Preventing Tax Penalties Through Proper Bookkeeping Practices

Good bookkeeping is like the foundation of a sturdy building, especially for small businesses. It ensures that the financial structure stays intact and helps prevent costly tax penalties. Poor financial management can lead to errors, which might seem like small cracks but can grow into bigger issues over time. These issues can result in fines […]

End of Year Tax Strategies for a Small Businesses

End of Year Tax Strategies for Small Businesses If you own a small business, there are many considerations when planning your businesstaxes. In many cases, you have choices regarding the timing of income and expenses thatcan impact your taxes both for this year and next. One of the best things you can do is planyour […]

5 Questions Online Retailers Must Ask Before Selecting a Sales Tax Solution

This guest post is from our friends at TaxJar. Please refer to TaxJar.com for updates on the latest sales tax news. For online retailers, managing state sales tax has increased in complexity ever since the South Dakota v. Wayfair ruling back in 2018. Under the Wayfair ruling, individual states can require online retailers to collect sales tax – even […]

What Exactly Does An Ecommerce Accountant Do?

As your eCommerce business grows, you will definitely find it challenging to manage your finances. Be mindful that you have to analyze and categorize all business operations, including sales, supplier payments, banking fees, returns, entire details of money transactions. Meanwhile, you need to report to the tax authorities about your financial details. Ecommerce Accountant Typically, […]

How Ecommerce Businesses Can Use the Profit First Method at Tax Time

Profit First is an exciting idea for ecommerce sellers to manage their capital efficiently. With this electrifying concept, you can now use your finances more productively while maintaining your comfort zone. Parkinson’s Law has underpinned this beneficial idea. Imagine your excitement when you realize that your bank account is escalating than your expectations, ultimately boosting […]

Tax Consulting Services: Why You Shouldn’t Underestimate its Value

Businesses view taxes like most of us do– as a burden that can’t be avoided. Naturally, companies want to maximize their profitability which means minimizing taxes whenever possible. To be fair, the U.S. tax code provides plenty of opportunities to save on taxes, and a skilled advisor knows what those opportunities are and how to […]