Accounting

In their landmark decision in the South Dakota v. Wayfair case, the Supreme Court of the United States (SCOTUS) just radically changed the sales tax landscape for online sellers. But don’t panic! This blog post will take a look at what has changed and how online sellers can determine next steps to remain sales...

Payroll is one of those things that starts out simply enough. You start your business, hire a few employees, and things tick along pretty well. It’s straightforward enough to keep everything in line at first, but what happens to most companies is… they grow! This is a great thing,...

Receipts are vital to successfully running a business. You need receipts to track your purchases and expenses. Your clients need receipts for their tax purposes and to manage their finances. Paper receipts have been around a long time, so many people are used to them and may even be resistant to moving...

Hiring an accountant is widely considered best practice for small business owners.  But delegating financial analysis and reporting doesn't mean completely checking out of the process each month or quarter. On the contrary, it's recommended that business owners work closely with their accountants throughout the year to better understand their financial position,...

Are you one of those business owners who hates looking at their bank statements? If you’re in business to make money, why wouldn’t you want to look at your numbers? Have no fear: you’re not alone. Money is a huge stressor for business owners, in part because they get confused over the...

There are some things in life that go together well and others that definitely do not. Business and personal finances are in the category of items that should not be mixed. Although it may seem like a headache to keep them separate—who wants to manage all those bank accounts?—your life will be...

Understanding Statute of Limitations on Tax Audits Nobody wants to spend their whole life looking over their shoulder, wondering if the IRS is going to audit them. Luckily, there is a statute of limitations on IRS audits and tax assessments. This time period is called the...

Numbers are boring. I get it. You’re driven by the thrill of making sales, out-maneuvering your competitors, and putting together the perfect product. What doesn’t drive you, on the other hand, are the mind numbing hours spent staring at Excel trying to debug a formula you don’t understand. This is completely normal. If you’re not...

If you’ve been considering making the move to a cloud-based accounting system, you’re not alone. Cloud technology has impacted many business functions, including making managing financial aspects of your business easier and more efficient. Cloud-based accounting moves your accounting from being hosted on your computer’s hard drive to an...

When it comes to creating a budget, it's essential to estimate your spending as realistically as possible. Here are five budget-related errors commonly made by small businesses and some tips for avoiding them. 1. Not Setting Goals. It's almost impossible to set spending priorities without clear goals for the coming year. It's important to identify, in...