Kayla Bloom is a freelance Finance Writer specializing in topics related to Accounting, Bookkeeping, Taxes, and Business Finances. She lives in Miami, Florida.
As a Shopify seller, it’s important to have a good accounting system in place to track your income and expenses. There are a number of different accounting tools available, and choosing the right one can be tricky. In this blog post, we’ll take a look at some of the best Shopify accounting tools… Continue reading 9 Best Accounting Software for Shopify (+ Success Tips)
Bookkeeping is an essential part of any business, but for Etsy sellers, it can be even more important. In this blog post, we’ll go over the basics of Etsy bookkeeping and walk you through a step-by-step guide on how to set up your own Etsy bookkeeping system. By following our tips, you’ll… Continue reading Etsy Bookkeeping – An Ultimate Guide for the Sellers
For many Amazon sellers, achieving the sought-after financial clarity is easier said than done. With so many transactions, fees, and costs to manage, it’s easy to get lost in the numbers. Bookkeeping solves many of these issues. However, not all bookkeeping systems are created equally. In this article, we’ll review the top… Continue reading Bookkeeping for Amazon Sellers: Software, Methods, and More
Choosing the right business structure is a pivotal decision for entrepreneurs, and one option that frequently stands out is the S Corporation (S Corp). This structure blends the liability protection of a corporation with the pass-through taxation of a partnership. In this comprehensive guide, we will delve into the nuances of how… Continue reading How Are S Corps Taxed? | An Ultimate Guide
The U.S. tax code is notoriously complex, with myriad forms, schedules, and deductions to navigate. For small business owners, one of the critical elements to understand is the Qualified Business Income (QBI) deduction, which can significantly impact your tax liability. Form 8995 is a key document related to this deduction, and in this… Continue reading What Is Form 8995? A Guide to Small Business Tax Rates
Depreciation is a fundamental concept in accounting, representing the allocation of an asset’s cost over its useful life. Various depreciation methods are available to businesses, each with its own advantages and drawbacks. One such method is the Double Declining Balance Method, an accelerated depreciation technique that allows for a more significant portion of… Continue reading Double Declining Balance Method for Depreciation (With Examples)
Proper record-keeping and documentation are crucial when it comes to managing your business’s tax affairs. The Internal Revenue Service (IRS) has specific requirements for maintaining receipts and other financial records to support your tax deductions and claims. In this comprehensive guide, we will explore the IRS receipt requirements, what a Business Tax Receipt… Continue reading What are the IRS Receipt Requirements?
Incorporating your business is a significant step that can have far-reaching implications for your company’s future. The state you choose for incorporation plays a crucial role in determining the legal and financial aspects of your business. In this guide, we will explore the best states to incorporate your business in 2023, the process… Continue reading 3 Best States to Incorporate Your Business in 2023
Cash flow is the lifeblood of any business. The ability to accurately forecast cash flow is crucial for maintaining financial stability, making informed decisions, and ensuring your business’s long-term success. In this comprehensive guide, we will explore cash flow forecasting in detail, including what it is, its benefits, types of forecasts, components, step-by-step… Continue reading Cash Flow Forecasting: A Guide with Examples & How To’s
Introduction Journal entries act as the building blocks of financial accounting, providing a chronological record of all transactions made by a business, including transactions ranging from everyday office expenses to online investments you make, like digital marketing campaigns. They enable companies to keep track of all financial transactions and ensure that the accounts… Continue reading Journal Entry Examples (Easy-to-Understand)
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