There are various federal taxes that may apply to your small business. The type and form of business you operate determines what taxes you must pay and how you pay them. At the federal level, several different taxes may apply. Excise Taxes The IRS defines an excise tax as a tax imposed on the sale […]
Starting a Side Gig in 2022? Your New Tax Obligations
It’s not just self-employed individuals who must pay estimated taxes. Here’s what you need to know. W-2 income tax withholding isn’t perfect. You’ve probably had years when you owed more than you expected to on April 15. Or you were pleasantly surprised to receive a sizable refund. The idea, of course, is to try to […]
Expand QuickBooks Online’s Features: Use Integrated Apps
Expand QuickBooks Online’s Features: Use Integrated Apps Are you finding that you need more flexibility in an area of QuickBooks Online? Maybe it’s time to try an integrated app. When you first started using QuickBooks Online, you probably found that it supplied the tools you needed to manage your accounting – and then some. But […]
The Top 3 Reasons to Outsource Your Accounting
While you may think it’s better to take care of your small business accounting tasks in-house, you may be surprised to know that your business can benefit from having a professional accountant or CPA handle the job for you. Here are the top three reasons to outsource your accounting. 1. Peace of Mind The number […]
Are You Tracking Absolutely All of Your Tax-Related Business Expenses?
If you’re self-employed, understanding what’s deductible and recording all of your business expenses should be priorities. When you work for yourself, accurate accounting is critical. The IRS pays special attention to tax returns prepared by sole proprietors. Not only does the agency try to determine whether all taxable income has been recorded, but they also […]
8 QuickBooks Online Tips
There are always more things to learn about the applications we use every day. Here are some tips for expanding your use of QuickBooks Online. We tend to fall into the same old patterns once we’ve learned how to make a computer application work for us. We learn the features we need and rarely venture […]