Tax Reduction Plans for Small Businesses In 2022

Posted on January 26th, 2022 in Taxes

The mercurial business landscape of the 2020s shows no signs of slowing down in 2022 and the businesses that adapt to this changing atmosphere will be the ones that achieve the most success. Though there are many variables out of a business’s control, there is one area that businesses can maximize without leaving things up […]

Improving Cash Flow Through Your Tax Planning

Posted on December 14th, 2021 in Accounting, Money Management, Taxes

The importance of cash flow for a business’s sustained financial success cannot be overstated. Positive cash flow affects daily operations, payroll, and the overall financial health of your business. Without it, businesses that would otherwise be successful with high-quality products and services can quickly flounder. In the rapidly changing tax environment, especially with the emerging […]

End of Year Tax Planning Tips for Small Businesses

Posted on December 14th, 2021 in Small Business, Startup Business, Taxes

According to the IRS, taxpayers left 1.3 billion dollars of unclaimed tax money on the table in 2021. That’s money that could be used to funnel back into your small business. As the end of the year approaches, it’s important to consider how much you can save simply by having the right tax measures in […]

End of the Year Sales Tax Tips for eCommerce Businesses

Posted on December 14th, 2021 in eCommerce Accounting, Taxes

eCommerce businesses face unique challenges that traditional, brick and mortar businesses do not. They must navigate an increasingly complex tax infrastructure that can pose unique challenges. But eCommerce businesses shouldn’t shy away from this changing tax landscape. With the correct software, monitoring systems, and tax professionals issuing guidance, eCommerce business owners can relax knowing they […]

End of the Year Tax Deductions for eCommerce Companies

Posted on December 14th, 2021 in eCommerce Accounting, Taxes

eCommerce companies have a substantial amount of tax deductions that can be a boon in a rapidly changing tax environment that can hinder their progress. Since the Supreme Court case South Dakota Vs. Wayfair, 43 states now tax eCommerce companies for selling goods in their state. Since eCommerce is still an evolving industry, eCommerce companies […]

Your Guide to Tax Efficiency

Posted on February 8th, 2021 in Accounting, Taxes

In the wake of the COVID-19 pandemic, federal and state deficits have surged to unpredicted levels. Given this scenario, tax efficiency is going to more crucial than ever. Taxes for wealthy individuals are expected to increase in the upcoming years, especially for those living in states facing significant budget deficits. The newly elected President Joe […]

10 Ways Your Taxes Will Be Different in 2021

Posted on February 3rd, 2021 in Accounting, Taxes

Taxes are an unavoidable obligation that must be fulfilled each year. Preparing for it ahead of time makes it easy to file while procrastinating makes the process a lot more complicated. So, we would suggest start preparing now or at least stay up-to-date with tax regulations! It’s important to note that the tax code is […]

Tax Tips for the New Decade!

Posted on January 2nd, 2020 in Accounting, Taxes

If you don’t plan in advance, then the process can get very tedious and painful. Having the necessary documents and data pre-organized is necessary, or else you will experience a lot of trouble when calculating your taxes. What’s worse is that you may even end up paying more if you don’t acquaint yourself with the […]

5 Things to Watch Out for During this Tax Season

Posted on October 2nd, 2019 in Accounting, Taxes

Many in the US were left surprised when the tax season came to an end on April 15, 2019. Taxpayers noticed that they had to pay more taxes than last year. These taxpayers even complained of receiving considerably lower refund dollars from the Internal Revenue Service (IRS). The 2018 tax reform bill had already left […]

Accounting and Tax Liability- Why they go Hand in Hand

Posted on September 18th, 2019 in Accounting, Taxes

Accounting is the process of recording all business transactions, and accounting reports are a numerical representation of the performance of a business. Part of these accounting reports is the tax liability, and given the significance of taxation, avoiding recording this data can have severe consequences for a business. Many new businesses are not aware of […]

Why Ignoring Sales Tax Can Be Hazardous for Your Business

Posted on May 23rd, 2019 in Entrepreneurship, Small Business, Startup Business, Taxes

Unless you live in a state or a country that does not impose sales tax, you must be aware of the strict obligations regarding its fulfillment and payment. Yet, many small businesses tend to take the sales tax for granted. It is also difficult for them in the know of all legislation and bills passed […]

6 Practical Steps to Managing eCommerce Sales Tax (Updated 2019)

Posted on January 9th, 2019 in Accounting, Money Management, Small Business, Startup Business, Taxes

It is a fact of life that if you plan to run a business, then you must pay taxes. If you’re an online retailer, then you’re also responsible for charging sales tax to customers living in states where your business has a physical presence. This tax is then remitted to the relevant tax authority. Filing […]

Category: Taxes