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One of the most alluring things about freelancing and self-employment is the flexibility to work from wherever you want. Globally, there are nearly 35 million digital nomads with 15.5 million of them coming from the U.S. For those from the U.S., tax season may come with unique challenges depending on what state you have residence […]
January through April can feel like an all-out scramble to collect and track down information for your CPA. But it doesn’t have to be. You can start chipping away at your to-do list now to make the new year a time for tackling new goals instead of tax panic. Prepare for tax season now by […]
If you are not aware of different types of bookkeeping accounts, you might find yourself wondering what is not a temporary account in bookkeeping. Is it a permanent account, or are there other types as well? Let’s first make sure you understand what temporary accounts are and then what they are not. First Things, First, […]
As a small business owner, there are many things you need to be aware of, and one of them is double-entry bookkeeping. If you’re just getting familiar with bookkeeping and everything, this might sound confusing but don’t worry, that’s why we’re here, to explain everything you need to know about double-entry accounting and why it […]
Depreciation is one thing that many business owners often overlook, but you shouldn’t because there are many benefits to it. Now, if you’re wondering what can be depreciated in business, the answer is – almost everything. That’s why you should pay close attention to the following lines to become the master of depreciation. What Is […]
You’re an entrepreneur–a jack of all trades. You’ve likely dived into almost every aspect of your business headfirst and learned on the fly. That’s one of the beauties of the entrepreneurial journey. You get to learn and grow alongside your business. Generally speaking, there is one area of business that holds most small business owners […]
Which one do I need and why? Even though a lot of entrepreneurs and business owners use the terms “bookkeeping” and “accounting” interchangeably, the two indicate two different types of services. For any business owner, it’s important to know the difference so that they know exactly what to buy, whether it be a service provided […]
Easy Accounting Tips for Small Businesses We have the smartest and most clever accountant in the world. So we asked him to give us some easier accounting tips for small businesses just starting out. Here’s what he wrote. It’s solid advice from an accountant who saves us tons of money. If you want a referral […]
Let’s pretend we’re a donut shop. We started the business because we wanted to make money (and really like making donuts.) No matter the type of business chosen, we ask the same question as we go through setting up and starting: “When do I get to the point where I start bringing in more money […]