Launching a business is an exciting time but there are so many things to think about! Sometimes this means the boring and administrative stuff can fall behind because there’s only so much time in the day. Here’s a short list you can use to make sure these items get tackled and don’t come back to […]

Are you one of those online business owners who face the tax filing season with dread? Do you scratch through drawers searching for receipts days before your income tax return is due?  You are not alone. Many online business owners find themselves in a similar predicament at the end of the tax year. The good

The Tax Cuts and Jobs Act came into effect in 2018. While it offered some tax concessions, it has left many online business owners unsure of their tax liabilities and how they can reduce them. By and large, your business structure will determine how your tax is calculated. The key is to know that you don’t

Despite the easy access people have these days to the internet, selling products online is not as simple as it may seem. There are certain tax regulations that need to be followed. To make things even more difficult, each state has its own tax rate and requirements. Thus, if you plan on running an online

If you own an online business, you might want to hire a bookkeeper. But what can bookkeepers do? Whether you run an online clothing store or a food delivery service, keeping track of what goes on in your business is essential. A bookkeeper will help you do just that. Below, we’ll explore what can bookkeepers

As an online business owner, you have the same tax responsibilities as your bricks-and-mortar counterpart. You can’t avoid tax season, but you can make it somewhat easier for yourself. Every type of business has the right to claim certain tax deductions to reduce their taxable income. By calculating all your assumptions and keeping tax records

Getting paid for your services promptly is vital to business success. And for many online businesses, this involves composing an email, sending a bill, making sure you have the correct account information, and keeping track of responses. It’s time-consuming, but how to set up an invoicing system is the question. Rather than sending individual emails

It makes perfect sense for online business owners always to know where their business stands financially. However, manually keeping track of every penny that flows through is near-impossible save for the least active enterprises. To make it easy to get a clear perspective of your business’s current financial position, you’ll need a balance sheet and

Debt can send your business into a financial black hole, making it vital that your customers pay and do so on time. It may be uncomfortable having to repeatedly ask a customer to pay, but what choice do you have? There may be no other way – other than legal intervention – to get your

So, you have finally launched your online business or you planning to launch, and you’re wondering do you need a bookkeeper for your online business. Technically, you can complete all the bookkeeping tasks on your own. However, even though it’s not mandatory, hiring a bookkeeper for your online business is highly recommended. Bookkeepers know the

If you’re planning to start an online business, be prepared to face all the challenges and difficulties of being a full-fledged business owner – accounting being high on the list. Although tedious and complicated, accounting is essential for the success of your online business. Without completing the necessary accounting tasks, your small business will crumble

Cash flow management is one of the essential aspects of every business, including online businesses. If you’re just starting out, it’s crucial to understand what cash flow management is, why it’s vital, and how it relates to profit. For those reasons, we’ve created a guide to answer all questions about this crucial factor in ensuring