inDinero Tax Tips

OCTOBER 21, 2023

In this case, “ordinary” means an expense that is common in your industry, while a necessary expense is one that you need to run and grow your business effectively. Benefits of Tracking Business Expenses Effectively tracking expenses offers several significant benefits that can impact the overall success of a business.

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inDinero Tax Tips

JUNE 24, 2023

Business tax deductions – three words that can cause stress and confusion for even the most seasoned entrepreneurs. Most business owners spend their days managing operations, nurturing client relationships, and focusing on growth goals. See our article, Cash vs Accrual Accounting , for more information.

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xendoo

MARCH 16, 2022

DIY (by hand) – If you choose to do the bookkeeping yourself, you can make the entries manually using software like Wave or QuickBooks. First-time business owners that start with Excel spreadsheets regret it, so we advise using cloud accounting software. . Set up an online accounting system.

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inDinero Tax Tips

JUNE 13, 2022

Credit: Sean Pollock When it comes down to it, looking at the difference between a C-Corp and S-Corp is a matter of structuring the business properly for tax purposes. Both business tax structures provide reduced personal liability, an important part of running a successful company.

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inDinero Tax Tips

JUNE 13, 2022

When it comes down to it, looking at the difference between a C-Corp and S-Corp is a matter of structuring the business properly for tax purposes. Both business tax structures provide reduced personal liability, an important part of running a successful company. Cash vs. Accrual Accounting.

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xendoo

OCTOBER 18, 2021

If your eCommerce store starts to grow, you can always switch to the accrual method down the line, though you may need to consult with an eCommerce accountant to help you with your books. Accrual Method. Stay Current with All Taxes. Every state has its own regulations when it comes to filing sales taxes.

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inDinero Accounting

APRIL 9, 2021

Seeing the cash-in and cash-out every month is reassuring, but you’re making the change in accounting method because your company’s growth depends on it. You are familiar with the pros and cons of cash versus accrual accounting. How do you switch a Software as a Service (SaaS) from cash to accrual? Glad you asked!

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