Snyder

OCTOBER 31, 2022

In this article, we’ll answer all your questions so you can have a better picture of what it’s like — to start your own small business with Shopify. A guide to e-commerce business with Shopify: 1. How to start a Shopify business: setting a goal and choosing product ideas for your store. How to add tax on Shopify?

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Xero

MARCH 7, 2023

Our research found that recruitment is one of the main challenges facing accountants at the moment, so we’re shining a light on some amazing accountants to bust misconceptions around the industry. They tell us more about their roles, their hobbies, and why accounting is such a fantastic industry.

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Snyder

NOVEMBER 17, 2022

Accountancy firmly belongs to the financial sector but it also shares a lot of key features with the service industry. No one can be an expert in all those areas, that’s why finding a helpful blog for accountants is such a great idea. So let’s begin our journey to the land of accountancy! Small business owners.

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Xero

AUGUST 3, 2023

Xerocon is fast approaching: the best forum to hear about the latest innovations within Xero, get inspired and connect with other accountants and bookkeepers. If you have a team, talk to them to get a well-rounded view of how things are going. What processes could be automated or made more efficient? What do your clients need most?

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PASBA

SEPTEMBER 25, 2019

The competition for accounting clients can be as intense as in any other industry. Talk to your clients and others in the industry to find out what they really expect of their accountant and what would make them most likely to leave for a competitor or stay with your firm indefinitely. Excessive business debt.

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ThomsonReuters

SEPTEMBER 8, 2023

Jump to: What are the main types of business ownership? Choosing the right business structure for entrepreneurs Business owners can structure their companies in several different ways , depending on the size of the business, its growth potential, how the business is managed, how the owners want to be taxed, and many other variables.

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ThomsonReuters

APRIL 6, 2023

Whether you’re an accounting student, a recent college grad, or a small business owner, you may have questions about what accounts payable is, how it works, and best practices. As an important indicator of the health of a business, accounts payable is a gauge of cash flow.

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LyfeAccounting

APRIL 30, 2021

Today, we’ll be going over the top 5 write offs you could be taking for your LLC this year, next year, and the next year after that. In either case, you want to make sure you’re aware of the tax write offs (OR deductions) you can take to minimize your taxes or even maximize your tax refund. Top 5 Tax Write Offs for New LLCs.

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LyfeAccounting

APRIL 22, 2021

And while most businesses were paying their fair share of taxes, in 2018, Amazon received a rebate of $129 million. But how do they do it? In this post, we’ll be uncovering how Amazon was able to completely write off taxes. But more importantly, how you can learn from Amazon and do the exact same thing.

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Ronika Khanna CPA,CA

NOVEMBER 17, 2023

Upwork or Fiverr Short term accommodations e.g. Airbnb Task based platforms e.g. taskrabbit or pet sitting services E-commere selling e.g. ebay, Amazon and affiliate programs Writing/Blogging which generates revenue either by selling articles to publications or via ads on their website Virtual assistants, online surveys, tutoring etc.

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Snyder

DECEMBER 27, 2022

Freelance accounting is increasing in popularity. With the rise of online platforms like Upwork, Fiverr, and Remote.co, more and more people are working remotely to offer their services to businesses worldwide. This means that nowadays, freelancers have greater opportunities to find work and grow their businesses faster.

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Ryan Lazanis

SEPTEMBER 1, 2023

If you want to see the best cloud accounting software apps all in one place, then you’ll LOVE this ultimate list. In it, I’ll be sharing 147 of the best cloud accounting software apps on the market. Each item in the list will contain a brief description and will focus on how you can level up your accounting automation.

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LyfeAccounting

MARCH 16, 2021

Today, we have a major update for you – business meals are now 100% deductible as of the year 2021. Yes, this big news for everyone because the old rule was that you could only deduct 50% of your business meals from your taxable income. Read on as we will unravel all the details on how to use this deduction.

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Snyder

JULY 13, 2022

If you’re wondering how to sell on Etsy, what your Etsy store cost will be, and whether Etsy is worth your time, we have good news for you – you don’t have to learn the hard way. Read our comprehensive list of steps on how to set up an Etsy business, , find out some useful tips and implement them in your own selling business on Etsy.

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ThomsonReuters

OCTOBER 5, 2023

Jump to: What is amortization in accounting? How to calculate amortization Amortization vs. depreciation Managing amortization of assets Companies have a lot of assets. Some assets will fall under amortization accounting. Understanding these differences is critical when serving business clients.

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LyfeAccounting

APRIL 23, 2021

And what if we told you the business tax code was actually set up for you to do so? In this post, let us show you how to write off your dream car, so keep reading. So we’re not going to use a bunch of tax jargon you will read on other blogs. Ways on How to Write Off Your Dream Car. Crazy right?

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5 Minute Bookkeeping

FEBRUARY 3, 2022

If you’re here, you’ve likely heard of the 5 Minute Bookkeeping blog, and maybe the 5 Minute Bookkeeping YouTube channel , too. I love interacting with our community online, and I thought that for a change, you might want to see a behind the scenes look at how I put together the videos for my YouTube channel. It doesn’t matter.

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LyfeAccounting

NOVEMBER 9, 2020

LLCs are by far the most popular entity type amongst small businesses. How does it protect your business? The answers to these questions may influence the entity structure that you choose for your business, and how much money you end up paying the IRS. First of all, your business is taxed on all income.

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LyfeAccounting

APRIL 28, 2021

One of the biggest tips we can share with you is to buy a vehicle that weighs over 6,000 pounds because you are able to write it off 100% in the first year. In this post, we’re going to show you 8 cars that you can write off 100% using the vehicle tax deduction and section 179 deduction. What is Vehicle Tax Deduction?

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inDinero Accounting

APRIL 8, 2023

However, deciding between cash vs. accrual accounting methods is a critical one that will have far-reaching implications. Your choice between accrual vs cash will affect your business in several ways. For instance, why is it essential to select between cash and accrual accounting methods? What Is Cash Basis Accounting?

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DuctTapeMarketing

JUNE 27, 2014

Consulting Business. Marketing Strategy Plan. Small Business Finances. Can Accounting Reports Really Be Beautiful? Can Accounting Reports Really Be Beautiful? As a small business owner, what is more rewarding than focusing on the area of your business that you are most passionate about?

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LyfeAccounting

JUNE 7, 2021

We have 10 tips on how you can avoid paying taxes. Because for most people, paying taxes is such a drag, annoying, frustrating… So today, we want to talk about how to avoid taxes and give you 10 legit and legal ways to do so. So let’s talk about how to keep more of your money. 10 Tips On How To Avoid Paying Taxes.

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Nancy McClelland, LLC

JULY 22, 2022

But, if you dig through the bulletins you’ll find two in particular that could be important to a small business owner. If you want to skip my rant and go to the section on what a small business owner should do next, scroll down to the next line in bold.

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LyfeAccounting

NOVEMBER 16, 2020

For starters, lawmakers have spent the last few months fighting over the next round of relief, including another round of PPP, which has some accountants recommending to their clients that they should hold off on applying for PPP loan forgiveness. Now obviously debt can be especially overwhelming for any person or small business.

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LyfeAccounting

JUNE 1, 2021

Today, we are here to help you find grants for your business – basically free money that does not have to be paid back. List of Small Business Grants: 2 Main Types. We’ll be revealing a list of small business grants from both types starting with 7 private grants. Nav’s “Legitify Your Small Business” Grant.

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LyfeAccounting

JUNE 4, 2021

Today’s post is all about how to pay yourself as an LLC. Here at LYFE Accounting, not only do we help people pay themselves correctly as an LLC… …but we’ve also started one of the fastest-growing LLCs according to Inc Magazine and the financial times in 2021. How to Pay Yourself as an LLC. How Taxes Work for LLC Pay.

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inDinero Tax Tips

NOVEMBER 15, 2021

However, if you’re claiming ineligible business expenses , you risk facing an audit. The IRS announced a plan to increase audits for small businesses by 50% for the 2020 tax year. In order to qualify for a deduction, a business expense must be ordinary and necessary for the production or collection of income.

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LyfeAccounting

MAY 18, 2021

Today, we’ll be going over the biggest mistakes that we see small business owners make. Now, we completely understand that you’re reading this and maybe you’re a new business owner. Well, this post will highlight some of the things that you should NOT do as a new business owner or business owner, in general.

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LyfeAccounting

JULY 3, 2021

How to start a nonprofit organization in 2021 – otherwise known as a 501(c)(3) organization. So, a nonprofit organization is a business entity in which your goal is not to be profitable… …but to make money to expand on a social clause like feeding the homeless or helping victims of harsh circumstances. Keep reading!

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LyfeAccounting

JULY 8, 2021

How to start a business without money? Building a new business is hard and building a business without money is even harder. In fact, when we started our first business, the only money one of our founders had was a $250 deposit into a business checking account. But it’s definitely possible.

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LyfeAccounting

JULY 28, 2021

If you have kids under age 18 and a business, then you have a huge opportunity to save on taxes. And that is by hiring them in your business and placing them on the payroll. And we mean why not involve your kids in your business, show them the ropes, and teach entrepreneurship? All while saving thousands of dollars on taxes.

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LyfeAccounting

JULY 9, 2021

Foreign earned income exclusions, so it’s time that we write a post talking specifically to the people who are U.S. There is a limit of how much foreign earned income can be excluded, which for 2021 is up to $108,700. This one would be business profits, royalties, rents and scholarships, and fellowships. Keep reading!

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LyfeAccounting

JANUARY 28, 2021

If you’re someone who plans to go into business or makes a lot of money then chances are you will become an accredited investor. And that’s awesome because accredited investors can get some huge tax advantage and in some cases, you can end up paying very little to no taxes. What is Accredited Investing?

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LyfeAccounting

JULY 19, 2021

Let’s talk about how to buy rental properties with an LLC, otherwise known as a limited liability company. So in this post, we’re going to give you everything you need to know on how to buy rental properties with an LLC. If you are buying real estate with a business partner. Keep reading!

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LyfeAccounting

MARCH 10, 2021

Avoid Paying Tax Penalties: Here’s How. And we’ve been surprised at the number of people who have no idea how tax penalties and tax interest actually work. So it’s clear that more people need to know about tax penalties in 2021, especially if you are a small business owner and need capital to survive.

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DuctTapeMarketing

JANUARY 6, 2021

When you first start your business, you’re wearing every hat—you’re overseeing every single aspect of the company: Accounting , check. . When you’re spread too thin tending to every other aspect of your business, your days start to get longer and longer. Mistakes happen—and you’re busy fixing things instead of creating. .

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Acterys

AUGUST 12, 2022

It was b uilt for analyzing data, but the visualization and data modelling capabilities also make it the perfect platform for collecting data down to very sophisticated x P&A ( Extended Planning & Analytics) processes. The only thing that a user with a Power BI planning process requires is a web browser.

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