If you’re a small business and receive funds via credit cards online, or other online payments from your clients, you can anticipate receiving a 1099-K this coming tax year. The 1099-K is the IRS’ latest tax form for small business, which is provided directly to the IRS from your online payment provider (such as PayPal). …
When freelancers know they’re competing with others for work, there may be a tendency to provide a lowball quote to secure it, but freelancers need to keep in mind the old saying “you get what you pay for.” Clients certainly are. Although it may seem like a good idea to offer a very low quote, …
Note: For United States based businesses
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What’s just around the corner? Taxes! However, this year, you’ve decided to check out the IRS Small Business/Self-Employed Virtual Tax Workshop (about 9 Videos). It’s a great way to find out about tax regulations and tips for your business, especially if you’re new to the world of business ownership. In a word, this workshop is …
Want to send a group of freelancers running for the hills? Easy – just tell them it’s tax time. If your freelance career doesn’t involve accounting (or numbers, really) in any way, shape, or form–or you managed to get away with skipping all of your econ classes during college–then this guide to write-offs is definitely …
*Sung COGS is not just another complicated accounting term that’s on your tax forms, they’re actually fairly simple to understand (and you can record them in FreshBooks). What are they? COGS stands for Cost of Goods Sold, which essentially explains what it is. This means that for something you sell, COGS is the cost that …
Contributed by FreshBooks customer Mariette Knoblauch. For a Canadian perspective, please read ThatBookKeeper’s post on FreshBooks and Taxes.
As you’re getting ready to file taxes this April, you’re probably …
Certified Public Accountants (CPAs or CAs) can be beneficial to your company in many ways you may not have considered. Your accountant will serve as your primary source of financial guidance for your business, offering assistance in a variety of areas that your business may or may not need. Before you begin to work with …
Do you always ask yourself is this a business expense or not? And is it deductible? It’s a common question, especially as tax resources can be a little vague with definitions or by using obscure examples not relevant …
Guest Blogpost by Eric Mathews, author of thatbookkeeper.com.
During the 34 years I’ve been around, I have come to the realization that I am an anomaly. When I was 14, and my friends were sleeping in or …
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