Just when you thought it was safe to dip your toes into the blue ocean waters of online retail, a menace from the deep is again lurking below the surface. It called the Marketplace Fairness Act (MFA) bill and it has been newly re-introduced for 2015. Marketplace Fairness Act: What It Is and What It…
Buying a Boat (or Other Luxury Item) as a Business Asset
With the summer months upon us, you may be dreaming about a boat or a mountain condo. Your company has performed really well the past year, you are flush with cash assets, and ready to lay out some of those hard-earned profits on a vacation property, yacht, or private airplane. Would the new boat be…
Post Tax Season Do’s and Don’ts for Online Entrepreneurs and Retailers
You have just finished your 2014 taxes. It’s time to sit back, kick up your feet, and relax, right? WRONG! If you haven’t been keeping up with your books for this year, you are already four months behind. You’re not going to wait until January again and try to recreate all your expenses, income, and…
Make Your Money Work for You this Summer
Consider this scenario. You are planning a three-day business conference in Lake Tahoe. There will be workshops on using the latest audio technology to produce your podcasts, one of the primary activities you do for your business. The hotel where the conference is being held just happens to be right next to Wally World. The…
Fast Facts on Assets, Amortization and Depreciation
If your business earns $500,000 in a year. It may be tempting to try and offset those earnings by claiming more expenses. But the IRS will certainly want you to explain if you claim 20 or 30 percent of your revenue was eaten up by expenses. You can’t just buy a $50,000 automobile for the…
Understanding Your 2015 Federal Quarterly Estimated Tax Payments
If you are new to business, paying your U S Taxes can be a little intimidating. It’s easier as an employee and they withhold the right amount from each of your paychecks. Sure, they take a large amount away, but you have a lot more left, so it doesn’t seem like a big deal….
CPAIYC #010: How To Stop Stressing In Your Online Business
[powerpress] Welcome to the CPA in Your Corner podcast! In this week’s episode we sat down for a lovely chat with Sarah Littlefield, Licensed Marriage + Family Therapist and budding online entrepreneur! Today we are tapping into her expertise about how to stop stressing when it comes to your online business…not to mention timely advice for this…
7 Things You Need to Know About Filing a Federal Tax Extension
If you don’t have your taxes completed by the April 15th deadline, the IRS has a provision to file an extension using Form 4868. This gives you an automatic six-month extension to complete your return. People will usually file a Federal Tax Extension for one of two reasons: They haven’t collected all their paperwork and…
Accounting Systems for Amazon Sellers
Most people think of Amazon as an online retailer, but an ever increasing aspect of their business is as an online platform for other business owners. If you own a business, Amazon wants to help you. The expertise they have developed in order fulfillment, secure payment processing, and website design. This is something you can…
CPAIYC #009: Inventory
[powerpress] Welcome to the CPA in Your Corner podcast! Today we are talking about inventory and how it affects YOUR bottom line. Links and resources mentioned in today’s show: The Bottom Line on Twitter Xero is our Hero Free Discovery Call Thank you for listening! We can’t begin to tell you how much we appreciate it! If…