Ever heard of the “Masters Rule”? This rule allows you to rent your home to your business for 14 days tax-free. This post includes more details about this strategy and how to do it legally.
Things To Know About Claiming The Federal Research + Development Tax Credit
Back in 2015, the government passed the PATH Act which permanently extended the federal R+D tax credit and expanded its applications. A big reason for passing the PATH Act was because of the rapid changes in technology which have forced most businesses to constantly innovate.
Legally Protect Your Online
Business With Meeting Minutes
Depending on what type of business entity you are, you’re required to have at least one meeting per year with your partners and/or shareholders. But even if you’re scrupulous about having these meetings, you may not realize the importance of recording minutes from your meeting.
For most eCommerce and Online Business Owners, meeting minutes are something it’s all too easy to be too casual about. But in fact, keeping meeting minutes is an essential way to protect yourself and your business.
The Pros and Cons of
Business Entity Types For eCommerce
A lot of eCommerce sellers are hit with an inconvenient truth when tax season rolls around: they haven’t spent any time thinking about the right type of business entity for their business. Without having made this decision, they are lost in a sea of paperwork, doing their best to guess which forms are their responsibility, and hoping that they aren’t making a dire mistake that will cost them money down the road.
How To Evaluate and Calculate Quarterly Estimated Taxes for 2019
There are two ways to look at your taxes: as an unpleasant and unpredictable chore that you put off as long as possible. Or, consider the view as a manageable necessity of keeping your Amazon FBA, eCommerce, or Online Business financially strong.
By having a plan for your money, you can drop that check in the mail (or make it easily online!) each quarter and keep scaling to new heights in your online climb with less stress.
5 Reasons Why It Makes Sense to Outsource Your Business Taxes
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One of the many services we offer to go-getters in the ecommerce world is done-for-you business taxes. If there’s anything that adds stress to a business owner’s life, it’s trying to figure out small business accounting during tax season. When you work with us to develop your Profit Path, you don’t have to worry about…
Amazon Wins $1.5 Billion Tax Battle with IRS
Whew! We made it through another tax season, Profit Planners. Whether you had an assist or went the DIY route, we hope you spent the last week breathing deeply, letting the stress melt away, and enjoying the things in life that are free. (We hear these are the best things.) I have to say, the…
The 1099-K: Everything You Wanted to Know (but were afraid to ask)
With tax season in the offing, we’ve been fielding a lot of questions about one particular bit of IRS business: Form 1099-K. Maybe you received one of these in the mail and were like this: via GIPHY Don’t worry. The 1099-K is informational in nature. The IRS sends it to you to help make sure that…
Extra, Extra! IRS Issues New Date for Filing W-2s
Put this on the list of the things you don’t want to remember the morning you wake up from New Year’s Eve. The IRS has changed the deadline for employers to file W-2 forms to the Social Security Administration. The deadline is now January 31. [Tweet “Mark your calendars: the new deadline for employers to file…
What Amazon FBA Sellers Need to Know about Sales Tax
The following is a guest post from our pal Jennifer Dunn over at TaxJar. Amazon FBA is a gift to sellers. It’s a way to quickly grow and expand your business while avoiding many of the common hassles – like handling returns and customer service – that can interfere with scaling an online business. But…