online business, amazon seller, online retail, taxes, tax season

What Online Business Owners Should Know About DIYing Their Taxes

Tax Preparation

Is there anything quite like the power high of starting your own online business? Especially when things are going well, it’s just amazing to see your profits growing and think, “I did that?!” We’re all for enjoying the heck out of this power high. You’ve earned it—you should enjoy it! However, it does come with…

online business, amazon, amazon seller, taxes, deadlines, business tips, small business, news

3rd Quarter Roundup

Can you believe we’re already halfway through Q3? If you’re like us, summer has rushed past you in a blur of fun, sunscreen and barbecue smoke. (Somehow all that time we’ve spent relaxing made it go by even faster!) Hard to imagine during these dog days of August, but in just a few weeks, we’ll…

online business, online accounting, tax liability, taxes, windfall

Ask Marilyn: What to Do with a Financial Windfall

Compliance

When was the last time you got lucky? …No, not like that. Keep that information to yourself. We’re talking about “getting lucky” as in an unexpected windfall. A check from grandma. An unexpected inheritance. A winning lottery ticket. Buried treasure unearthed by your dog. Last month, one of our TBL Profit Planners emailed with a fun puzzle…

taxes, planning, small business, strategy, online accounting, financial planning, profit planning, online business

The 1099-K: Everything You Wanted to Know (but were afraid to ask)

Tax

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

Tax, Tax Preparation

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…

bookkeeping, deductions, business gifts, business expense, expenses, write off, tax season

“Can I Write It Off?” – Business-Related Gifts

Wondering if you can write off business-related gifts on your 2016 tax return? Here’s everything you need to know. Say what you will about the commercialism of Valentine’s Day, it’s great for working folks! Our office was awash with chocolates, cookies, flowers, cards, and boxes of those chalk-textured conversation hearts. (#FunToRead #GrossToEat) Of course, we sent our…

VAT Tax Updates + Tools for Digital Product Sales

Tax

If you sell digital products overseas, the European Union (EU) has passed updates to the VAT tax that will affect you and your accounting.  If you are unfamiliar with the VAT, here’s a down and dirty overview. VAT stands for Value Added Tax. In this system of taxation, goods and services are taxed at each step…