Accounting and Tax Tips Blog

LLC Advantages for Freelancers and Small Businesses

Sep 21, 2020 | Legal, Tax Tips

Choosing an entity structure for your business is not an easy call. You have a lot of options to choose, but LLCs are one of the most popular. We’ll cover LLC advantages so you can decide whether an LLC structure is the best option for your business.. What is an...

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Form 1040EZ: How to File a Simplified Tax Return

Sep 18, 2020 | Tax Tips

For 1040 is the form you use to file your taxes. Currently, Form 1040 is also available as Form 1040A and 1040EZ. The form you’ll need to use depends on various factors, including your filing status, overall income, and how many dependents you’re claiming. However,...

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Everything You Need to Know About Coronavirus IRA Withdrawals

Sep 16, 2020 | Tax Tips

The coronavirus has been devastating in more than one way. After many states implemented shelter in place orders, many Americans were left in a very vulnerable financial situation. Without the ability to go to work and earn an income, many people have struggled to...

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How to Use an ACH Transfer to Save on Invoicing

Sep 2, 2020 | Tax Tips

Payment processing fees can add up. A few percentage points might not seem like much, but these fees can add up to thousands of dollars in extra costs by the end of the year. Requesting payments via ACH can result in significant savings over third-party invoicing...

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Quickbooks vs Xero: Which Is The Best Accounting Software?

Aug 10, 2020 | Tax Tips

One of the most important decisions you can make for your accounting process is which accounting software to go with. There are several different options available, but the two that reign supreme are Quickbooks and Xero. Both are very powerful and boast impressive...

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Obamacare and Your Taxes: 2020 Edition

Jul 27, 2020 | Tax Tips

The Patient Protection and Affordable Care Act (ACA), aka Obamacare, came into effect in 2014. Some of the rules changed over the past few years, but it still affects your taxes. President Trump eliminated the penalty for non-coverage, but most of the Obamacare...

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