Tax time can be super stressful! These practical tax tips will help you get organized and prepared for a stress-free tax season!

If you're an entrepreneur, tax season can be needlessly confusing. Learn how to file small-business taxes with our easy-to-follow checklist.

Having a work at home job offers convenience and flexibility. And you can also benefit from the number of taxes you can write off when working from home.

IRS audit. These are the words most of us would prefer to avoid if at all possible. Am I right? Here are 7 red flags to help you avoid an IRS audit.

Let's talk about some expenses entrepreneurs can write off on their taxes, now. September 2024

Organize your finances with this free small business tax spreadsheet in Excel. Learn an easy way to do your taxes for your small business.

Bookkeeping templates for tax savings in your small business. Organize your business finances and do your bookkeeping easily

Are you self-employed? If so, how do you know which business expenses you can deduct?

What Can You Deduct on Your Taxes If You’re Self Employed? This post details items you can write off when it comes to tax time

Organize your finances with this free small business tax spreadsheet in Excel. Learn an easy way to do your taxes for your small business.

Let's talk about some expenses entrepreneurs can write off on their taxes, now. September 2024

Understanding income taxes as an entrepreneur can be a real headache, and many online resources like to assume you already have a basic knowledge of how taxes work when they explain concepts. In this post, I'm breaking down the BARE BASICS of how income taxes work (without the accountant jargon).

Before you start reading: The process I’ll outline below is suitable for sole proprietorships and single-member LLCs not taxed as an S-Corp. If that’s you, YAY! Keep reading. Also: I lay out ALL the steps you need to catch up in this blog post. AND. About 2/3 of the way into the post, I show

Are you a new business owner? All too often business owners are making the common LLC mistakes listed in this post that's costing thousands.

Today, I’m talking more in depth about getting your financial paperwork organized for year-end so that you’re ready for tax prep.

Don't be caught unprepared when it comes time to file taxes. Get it together with a few simple tips on Organizing Receipts for Tax Time!

You need to pay estimated taxes. You may not realize it, but even as a self-employed individual, you are responsible for filing taxes every quarter.

Stumped by the paperwork and weird vocabulary of taxes? Don't worry! Our friend Nicole, a CPA, is here to teach you how to file your taxes without stress.

Certifications and licensing allow professional bookkeepers to showcase their bookkeeping skills. A professional distinction can also make a bookkeeper stand out among peers in the industry. Knowing the best bookkeeping license requirements for your business can make all the difference.

Saturday organizing time! Wahoo! I must admit I love to organize things! They may not stay that way for very long (hahaha) but I love to go through the process of it all. Today we are going to tackle, are you ready? RECEIPTS!! Ahhhh!!!! Those dreaded little pieces of paper that we keep for budgeting purposes, tax purposes, warranty purposes, etc. etc. And the worst thing about them is they come in all shapes and sizes!! This is what makes it so hard to manage them! Well have no fear!! Kyliegh is here! =) I have been using this system for several months now (like 6 months) and it is working SO well for me! Ready to see it? [...] So first of all, if you have tons of receipts like the picture above then you need to sort them. I find the date (that is always like going on a treasure hunt to find because of the small print!) and then I print the month and day at the top large enough that I can see it easily. Once I do this to ALL of the receipts I have in my "rat nest" of receipts. I then put them in order by date. Once they are in order I bind them with a binder clip. Now if you have alot of receipts from being backed way up, you can stop the process here. At least they are organized and manageable now. However, I highly highly recommend going on- and here is why! They will be "contained" in a book and it will be much less likely for them to get pulled apart. Here is how I organize mine! I take a regular one subject notebook and I start marking the top right hand corner of the page with numbers- 1-31. Then on the front of the book I label what month and year it is. Here you can see what I am talking about. This particular page was the 18th of December but you notice there is no receipts on this day. (Do you see the little bitty 18 in the top right hand corner?) Some days you will not have anything to tape down. But then other days you will pack on the receipts! (Now here is a little side note- I tried stapling them but if you ever need to take the receipts off they tare. Taping them does much better.) Now some people make fun of me for doing this but that is okay. I actually keep ALL receipts- even fast food receipts. I keep cash and credit receipts as well! I do so because I actually enter ALL my information into budget software. If you are way behind it does take some time to do it this way but if you come home everyday and tape them down it only takes a few seconds. Let me give you some pros and cons and you can decide for yourself if you want to do yours this way. Cons: * It takes a little while to do this if you are way behind on receipts. * It takes discipline to make yourself do this every day. Pros: * If you ever need to return anything- you always have the receipt to do it with. For returns I take my whole book in with the receipt still taped to it! They do their marking on my receipt and then I shut my book and off I go- with my refund money in hand! ;) * It makes budgeting easier because you can actually see where you are spending your money. If at the end of the month you flip through and see nothing but fast food receipts, there is where your money is going! * At tax time this method makes things A BREEZE!! (I personally do this for my business. I put a little yellow flag on any and all pages that have a receipt I need to deduct for tax purposes.) * Warranty information IS ALWAYS easy to find! ( I put a little red flag on the pages that have a recipt that has warranty information attached to it.) * You can dispute any false charges to your bank or credit card. I personally had this happen just recently and when I went to dispute the charge they wanted to give me some grief like they were questioning if I had "overlooked" it. Once I pulled out all my books with these receipts- they immediately helped me with getting my money back. They said as organized as my receipts were- I would KNOW if something was wrong!

Free printables to help you organize small business taxes. These simple and practical ideas will help to make your tax season less stressful and keep your self employment tax documents organized for the year.

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If you find back-office finance and accounting functions are consuming too much of your time and causing stress, consider seeking out the help of an accountant.

Inventory and cost of goods sold are probably the most complex accounting concepts that makers and crafters have to tackle. Today I’m going to attempt an overview of some important inventory concepts in simple, plain English.

What every handmade business owner must know about taxes + a FREE step by step checklist to make your business legit

This record retention schedule guides you how long to keep tax records for all manners of receipts and paperwork for taxes, asset protection, insurance, etc.

You can pay your taxes with a credit card. But that doesn't mean you should. If you're tempted to slap down the plastic to pay your tax debt, make sure it's right for you first.

The cash method and other favorable rules are now more widely available with Tax Cuts and Jobs Act changes.