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5 Ways an Outsourced CFO Makes You a Rockstar CEO

Ever feel like you’re juggling a million tasks at your business? Marketing, sales, operations – it’s enough to make any business owner want to pull their hair out. 

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Top 3 Accounting Firm in Austin TX: Insogna CPA

Looking for the best Austin Accounting Firm? For the fourth year in a row, Insogna CPA has been recognized as a Top 3 Accounting Firm in Austin, Texas.

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Business Owners: 5 Reasons Why a Licensed CPA is Your Secret Weapon

Running your own business is a lot. You’re the boss, calling the shots and chasing your dreams. That’s where a licensed CPA steps in as your secret weapon.

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Guide to Dropshipping and Sales Tax in 2024: For Retailers and Online Businesses

Welcome to the whimsical world of dropshipping and the confounding carnival of sales tax! If you think understanding Monopoly is tough, try figuring out who owes what in this three-ring circus of transactions.

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The 2024 Guide to Sales Tax for Online Sellers: What Every Business Needs to Know

Sales tax is not a straightforward subject; in fact, it has a lot of moving parts. When it comes to sales tax for online sellers, things can get even more complicated.

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Vacation Home Rental Property: Income Tax Rules for 2024

These rental tax rules include some interesting twists that you should know about before you begin renting. While some individuals prefer never to rent out their vacation homes, others find such rentals to be a helpful way of covering the property taxes and other costs of the home.

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How to Avoid a Tax Audit for Small Business Owners

Small business bookkeeping can be challenging and full of obstacles, but you can increase your chances of avoiding an IRS tax audit by understanding what accounting mistakes generally trigger suspicion and how to avoid them.

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Should I do my own Taxes in 2024 or Hire a Licensed CPA?

In the past, I’ve had a “tax professional” handle my personal and business taxes. However, lately, I suspect I might be missing out on some deductions that could increase my return.

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Where’s my IRS tax refund? Reasons Why IRS Isn’t Responding

If you’re still waiting for a tax refund or have tried to contact the IRS directly in 2024, here are six reasons why you might not be getting a response.

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Do I need a Certified Public Accountant (CPA) for my eCommerce Business?

Hiring the right eCommerce CPA accounting firm to contribute to your team’s success is crucial. It takes time, expertise, and diligence to find the perfect match for your growing eCommerce or online retail business.

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Guide to Dropshipping and Sales Tax in 2024: For Retailers and Online Businesses

If you’re still waiting for a tax refund or have tried to contact the IRS directly in 2024, here are six reasons why you might not be getting a response.

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What is the Difference between a Virtual Controller and a Fractional CFO?

Not sure what your business really needs? Your business might not need a full-time financial guru clocking 40 hours a week in the year 2024. 

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Amazon FBA Seller Tax Guide and Tips you need to know in 2024

If you put in some real effort, you can use this outlet to become a very successful online merchant. However, an inexperienced Amazon seller filing taxes might not know that there are nuances to the task that might not be immediately intuitive.

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What is the NEW FinCEN’s Reporting Rule: Things Your LLC/INC Needs to Know

Starting January 1, 2024, FinCEN’s Beneficial Ownership Information Reporting Rule comes into effect. This rule ensures transparency in business ownership by requiring companies to report key information to the U.S. Government.

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Beyond Automated Bookkeeping: How to get the most of your CPA Accountant

The rise of automation has been a game-changer for many businesses, enabling them to cut costs and streamline operations in 2024. Have you ever considered why your small business needs more than just automated bookkeeping?

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2024 Legal Tax Tips: 5 Ways to Reduce Your Tax Bill

Taxes can be stressful, and it may be tempting to procrastinate—don’t give in to that temptation. By thinking ahead and working with an expert, you can turn the hassle of doing your taxes into an opportunity to keep some of your hard-earned income in your pocket where it belongs.

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Discover 5 Tax Credits Every Small Business Owner Can Claim in 2024

Running a business comes with many financial responsibilities, and paying taxes is a significant one. While it might seem like a hefty expense, with a proper tax strategy, it can also be one of the best ways to save money. Knowing which tax credits your small business can claim could be a game-changer.

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Ranked one of the Top Austin CPAs in Inc. 5000 Southwest List for 4th Year in a Row!

Companies on the 2024 Inc. 5000 Regionals: Southwest list had an average growth rate above 135 percent. Inc. magazine today revealed that Insogna CPA is ranked on its fourth annual Inc. 5000 Regionals: Southwest list.

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How to Calculate Crypto Income Tax: 2024 IRS Rules

Did you sell or exchange any cryptocurrency during 2023? If so, you must disclose this information when you file your personal taxes this year, and you must pay cryptocurrency taxes.

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Home Office Tax Deduction : Work from home FAQs, Rules, and more!

The home office deduction allows qualified taxpayers to deduct certain home expenses when they file taxes. To claim the home office deduction in 2024, you generally must exclusively and regularly use part of your home or a separate structure on your property as your primary place of business.

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Amend Tax Return: Do I need to file one?

The most recent data from the IRS on individual tax returns indicates that out of 131 million returns filed, about 5 million were expected to be amended. This comes to less than 4 percent, but that projection still affects a significant number of taxpayers. 

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Top eCommerce Challenges in 2024 and How to Overcome them

How can you keep up with your eCommerce accounting when you also have partners to meet, logistics to manage, and a business to run? It’s impossible to do it all yourself. And, you’re not alone.

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Do I need to update my ITIN number?

An Individual Taxpayer Identification Number (ITIN) is a nine-digit number issued by the IRS for individuals who need a U.S. taxpayer identification number but are not eligible for a Social Security number (SSN). If you don’t renew your ITIN on time this year (2024), it could delay your tax return.

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What is an S Corporation, C Corp, and LLC: What they are and why they matter in 2024?

There’s a lot of buzz around the S Corporation Election and its implications for businesses. Let’s clear the air and help you make informed decisions. 

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Top eCommerce Accountant for Online Sellers & e-Commerce Companies

Feeling overwhelmed? We specialize in helping eCommerce and online sellers drive profitable results by taking the bookkeeping headache away.

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2024 Startup Questions Every Entrepreneur Should Answer

If you’re thinking about becoming an entrepreneur, you might have more questions swirling around in your mind right now than you can count.

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401K vs. IRA: Benefits and Differences for Smart Retirement Planning in 2024

As an individual and a business owner, the choices you make today will significantly impact your future, the future of your employees, and the future of your business. This is especially true when planning for retirement and making decisions about benefits.

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Why is loan documentation for business loans important?

In the world of business in 2024, transactions can get complicated, and it’s essential to keep everything above board to avoid trouble with the IRS.

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What are the phases of an eCommerce Business? Stage 1 : Profits $100,000 – $500,000

By now, your eCommerce business is likely no longer a side hustle but instead has become a part- or full-time job. And with an increase in sales comes an increase in responsibilities – as well as complexities.

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Reasonable Compensation and S Corps in 2024

Unlike a C corporation, which pays taxes on its income, an S corporation distributes its income, losses, deductions, and credits to shareholders’ individual tax returns on a pro-rata basis. 

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What are the phases of an eCommerce Business? Stage 1: Profits $ 500,000 – $ 1 million (Part 1)

At this phase in your business growth, take a moment to pause and congratulate yourself. But that’s exactly why it’s crucial to stop and recognize how much hard work you’ve invested in building this company from the ground up.

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Guide to S Corp taxes for Small Business Owners: S Corporation FAQs and Tips

While we see a number of questions related to S Corp tax saving strategies, the top question we get from small business owners regarding taxes is: “Am I paying too much in taxes?

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What are the phases of an eCommerce Business? Stage 1: Profits $ 500,000 – $ 1 million (Part 2)

This is where you present your current financial state, which helps with securing funding (if needed) and getting that commercial space you’ve had your eye on — because your house simply cannot handle another delivery.

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How to reduce S-Corp Tax as an S Corporation Shareholder in 2024

As an S Corporation, one of the best ways to minimize taxes is by compensating shareholders fairly. This article reviews setting appropriate compensation levels for your S Corp in 2024.

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What are the phases of an eCommerce Business? Stage 3: Profits $ 1 million+ (Part 1)

You’re not just running a business; you’re managing an enterprise. With multiple channels in play and a growing team, your processes must communicate seamlessly to drive strategic decisions.

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What to do after you get your LLC or INC?

Congratulations on setting up your new LLC or Incorporation (Inc.)! Now that your business entity is officially active, it’s time to take a few crucial steps to ensure everything runs smoothly and efficiently. 

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What are the phases of an eCommerce Business? Stage 3: Profits $ 1 million+ (Part 2)

Expanding into the global marketplace? You’re not alone. Many eCommerce businesses are diving into omnichannel marketing, content personalization, and automation. 

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10 Common Mistakes to Avoid when Starting a New Business: For Small Business Owners in 2024

The process of starting a small business can be an arduous one; there are numerous steps that need to be taken — and often in a precise order — to legally establish a business. As a result, the process can be overwhelming. Unfortunately, it’s also easy to overlook some important details and steps along the way.

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What are the phases of an eCommerce Business? Stage 0: Profits Under $100,000 (Part 1)

Whether you’re just thinking about selling online, have started dipping your toes into online selling, or your business is taking off after your first “big” month with profits trending over $30,000 this year, this is the start of your hard work and investment into building your business to reach your goals.

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12 Common Tax Problems to Avoid in 2024

Here are the top 12 tax issues, broken down into categories for business owners and individual taxpayers, and how everyone can minimize their impact this year.

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What are the phases of an eCommerce Business? Stage 0: Profits Under $100,000 (Part 2)

But let’s be honest—how many people actually create these business plans before starting a business? In our experience, very few. The most important thing is keeping an updated cash-flow forecast.

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Automated Bookkeeping for eCommerce and Online Sellers

We take your accounting worries away by creating monthly Balance Sheets and Profit & Loss statements that are easy to interpret and analyze over time.

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Carried Interests Undergo Significant Tax Treatments in 2024

Carried interests, partnership interests held in connection with services performed, will experience significant changes in reporting and taxation treatment this year.

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Where’s my Refund? How to Check Your Federal Tax Refund Status in 2024

Whether you chose direct deposit into one account, split your refund among several accounts, or asked the IRS to mail you a check, this tool provides online access to your refund information nearly 24/7.

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E-Commerce and Amazon Accounting for Amazon FBA Sellers

Selling on Amazon is like getting lost in a digital jungle among thousands of other sellers. Amazon’s services don’t cover your store’s day-to-day financials and accounting, leaving you to fend for yourself in the wild.

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Latest IRS Update: Navigating New 1099-K Reporting Rules for Business Owners

Today we’re breaking down some crucial IRS updates in a way that doesn’t make your eyes glaze over. So, let’s dive into the world of IRS Form 1099-K.

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Are elder care or caregiver expenses tax deductible?

Because people are living longer now than ever before, many individuals are serving as caregivers for loved ones (such as parents or spouses) who cannot live independently.

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