Menu
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.
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.
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.
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.
Feeling overwhelmed? We specialize in helping eCommerce and online sellers drive profitable results by taking the bookkeeping headache away.
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.
We take your accounting worries away by creating monthly Balance Sheets and Profit & Loss statements that are easy to interpret and analyze over time.
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.
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.
An eCommerce business has the potential to make an individual extremely wealthy while also allowing them to start a company from the comfort of home with very little capital.
No matter the phase of your eCommerce business in 2024, we identify the ongoing CPA resources needed to be accounting efficient and minimize your taxes as much as legally possible.
Cloud accounting software is similar to traditional, on-premises accounting software, but it is hosted on remote servers, similar to the SaaS (Software as a Service) business model.
Below are just a few of the fraud-related news stories from recent years about unlicensed tax preparers committing fraud. From all over the country and all walks of life, these “tax preparers” knew what they were doing. Unfortunately, their clients did not.
Gambling takes many forms, including casino games, horse racing, sportsbook betting, lotto tickets, scratchers, bingo, and more. For most, gambling is a fun, recreational activity.
On a basic level, a virtual CFO (or vCFO for short) is exactly what it sounds like. This is someone who performs all the services normally associated with a chief financial officer, only in a third-party capacity.
Whether you’re a business owner, high-level executive, or investor, you know that every cent counts. As you scale operations, your Human Resources (HR) needs will grow exponentially.
Starting a new business is rarely a walk in the park. First-time entrepreneurs often underestimate the journey from a concept to a real-world business.
Business owners often wonder which business entity makes the most sense for their situation. An S Corporation (S Corp) is a popular choice because it offers both personal liability protection and certain tax benefits for corporate and personal income tax.
In 2024, businesses can still deduct 50% of the cost of business-related meals. The temporary 100% deduction that applied in 2021 and 2022 is no longer available, so it’s back to the usual rules.
When you’re passionate about something, it’s easy to lose track of time—and money—pursuing it. But if that passion starts bringing in cash, it’s time to ask yourself: Is this a hobby, or have I inadvertently become a business owner?
As you piece together your budget, it’s not just about the numbers—it’s a chance to gain a deeper understanding of how your startup operates.
When tax season rolls around, every business owner starts looking for ways to minimize their tax bill and keep more of their hard-earned money. Knowing which business tax deductions you can claim is key to ensuring you’re not overpaying.
If you run a small business or are self-employed and pay taxes annually, you might be missing out on savings due to inefficient tax planning. Paying your tax bill all at once at the end of the year might seem straightforward, but it can lead to poor cash flow and those dreaded IRS penalties.
Intuit promotes their products like QuickBooks and TurboTax as quick fixes for your tax needs. And sure, if you’re a seasoned pro, handling your own taxes might work out just fine.
Accounting for small businesses can feel overwhelming, but with the right help, it doesn’t have to be. A certified public accounting (CPA) team can play a critical role in helping startups and small businesses through the dreaded tax season and beyond, making day-to-day operations smoother.
We’re all responsible for paying our fair share of taxes each year. But what happens when the amount you owe is simply out of reach?
Do you know if the accounting method you’re using is the right one for your business? The difference between cash and accrual accounting lies in the timing of when sales and purchases are recorded.
Most businesses begin as a sole proprietorship because it’s easier to start and requires less paperwork and regulatory overhead. It generally costs less than filing as a Limited Liability Company (LLC) or Incorporation (INC).
If you aren’t one of those lucky Americans who get a tax refund from the IRS, you might be wondering how to go about paying your balance due.
In recent years, the IRS has fine-tuned the rules surrounding Form 1099, and 2024 is no exception. If you’re handling non-employee compensation, you’ll need to stay updated.
© 2022 Insogna CPA PC. All rights reserved.