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Keep checking back for frequent updates to common bookkeeping and accounting questions specific to small businesses. Have any suggestions for topics? Please reach out with your questions.

Why You Should Avoid Wash-Sales

Nobody likes paying too much tax, right? We may all agree, but when it comes to the sensitive topic of having to pay tax, the practice of using a wash sale is both clever, and silly at the same time. Let us explain why… It’s clever because it’s a practice that means...

How do I Start a Business as an LLC?

WHAT IS AN LLC? Odds are, if you’re reading this, you’re in the process of thinking about or beginning the initial steps of starting your own business.  While a congrats is in order, let’s look at some basic steps that should be taken first; chiefly, what is an LLC? A...

How a Part-Time Jobs & Side Hustles Works at Tax Time

Do you have a part-time job in addition to your full-time job? Or maybe you do some ride-sharing on the-side, such as with Uber or Doordash - or other similarly-structured ‘side-hustles’? Are you filing your taxes soon? Then read on! Received a W2 from a Part Time Job...

EIDL, COVID-19 and Bookkeeping

EIDL, COVID-19 and Bookkeeping

What is the EIDL Loan? Have you found yourself and your business affected by recent economic hardships? Unfortunately, a lot of businesses, specifically small businesses, were greatly affected by the COVID-19 pandemic.   As a response, many were able to apply for an...

Taxes 101: Deductions- Standard vs. Itemized

Taxes 101: Deductions- Standard vs. Itemized

As we learned in our previous post Taxes 101: Definitions (miss it? No worries; check it out here!), a deduction is used to help lower a person’s taxable income by making their adjusted gross income (AGI) lower than their gross income.  Everyone will need to decide is...

Taxes 101- Definitions

Taxes 101- Definitions

  Still scratching your head trying to figure out why your tax return was so much smaller, or why you even may have, *gasp*, owed? Since the U.S. education systems fails miserably in teaching us all about taxes and how the system works, we’re going to break it...

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