Accounting Software for Ecommerce

The first step in starting up an ecommerce business is building your online store. Now you're ready to start taking orders, processing payments and shipping out your products. The second step is equally important: choosing software that will keep your books up to...

One-Participant 401(k): A Tax-Exempt Option for the Self-Employed

If you're an independent contractor or the owner of a small business with no full-time employees, there's a retirement savings plan just for you. The IRS calls it a One-Participant Retirement Plan; you may also hear it referred to as an Individual 401(k) or a Solo...

Meet Your New Business Partner: AI

In today's workplaces, a revolution is underway that's as big as the Industrial Revolution of the 19th century. It will transform the way we do business, no matter what industry we're in.  It's called Artificial Intelligence — the integration of machine learning and...

Do Retailers Have to Collect Sales Tax on Drop Shipped Merchandise?

The short answer is probably yes. However, the regulations are complicated, and different for every state.   What Is Drop Shipping? This arrangement allows you to avoid the costs of warehousing and labor of shipping your inventory to customers. Here's how it...

How (and Why) to Go Paperless

Does your office still contain piles and filing cabinets full of paperwork? Do you automatically print out everything "for your records?" Are you afraid that if you go completely digital, some documents might be lost? You're not alone. Many business owners still feel...

Optimizing Your Customer Service

Business moves at the speed of the internet; and those who don't keep up will be left behind. This is especially true in the delivery of customer services, whether to other businesses or consumers. In the olden days of the 20th century, good customer service consisted...

Net Profit and Retained Earnings: What’s the Difference?

You've probably seen these two terms on your monthly financial statements. Maybe you're not sure what they mean, how they're different — and if it really matters. Here's a quick overview to help you better understand the financial health of your business. Net Profit...

Free at Last! 5 Steps to Get Your Business Out of Debt

The vast majority of small businesses need a loan to get started or take advantage of a growth opportunity. That's all perfectly normal. But what if the amount of debt — not to mention all that pesky interest you're paying — is causing you sleepless nights? Then...

Micro-Influencers and Small Retailers: A Perfect Match

  We've all seen A-list celebrities endorsing mega brands and stores. This marketing strategy's price tag (up to $1 million for celebrities like Kim Kardashian) is far beyond the scope of most retailers' budget, but there's another way to get in on the...

Calculate Your Capital Gains Tax in 5 Easy Steps

If you've sold stock, real estate or other assets at a profit, you will have to pay income tax on that profit — known as capital gains tax. The amount you pay depends on your income bracket. Here's how to figure how much tax you owe. Bear in mind, this calculation is...

Do You Really Want to Be a 1099 Independent Contractor? Pros and Cons

Quitting regular employment and being your own boss can indeed be a dream come true. However, you'll also have some new hassles to deal with. Only you can decide if the trade-off is worth it. Pro: Being Independent There'll be nobody telling you what to do, how or...

7 Benefits of Inventory Accounting

If your business sells, resells or makes new products from purchased stock, then your inventory is probably your biggest asset. The right accounting tools can help you make sure that inventory maintains its value, as well as guide business decisions for maximum...

Back Office Backlog? How to Choose an Outsource Partner

There comes a point in the life of every growing business when its administrative functions can no longer be handled by a multi-tasking manager without negatively impacting the core business. Those whose talents and expertise built the core business must be allowed to...

Choosing Inventory Management Software for eCommerce

To keep your business running profitably, you need to be like Goldilocks: not too much inventory and not too little. In the first case, you have too much cash tied up in stock and may have trouble meeting operating expenses. In the second, you might miss out on sales....

When SMB Owners Use QuickBooks — 6 DIY Mistakes to Avoid

QuickBooks accounting software can be a great tool for small businesses — but only if you're using the tool right. We often see mistakes or omissions in books that were DIYed by our clients. Unfortunately, even little mistakes can snowball into big, expensive...

Still Writing Paper Checks? Here’s How Much It Costs You

With online bill paying from your computer or mobile app now so convenient, we're always surprised by how many small business owners still make payments with paper checks. It seems like a harmless habit, but is it really? Let's see. Here's an example of the costs of...

Behind on Your Bookkeeping? Here’s How to get ahead

The receipts are piling up, you don't remember which customers have been invoiced or suppliers paid yet, and none of it has been entered in your bookkeeping system. Right now it looks like a mountain you don't have the time or energy to climb — and that mountain gets...