tax filing for online sales

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tax filing for online sales

Do you do any selling online? Did you know that selling things online can count as a business and that you could be losing money if you don't prepare your taxes just right? Online sales have helped my family get through a very difficult year. Then, when I found out what I was going to have to pay in taxes for the income that I earned through those online sales, I about had a heart attack. After doing some digging, I decided to skip filing my taxes myself and took them to a professional for help. Find out what an accountant uncovered for me and how it helped put my money back in my pocket.

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Use Your Smartphone To Make Your End-Of-Year Tax Preparation Easier

20 December 2016
 Categories: , Blog

There are now three things that are certain in the world: death, taxes, and smartphones. Most people today have a smartphone device that is constantly on them -- so why not leverage that technology to make end-of-year tax preparation easier? The ease of your tax preparation will always depend on how timely and accurate your records are. An always on device that is always with you can help. Automatically Record Your Receipts Read More …

Safeguarding a Tax Return with an Identity-Theft PIN

11 November 2016
 Categories: , Blog

The problem of identity theft affects a broad array of financial services, including the filing of income tax returns. Tax filers who have been issued an identity-theft PIN by the IRS must generally include the number on their personal income tax return. Individuals who have had their tax returns targeted by identity thieves may receive a CP01A Notice from the IRS. The mailed letter includes a personal identification number that you must use on your income tax return for the upcoming year. Read More …

There Are Goldmines Of Data Hidden In Your Payroll

6 October 2016
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You might think of payroll as a basic necessity to your business—you take care of the totals and move on. But there is actually a lot of information within your payroll data that could be applied to running a better business. Here are some takeaways from your payroll.  Attendance You may need to study attendance patterns throughout the work year. There are key signs that point to dissatisfaction, such as lots of time taken off at the end of the year. Read More …

Year-Round Finance Tips For New Restaurant Owners

2 September 2016
 Categories: , Blog

Your new restaurant might be a dream of yours that is just starting to come true, but the tax season can be a nightmare if you aren't vigilant all year round. Consider these year-round tax finance suggestions so that when it's finally tax time, you can deal with it more easily. Have Separate Accounts At the end of the tax year, you will have to report the income for your restaurant, and you will also have to account for supplies, equipment, repairs, and other expenditures you had during the year. Read More …

5 Not Obvious Ways To Increase Your Tax Refund

15 July 2016
 Categories: , Blog

If you felt like you paid too much in taxes or just a refund that was too small last year, this year take a closer look at your taxes. Here are five ways that many people overlook that could easily increase the tax refund that your receive this year in a legal manner that is written into the tax code. #1 Filing Statuses If you are married, you need to look carefully at what filing status that you and your spouse used when you both filed your last set of taxes. Read More …