Running a business comes with a variety of responsibilities, and one of the most important is filing taxes. However, whether due to oversight, financial struggles, or misunderstanding, many business owners may fail to meet their tax obligations. While it might seem like a small delay, failing to file taxes on your business can lead to…
Over the last two decades, cryptocurrencies have evolved beyond what any investor would have dreamed back in the early 2000s. Digital currencies have experienced an exponential growth in popularity. Parallel to that, most investors have started to wonder: What happens if you don’t report cryptocurrency on taxes? Everyone wants a piece of the crypto cake….
Picture this; you wake up on your first day as a Shopify seller. The excitement of launching your online store is in the air. You have spent weeks designing the perfect website, curating products, and setting up marketing strategies. As your orders begin to pour in, you start thinking of your finances. Here’s where Shopify…
The world of business is moving at a quicker pace than ever before, and maintaining up-to-date financial records has become more important than ever before. However, quite a lot of businesses, especially smaller and medium-sized enterprises (SMEs), are known to routinely fall behind on their bookkeeping tasks. This lapse can lead to confusion in financial…
Understanding the varying types of tax forms can leave even expert accountants scratching their heads. Two of the documents that confuse many businesspeople are the W2 and W4 forms. Let’s break down the W2 vs W4 form comparison, making it easier for you to understand the forms’ purposes, differences, and significance. W2 vs W4 form…
For business owners looking to maximize their financial efficiency and business gains, their understanding of the tax system and its particulars is vital. One element that tends to stand. Out for business owners is the Qualified Business Income (QBI) deduction which can reduce taxable income by a huge margin. This deduction can be availed through…
It can be quite hard to trust software to do all your accounting for you right off the bat. All new additions to your workflow take some time to get used to, and accounting software is no exception. Navigating the QuickBooks vs NetSuite debate can feel an awful lot like being caught in a maze….
Starting your own business can often feel like an adventure. Setting up an LLC is akin to setting sail and taking the first step outside your comfort zone. In the beginning, you’d definitely enjoy that wind sweeping through your hair. But it won’t be long before the currents get strong, and it becomes hard to…
Ever wondered “What are advisory shares and why do I need to learn all about them?” The answer lies in the question. An advisory share is just like any other type of share except, well, that it is offered in exchange for advice! Advisory shares are often great news for companies, especially startups that are…
NetSuite is a single, cloud-based platform that provides businesses with enterprise-grade tools to manage all their operations. The enterprise software company, NetSuite, known for having began the cloud revolution and shaking the status quo of the way business was done, started their own operations with ERP (enterprise resource planning) systems, but have, over the past…
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