Getting audited is a stressful scenario that most people hope to avoid, but it’s a reality that can happen to anyone. When the IRS selects a taxpayer for an audit, they’re essentially asking for proof of income, expenses, and deductions to verify the information reported on the tax return. The supporting documents—often in the form…
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…
Have you ever signed up for a service that magically charges your account every month without you lifting a finger? Congratulations, you’ve experienced the magic of a recurring transaction! But what is a recurring transaction exactly, and why is it such a game-changer for businesses and consumers alike? Let’s uncover the wonders of recurring transactions,…
As a Turo host, it can be hard to break down your tax obligations. But with this Turo tax guide, you’ll learn everything you need to know. This information would act as a compass for you while you wade through the difficult waters of filing taxes related to your Turo business. Whether you’re a new…
Managing your finances, whether personal or for your business, can sometimes feel like a game of juggling with too many balls in the air. But the good news is there are fantastic tools available to help you get your finances under control. The two rising stars in the financial software space—Quicken and QuickBooks—have been go-to…
Alright, buckle up, Turo hosts! We’re about to embark on a tax-saving road trip, and trust me, you’re going to want to ride shotgun for this one. If you’re renting out your cars on Turo, you might be overlooking some juicy tax deductions that could keep your wallet happy and your accountant impressed. Yes, tax…
As the year draws to a close, business owners and finance teams face the exhausting task of wrapping up their financial records. Closing out your books properly doesn’t just consist of following protocol—it’s supposed to focus on ensuring your business starts the new year on a strong financial footing. A well-executed year-end accounting checklist can…
Running a small business can be both rewarding and challenging. Between managing day-to-day operations, marketing, and customer relationships, financial management often takes the backseat. In fact, maintaining consistent financial reporting should be at the forefront. But what does consistent financial reporting mean, and why is it so important for small businesses? Consistent financial reporting refers…
Effective accounts payable management is essential for any organization that wants to maintain its financial health. It involves the systematic process of managing and paying outstanding invoices, ensuring that obligations are met on time while maintaining accurate records. Cleaning up your accounts payable management processes not only improves cash flow but also enhances operational…
Managing payroll can be one of the most challenging aspects of running a business. With complex regulations, varying tax requirements, and the need to ensure every employee is paid correctly and on time, payroll management can quickly become a burden. This is where Gusto comes in—a modern payroll and HR platform designed to streamline payroll…
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