Business travel expenses: How they work under the new tax laws
With the recent changes in the tax codes, we've had questions from many business owners concerned about which expenses can still be written off and in what fashion. One area of particular interest is how these changes are impacting travel and entertainment expenses. Here's a quick look at how the changes in tax laws impact how you deduct business travel expenses. Let's start by looking at what's staying the same in business travel expenses. Even with the new tax laws, you can
Should you use a standard calendar year for your business?
Every once in a while, you hear about different calendars that are used for specific entities. The federal government runs from October to September. Many companies operate from July until June. But why are these fiscal years different than the standard calendar year? Why do some entities decide to operate using a different fiscal calendar, and should you do the same for your business? Here are some examples of situations where you should consider what type of calendar to use
Return on Investment: What it Means for Your Business
When it comes to running a business, there are all kinds of terms you'll hear thrown about that you've never really considered before. One of the most common terms is return on investment, or ROI. But how do you explain what kind of ROI your business has if you don't understand the term itself? Here's a quick primer to help get you started with this basic business concept. In its most basic sense, return on investment is a ration that shows how profitable a business, strategy
Focus on the Founder: Nate Salah, MBA
At AccountRely, we always work hard to provide you with the best possible information and services to meet your accounting and business services needs. But how did we get started, what's formed that personal touch to help your company excel and who's driving our company forward? Here's a quick look at Nate Salah, AccountRely's and the Tax Center's founder. Nate Salah has been an active professional in the tax accounting field since 1993. Growing up in a family of entrepreneur
5 Top Business Productivity Apps
With the prevalence of smartphones and tablets today, odds are that you use mobile devices for any number of important tasks to help keep you organized. But what about your business? There are a wide range of apps available today to help you boost your professional productivity, from document management to organization to accounting. Here's a quick overview of some top apps to help you get started Evernote: This app is an awesome suite of tools that help you organize any numb
Employee, Contractor or Freelancer: Differences in Tax Approaches
Today's workforce is undergoing rapid and dynamic change. While being an employee is still the most common type of work arrangement, the number of independent contractors and freelance workers has been growing significantly over the past several years. Freelancers now account for over one-third of workers in the US economy. But what's the difference between these groups and how does it impact tax approaches? Here's a real-life example of the difference between a freelancer or
A Quick Overview of Common Accounting Packages
When you're running a business, accounting is one of those tasks that must be completed on a regular basis to keep the doors open and the lights on. Modern accounting software has made this task much easier, but which package is the right one for your company? Here's a quick overview of some common business accounting packages: QuickBooks Online: As one of the most popular accounting packages available today, QuickBooks works well with a wide range of other software packages.
Considering an e-commerce business? Here are a few things you still need to know
If you're considering starting an e-commerce business, do you know what's involved in the process? Unlike a brick-and-mortar location, an ecommerce business can have a number of differences that are very important to your overall success. Here's a quick overview to get you going. Research and register a memorable business name, along with a web domain. Securing these aspects of your business early allow you to start the marketing process early, letting you gain ground earlier
How do you go about setting up a tax-exempt organization?
When you're setting up a charity or other non-profit organization, the steps involved can seem confusing, especially when you're not being paid for the process. Fortunately, it's relatively easy to get through the process and register your tax-exempt organization. Here are a few steps to help you get started. Start with a plan. Setting up a document similar to a business plan helps you determine the best way to get your organization established and moving successfully. Resear