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Self-employment can be rewarding, offering freedom and flexibility. However, it also comes with added responsibilities, including calculating and paying self-employment tax. This tax can be confusing, especially for new entrepreneurs. In this guide, we’ll walk you through how to calculate your self-employment tax accurately so you can stay compliant and avoid surprises at tax time....

As a business owner in Renton, Washington, maintaining accurate financial records is crucial for your company’s success. However, many entrepreneurs make common bookkeeping mistakes that can lead to serious consequences. Let’s explore the top five bookkeeping errors Renton business owners should avoid to ensure their financial health and compliance. 1. Mixing Personal and Business Finances...

Being self-employed means you handle things an employee doesn’t usually worry about, like figuring out quarterly taxes, tracking business expenses, and planning for the year ahead. One key factor is self-employment taxes, which include Social Security and Medicare contributions. The positive side is that you can claim certain deductions to reduce your taxable income. These...

“QuickBooks login” is the process of accessing your QuickBooks account online. Once you log in, you can see financial records, track expenses, create invoices, and manage bookkeeping tasks. Here, we’ll go through how to log in, what to do if you have trouble, and give examples. This helps both new and experienced users understand the...

The Small Business Administration (SBA) has once again written off billions in Covid-era small business loans, raising concerns about oversight and long-term impacts on borrowers. Here’s what small business owners need to know about the latest developments in the Covid Economic Injury Disaster Loan (EIDL) program. Billions in Covid EIDL Loans Charged Off In fiscal...

If you’re a solo entrepreneur, you know that running your business means wearing many hats. One of the most critical roles you play is managing your finances. Creating and following a budget helps you understand your income, expenses, and profitability. This is where a budgeting for dummies worksheet can help. It simplifies the process, making...

QuickBooks Time (Tsheets intuit), formerly TSheets, is a versatile tool for time tracking and employee scheduling that integrates seamlessly with QuickBooks. This guide explains its features, benefits, and challenges and provides step-by-step instructions to help you make the most of it. What is QuickBooks Time? QuickBooks Time is a cloud-based solution for businesses to streamline...

Proper bookkeeping is essential for churches to maintain financial transparency, comply with regulations, and effectively manage their resources. This guide will walk you through the key aspects of church bookkeeping, providing detailed insights and practical examples to help you establish a robust financial management system for your religious organization. Understanding Bookkeeping for Churches Bookkeeping for...

What Accounting Software Is Best for Small Businesses? Exploring Top Accounting Platforms Are you a small business owner wondering, “What accounting software is best for small businesses?” Choosing the right accounting platform is essential for managing your financial health effectively. Accounting platforms are software tools that help businesses manage their financial records seamlessly. These platforms...

Business owners often face challenges in managing their Amazon purchases, especially when relying on manual entry into their bookkeeping software. The good news is that bookkeeping software like QuickBooks Online, Xero, and FreshBooks offer solutions to automate tracking of your Amazon purchases. Through integration with your Amazon Business account, these accounting software platforms can automatically import transactions, helping you categorize expenses accurately and efficiently.

If you run a salon and use Square for your point-of-sale (POS) needs while managing your books with QuickBooks Online (QBO), you’re probably looking for a way to efficiently organize your income and expenses. The good news? There are tools to help you seamlessly map your Square transactions into QuickBooks Online, saving you time and...

Keeping your finances in check is one of the most important aspects of being an independent contractor. Proper bookkeeping for contractors helps you stay organized, simplifies tax preparation, and enables better decision-making. Here’s everything you need to know to stay on top of your financial records and ensure your business thrives. Understanding Bookkeeping for Independent...

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