You went into the e-commerce business with high hopes, and now here you are—flat broke with nothing to show for it. “You’ll make a ton of money!” they said. “It will be easy!” they said. “You’ll never have to work another 9–5 job in your life!” they vowed. And now it all feels like lies,…
Can you imagine overpaying on Amazon sales tax to the tune of $500,000? As crazy as it sounds, it actually happened. And we know because we were the ones who caught the mistake! This particular seller—who was NOT a tax client of ours during this time period—had fallen behind on their bookkeeping and hired…
If accounting makes your head spin, you’re not alone. Many entrepreneurs feel this way—and rightfully so! It’s a complicated field, after all. But don’t worry, in this article, you won’t actually be doing any math (whew!). Instead, we’ll teach you some basic accounting terms you need to know in order to talk shop with…
Nobody wants to see their dream go up in flames, but that’s precisely what can happen to small business owners who burn money on unnecessary expenses. In this article, we go over 5 big ways small businesses waste money so you can avoid making these costly mistakes. 1. Office Space We get it; having…
So you’re tired of the 9-5 grind and you want to be your own boss. Welcome to the club of over 31 million American entrepreneurs! But before you make that leap, you should be prepared for the reality of entrepreneurship, because truth be told, it’s a lot different than what’s shown on TV. The…
Many small business owners view bookkeeping as a necessary evil. But the truth is, bookkeeping can either be your greatest friend or your biggest foe. When done correctly, accurate financial records can be used to measure success and guide future business decisions. When done incorrectly, however, the consequences can be severe, with penalties that may…