Menu

organizing your online sales finances for taxes


About Me

organizing your online sales finances for taxes

Running an online sales business has opened a lot of doors for my family. It has provided us with the additional income that we needed to get through some hard times. My wife has been taking care of this business from the beginning and has done quite well with it. The one thing that she overlooked was the bookkeeping aspect of it. She has done her best to hold onto receipts and track spending, but she didn't do very well putting it all into a spread sheet for tax season. If this is something that you are experiencing, this blog can help you reclaim the organization you need to optimize your finances for tax season.

Latest Posts

6 Things First-Time Tax Filers Should Know
21 February 2017

If you are filing your taxes for the first time, t

Self-Employed? Make Sure You Avoid These Three Common Tax Mistakes
13 January 2017

Doing your taxes as a self-employed individual is

Reporting A Stock Transaction Loss As A Wash Sale
16 December 2016

Some investors repeatedly buy and sell stock in a

Does Your Home Business Need A Financial Consultant?
31 October 2016

If you have a small home business, you may be eage

How Can I Reduce My Small Business Taxes?
29 September 2016

Especially when your business is still growing, th

6 Things First-Time Tax Filers Should Know

If you are filing your taxes for the first time, the experience can be a bit scary and intimidating. Even tax professionals occasionally find themselves stumped with intricate questions. This guide will help you with some of those frequent questions that pop up surrounding tax season. 1. File Your Taxes ASAP In an ideal world, you would file your taxes as quickly as possible. You typically have until April 15th, plus or minus a few days depending on the weekend. Read More 

Self-Employed? Make Sure You Avoid These Three Common Tax Mistakes

Doing your taxes as a self-employed individual is a little different than doing your taxes as an employee. Here are three mistakes that you need to make sure that you avoid on your taxes; all three of these mistakes could end up costing you a lot of money. Mistake #1: Not Reporting Income Correctly One of the biggest mistakes that you can make when doing your taxes is not reporting your income correctly. Read More 

Reporting A Stock Transaction Loss As A Wash Sale

Some investors repeatedly buy and sell stock in a particular company in response to changes in the stock price. However, individuals who repurchase corporate stocks too soon after selling identical stocks at a loss must postpone the loss and report the sales transaction as a wash sale. Because taxable stock sale gains can be offset by stock sale losses, investors sometimes sell stocks that have fallen in price to harvest the available loss. Read More 

Does Your Home Business Need A Financial Consultant?

If you have a small home business, you may be eager to keep as much of your income in your pocket as possible. However, there are a couple of reasons why hiring a bookkeeper or small business accounting team can be beneficial for even the smallest businesses. Here are some reasons to look into a small business accounting service. Helps You Focus Your Time As a new business owner, it's important to be able to focus a lot of your time on creating more revenue and expanding your business' reach. Read More 

How Can I Reduce My Small Business Taxes?

Especially when your business is still growing, the cost of taxes can be daunting for a small business. There are a few steps that you can take to reduce your taxes considerably. Hire a Tax Specialist The first thing to do is hire a consultant who will be able to offer you sound advice on your tax planning. A small business accounting specialist from a company like Bliss & Skeen CPAs with experience doing tax planning is one good option. Read More