Learn More

Accounting News

Thumbnail

New Features of the Quickbooks 2012 Small Business Accounting Software

Intuit has released QuickBooks 2012, the latest version of its popular small business accounting software, which introduces several new features. Users will find changes in reports, tracking of sales prospects, and timesheets. The Premier edition, which retails for a higher price, has some additional functional alterations. The calendar in QuickBooks 2012 allows users to quickly…

Category:

Read more
Thumbnail

New California Sales Tax Law Affects eCommerce

What is the New California Sales Tax Law? California has adopted a new law placing it at the forefront of efforts to collect online sales tax from online sales in the state. As of July 1, 2011, the new California sales tax requires online retailers to collect sales tax if the company has any business…

Category:

Read more
Thumbnail

Navigating eBay business tax deductions: do you run a hobby or business?

The last time I wrote about the ebay sales tax, I described the importance of knowing your cost (or other basis) for assets you personally hold. Selling them on eBay – like selling by any other private transaction – will incur a capital gain or loss. The situation is different if you purchase items to…

Category:

Read more
Thumbnail

eBay accounting 101: learn about taxes on eBay sales

You probably don’t have correct information about the tax impact of selling on eBay, or on eBay taxes in general. The right answer depends upon the distinctive nature of your selling activity. There are three ways to use eBay as a sales avenue. Firstly, you can simply sell items you originally acquired for personal use.…

Category:

Read more
Thumbnail

Independent Contractor or Employee?

I find that many small business owners are dealing with the issue of classifying workers as employees or independent contractors. This is particularly true as the internet allows more virtual offices with individuals working from home. There are some obvious cost and liability benefits from using independent contractors—no employment taxes, no employee benefits, and fewer…

Category: ,

Read more
Thumbnail

Top 3 Privacy Risks To Your Business

You are a successful business owner. Your time is short and your budget is tight. But you especially want to hear about something if it can improve your business, make clients and customers happier, and save you money. What if you could do all that completely free and with little time and effort involved, too?…

Read more
Thumbnail

Tax Agencies Now Auditing your QuickBooks File

I’m constantly amazed by the shear volume of tax laws and changes that have been coming down the pipe for the last couple of years. We are definitely living in a whole new world as far as compliance and tax laissez-faire go. I heard recently that the IRS and and other local tax authorities are…

Read more
Thumbnail

Welcome to the Profitwise Accounting blog!

This blog will feature articles on taxes, accounting tips and strategies to help your business grow!

Category:

Read more