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Don’t Tell the San Diego Lawyers or You’ll Hurt Their Feelings—Your Small Business Only Needs a Great Tax Accountant

Many small businesses put off hiring an accountant to the very last. Yet one of the most important elements of any startup or small business is maximizing profit. And one of the biggest factors that can impact your bottom line is what you are taxed. Many San Diego companies attempt to reduce their tax expenditures…

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Key Mistakes Small Business Startups Make and Why Profitwise Accountants in San Diego Can Help

We work with a large assortment of small businesses and startups here in the San Diego, California area. Many companies that are just getting started, whether they are investor funded or bootstrapping it, might not recognize the various accounting needs that a startup has. We specialize in the tax and business consultation of new companies.…

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Thinking of selling your products cross – border? Read these 5 Tips to avoid common pitfalls.

Selling your products outside the U.S. has never been easier but there are some common pitfalls that can trip you up if you aren’t prepared. Are you thinking of selling your products outside the U.S? If you are like most small business owners, it’s likely there will be more to it than you think. Many…

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Online Marketplace Seller Voluntary Disclosure Initiative: Potential Silver Bullet for Back Sales Tax Issues.

The Multistate Tax Commission (MTC) National Nexus Program is sponsoring the Online Marketplace Seller Voluntary Disclosure Initiative. This initiative gives online sellers an opportunity to get relief from back sales and income taxes. Currently 24 states are participating in the initiative and tax relief is available in most of the participating states. Important: There is…

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How the new Paid Sick Leave Law is impacting small business

If you have employees or plan to hire, you should be familiar with The Healthy Workplaces, Healthy Families Act of 2014 (AB 1522) that became law in January and went into effect July 1, 2015. This law, informally known as the Paid Sick Leave Law, has a disproportionate impact on small businesses. The law’s biggest…

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Chip Card Compliance Mandate – Is your small business compliant?

Important information if your business accepts credit cards at the Point of Sale (POS). The Europay, MasterCard and Visa Cards (EMV) Compliance mandate, also known as the Chip Card compliance mandate, went into effect October 1, 2015. The payment industry’s transition to Chip Cards is intended to improve security and reduce credit card fraud. While…

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eCommerce

Selling digital products and services overseas? What you need to know about new VAT rules

New VAT (value added tax) rules effective January 1 increase compliance burden posing significant challenge for small and medium size businesses. As a CPA who helps many clients with their ecommerce accounting, one area that I focus on is the ever increasing complexity of sales and use taxes. If you are a small business selling…

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Client Highlight: Bon Affair on Shark Tank

In each issue we take the opportunity to highlight one of our amazing clients. Meet Jayla Siciliano, founder of Bon Affair. Among Jayla’s many accomplishments, she inked a deal on Shark Tank with Mark Cuban earlier this year. If you don’t know Bon Affair yet, it is where vice meets virtue. A new wine spritzer…

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Mid-Year Tax Planning Tips

Now is the time to review your tax plan for 2014 and make any adjustments. If you act now, you will still have time to impact your 2014 tax obligations. Here is a quick list to review to help you determine if a tax plan review is in order. Have you or will you have…

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Sales Tax Changes

Mid-year is generally the time we see implementation of Sales Tax Changes as it is the start of a new fiscal year for most governmental agencies. If your business is involved in interstate ecommerce, you are a remote seller or even if you sell services, there are some sales and use tax changes and trends…

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