Small business owners can prepare their own tax returns for a fraction of the cost of tax professionals. We compared a dozen programs to identify the best small business tax software based on pricing, features, and ease of use. The best tax software for small business allows importing of QuickBooks data and automatic error checking….
All Accounting Articles - Page 5
What Is Amortization?
Amortization is an accounting technique that is used to lower the cost value of a finite life or intangible asset through scheduled, incremental charges to income. Like depreciation, amortization spreads the charges out across multiple years so that the costs may be set against the revenues of several years rather than all in one year….
S-Corp Taxes: The Ultimate Guide [+Free Checklist]
S corporations (S-corps) are pass-through entities where the income, deductions, and credits of the corporation pass through to its owners. S-corp tax rates are the same as the personal income tax rates. That’s because the owners pay taxes on their share of the S-corp’s income. Some states impose S-corp taxes. S Corp taxation can get…
How to Do Payroll Accounting: A Step-by-Step Guide
Payroll accounting is the act of recording employee compensation, keeping track of money withheld from employees’ paychecks, and calculating the employee and employer share of taxes and benefits. You can accomplish this in five easy steps: prepare to hire employees, gather key employee documents, calculate and record paychecks, file and pay taxes on time. Calculating…
Intuit QuickBooks Self-Employed: Cost & Features
QuickBooks Self-Employed is a small business accounting software for self-employed individuals required to file a Schedule C, such as freelancers, real estate agents, Uber drivers, and independent consultants. Pricing plans start at $10 per month, and you can track all income and expenses, mileage to and from clients, and file your taxes with the QuickBooks…
TaxAct vs TurboTax: Price, Features, & What’s Best in 2019
TaxAct and TurboTax are tax preparation software products that are good options for people to prepare their own tax returns. TurboTax has more features and provides the option for review by a licensed tax professional. TaxAct is less expensive and provides a good set of features for most people who prepare returns. When to Use…
FreshBooks vs. QuickBooks: Price, Features, & Who’s Best in 2019
With hundreds of small business accounting software solutions on the market, deciding which software to use for your business can be a bit overwhelming. FreshBooks is known for its stellar invoicing and payment process, and QuickBooks is used by most accountants and bookkeepers. In this article, we compare the pricing and features of FreshBooks versus…
How to Get a PTIN in 4 Steps [+Free Checklist]
Tax professionals must have a Preparer Tax Identification Number, or PTIN, if they are paid to prepare tax returns. Because PTINs expire every December 31st, tax preparers need to renew their PTIN before tax season starts. Preparers can get or renew a PTIN online in about 15 minutes or by mail in about six weeks….
39 Free QuickBooks Online Tutorials: Learn QuickBooks Fast
Welcome to the FitSmallBusiness free QuickBooks Online tutorials. Whether you are brand new to QuickBooks Online or could use a better understanding of the program, these tutorials are designed for you. FitSmallBusiness readers can receive up to 50 percent off their purchase of QuickBooks Online. QuickBooks Online Tutorial: What’s Covered Our course starts at the…
Xero Accounting Software & Alternatives
Xero is an affordable, user-friendly accounting software that is capable of managing all of your business income and expenses. Pricing plans run between $9 to $60 per month, which is more than FreshBooks and Wave but a little less than QuickBooks. Wave includes similar features to QuickBooks with one exception ― no live customer support….
Excise Taxes: A Guide for Small Businesses
The federal government imposes excise taxes on a variety of products and services that are manufactured in or imported into the United States. Business collect excise taxes and pay these excise taxes over the the government. Excise taxes apply to alcoholic beverages, tobacco, firearms, airfares, telephone service, and many other products and services. Alcohol and…
Quicken vs QuickBooks Online: Price, Features, & What’s Best 2019
As a business owner, deciding which small business accounting software to use for your business can be overwhelming. There are a number of good products on the market, including Quicken and QuickBooks. In this article, we compare pricing and features of Quicken versus QuickBooks so that you can decide which is best for you. When…
