Category: Small Business Tips


Thoughts on growing a business, raising money, getting the word out,
and increasing profits. Plus, ZipBooks news!

  • Sole Proprietorship vs. LLC: Pros and Cons of each

    Posted 3 days ago in Small Business Tips
    by Deborah Sweeney

    For many entrepreneurs fresh to the startup world, they’re likely to incorporate as either a sole proprietorship or a limited liability company (LLC). Both legal structures are affordable and require little paperwork in order to get up and running. So, which one should your business choose? Are there pros and cons associated with these entities? […]

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  • 8 steps to setting up a food truck

    Posted 6 days ago in Small Business Tips
    by Megan Jensen

    Maybe you’ve thought of opening a restaurant, but don’t have enough capital to start with a brick-and-mortar storefront. A food truck could be a good alternative. Lower overhead, the ability to move locations if a certain place doesn’t generate enough revenue, and no need to pay wait staff or dishwashers.  While it may not be […]

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  • Tax Gap: Unpaid Federal Taxes in the US Could End World Hunger 3.5x

    Posted 2 months ago in Small Business Tips
    by David McSweeney

    In a 2015 report, the U.N. estimated the annual cost of eliminating world hunger to be $116 billion per year. In 2016, the IRS published their Federal Tax Compliance report, which estimated the annual tax gap (true tax liability – tax eventually collected) at $406 billion — enough to end world hunger 3.5x.   Ending World […]

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  • What does a bookkeeper do?

    Posted 4 months ago in Small Business Tips
    by Tim Chaves

    We get this question a lot. That’s probably due to the business we’re in (accounting software, with a healthy dose of bookkeeping on the side). Either way, we talk about it all the time. What does a bookkeeper actually do? There are often other questions that go along with that one: are bookkeepers the same […]

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  • Hiring a Virtual Bookkeeper for Your Small Business

    Posted 4 months ago in Small Business Tips
    by Brad Hanks

    Modern technology simplifies and streamlines staffing a small business, no matter where you are. You no longer need to the traditional full office with people typing away in cubicles. Skype, instant messaging, and webinars allow us to work from anywhere in the world, and still get the job done. But technology doesn’t just help you […]

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  • Uber tax tips (also Lyft and other ridesharing drivers)

    Posted 9 months ago in Small Business Tips
    by Karin Hernandez

    If you’re a driver for Uber, Lyft, or some other ridesharing service, you may not be aware that you’re considered an independent contractor, or in other words, self-employed. Lawsuits are pending in some states that contend that you should be treated like an employee but until that is all sorted out, for tax purposes, you’ll […]

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  • When to Use Tax Form 1099-C for Cancellation of Debt

    Posted 9 months ago in Small Business Tips
    by Karin Hernandez

    Sometimes, despite your best efforts to manage your debt responsibly, the situation gets out of your control and you find yourself owing more than you can reasonably pay back. In that case, there are ways for you to negotiate with your creditors so that they accept less than the total of what you owe. Unfortunately, […]

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  • What Is IRS Form 1099-SA: Distributions from an HSA, Archer MSA, or Medicare Advantage MSA?

    Posted 10 months ago in Small Business Tips
    by Karin Hernandez

    While most health insurance plans offer the ability to pay for your premiums with pre-tax dollars, there are now some plans that offer additional tax-free or tax-deferred benefits. If you participate in a high-deductible plan that is paired with a Health Savings Account (HSA) or Medical Savings Account (MSA) for your out-of-pocket expenditures, then your […]

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  • 1099-K vs 1099-MISC—What’s the Difference?

    Posted 10 months ago in Small Business Tips
    by Brad Hanks

    If you use contract employees (also known as independent contractors, freelancers, or self-employed workers), you know you have to issue them a 1099-MISC if you pay them over $600 in a year. But what’s this new thing called a 1099-K, and what does it have to do with your business? In other words, what’s the […]

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  • What Is a Schedule K-1 Form?

    Posted 10 months ago in TaxesSmall Business Tips
    by Jenny Rollins

    Taxes can get all kinds of complicated. You have to fill out a series of forms that you don’t understand and then the IRS penalizes you when it’s not done properly. There’s no reason to make things harder than they need to be. So, let’s break down the Schedule K-1 form together. Very basically, a […]

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