Starting a new business can be an exciting venture. However, if you want to succeed, you have to pull resources like capital and human resource to start on the right grounds. Capital is an important piece of this puzzle, and without enough of it, the business is bound to fail. The good news is, that’s not how your dream of …
IRS Form 5472 — The Importance of Reporting Foreign Ownership of US Companies
From Budweiser to 7-Eleven and American Apparel, many of the names consumers love, trust, and consistently engage with are foreign-owned. In fact, foreign-owned companies employed over 7 million American workers and generated a massive 16% of all business investments in 2019, so it’s safe to say that foreign-owned businesses help drive a significant chunk of the American economy. With Globalization …
Working From Home? You Should Understand the Details of the Home Office Deduction
According to a recent PwC survey, 98% of employers (in the office setting) have shifted a significant chunk of their employees to remote work. And 89% expect it to stay that way even once the pandemic has officially “ended.” So, there’s a good chance that you’re reading this blog post next to a hot cup of joe and a …
Tax-Deducible Options for Business Vehicle Usage
If you’re an employer whose business relies on frequent vehicle usage, then you’re probably considering the options available to expense your business transportation. The best option is not always black-and-white, and often depends on the amount of time your employees spend driving, the size of your company, and other tax considerations. You have four main options for handling business transportation: …
Paycheck Protection Program: Best Practices for Maximizing Your Loan Forgiveness
One of the tenants of the Coronavirus Aid, Relief, and Economic Security Act (Cares ACT) is the Paycheck Protection Program (PPP), which initially authorized up to $349 billion of federally-guaranteed loans to qualifying small businesses. The funds are meant to be used for the following qualified expenses according to the CARES Act and SBA guidance: Payroll costs (up to $100k/yr …
How Blockchain is Changing CPG Supply Chain Management
Trying to keep up with the explosion of tech buzzwords (and their alphabet soup of acronyms) is becoming increasingly difficult. Every day, we hear about a new tech set to “disrupt” the supply chain space in profound and spectacular ways — IoT, machine learning, neural networks, 3d printing, robotics, AI, VR… the list goes on. Finding ways to leverage this …
How a Publishing House Employee Became an Editorial Entrepreneur
Whether it is helping an author develop their voice, editing a manuscript, or turning a writer into a published author, it’s safe to say that Lauren Taylor Shute has done it all. I have been fortunate enough to know Lauren for about five years and have followed her journey from a fresh-out-of-college junior editor at a large publishing house in …
How To Structure Your Seed Round Financing
We break down the differences between convertible notes, SAFEs and KISSes What is a convertible note? A convertible note is a short-term debt vehicle that startup companies often use to raise funds before their first institutional round of fundraising. These notes carries an interest rate and a maturity date and allow the investor to convert (hence the name) the note …
If You’re An Amazon FBA Seller, You Might Be Incurring An Unknown Sales Tax Liability
Amazon can move your inventory at will, and this could dramatically influence the states where you have a sales tax nexus and owe money. How To Determine If You Owe Sales Tax In A Specific State In general, you owe sales tax the states where you have a physical presence, receive benefits, or conduct business in. This would include your …
How The Heck Do I Reconcile My Amazon Sales Data?!
With the help of Entriwise and our guide below, you’ll be able integrate your sales data in Quickbooks accurately and efficiently. One of the first things you learn in accounting is that you need to reconcile your checking and credit card accounts to ensure that the transactions that make up your financial statements are accurate and up-to-date. This process involved matching the …
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