How To Save Money By Recording Your Blog Expenses

How to Save Money By Recording Your Blog Expenses

It has taken a lot of hard work, but you are finally earning income from your blog. That’s the good news. The not so good news is that you need to report your income to the IRS. This post will help explain how you can save money by recording and deducting eligible blog expenses. 

Many people feel overwhelmed by the bookkeeping and accounting aspects of their blog business. But let’s break it down so you know what you need to be doing to track your income and expenses.

Disclaimer: This post is for information purposes only and does not constitute tax or legal advice. This post contains affiliate links, see my Disclosures here.

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Select the Ideal Start Date for your QuickBooks Bookkeeping

Select the Ideal Start Date for your QuickBooks Bookkeeping

When setting up your small business bookkeeping for the first time, you must select a start date, the date on which you begin to bring your business financial transactions into your bookkeeping program. Many factors go into selecting the ideal start date for your small business bookkeeping. In our discussion we'll be assuming you are using QuickBooks Online Simple Start, which is my recommended bookkeeping program. Keep in mind that establishing separate financial accounts for your business, is a crucial first step before using a bookkeeping program.

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My Completely Honest Review of the 2019 Ultimate Productivity Bundle

Is the 2019 Ultimate Productivity Bundle right for you? Read my honest review!

Productivity is a word we throw around a lot! But can a few resources actually help you become more productive? The 2019 Ultimate Productivity Bundle is promising just that. I bought the bundle myself so that I can help you answer, is the 2019 Ultimate Productivity Bundle right for you? Is it worth buying?

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Should I Collect Sales Tax From Other States? – Internet Sales Tax & Economic Nexus

Sales tax has changed a lot in recent months! Learn all about the new economic nexus laws for sales tax and whether you need to collect and remit sales tax to more than just your state. The internet sales tax explained and help for how to comply easily! | SmallBusinessSarah.com

South Dakota vs. Wayfair has radically changed sales tax. If you are a small business owner of any type, you now need to consider, should I collect sales tax from other states? This question used to be easy to answer, now, not so much. Let’s take a look at what has changed in the world of sales tax and what you need to do about it as a small business owner.

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101 Tax Deductions for Etsy Sellers

There are so many tax deductions you can take as an Etsy seller! Don't miss a single one! | www.SmallBusinessSarah.com

There are at least 101 tax deductions for Etsy sellers! Don’t miss out on a single tax deduction for your Etsy shop business. Whether you sell handmade products, craft supplies, or vintage lovelies, we have got you covered! Here are 101 tax deductions to get you started!

 

This post contains affiliate links, see my disclosure here.

This post is meant for general informational purposes only, and should not be taken as legal, tax, or accounting advice.

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How to Get a Business Mileage Tax Deduction

How to get a business mileage tax deduction

It’s quite easy to claim a business mileage tax deduction on your small business tax return. Whether you are an Etsy Seller, a blogger, a virtual assistant, or any number of things, most likely you are using your car on occasion for business purposes. That is your signal to calculate your business mileage tax deduction! Let me show you how.

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Best Accounting Software for Etsy Sellers

Discover the best accounting software to use if you are an Etsy seller. I review and analyze three different accounting programs to find the best for Etsy Sellers.

When Etsy announced a partnership with QuickBooks to provide QuickBooks for Etsy, I knew I had to check it out. As an accountant, I am very picky about my accounting software. As an Etsy Seller, I want quick and easy financial data. This was the perfect opportunity to test and find the best accounting software for Etsy sellers.

QuickBooks for Etsy uses a version of QuickBooks called QuickBooks Self-Employed. I have been using a different version of QuickBooks, QuickBooks Simple Start, for many years. Keep in mind that QuickBooks Self Employed is a completely different type of program than QuickBooks Simple Start. Same company, completely different program. In this article, I will discuss both QuickBooks Self-Employed and QuickBooks Simple Start. In addition, I had also heard many Etsy sellers rave about Go Daddy Bookkeeping for Etsy sellers. This seemed like a perfect opportunity to test and compare all three programs. Here is what I found.

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How to Find Sales Tax Collected on Etsy

Etsy recently changed the shop payment account. Now where do you find the amount of sales tax you have collected from your Etsy sales? Let me show you! | SmallBusinessSarah.com

With the recent changes to the shop payment account on Etsy, I fully expected to find the amount of sales tax collected (and therefore sales tax payable) right on one of their new pretty charts. A pretty important number to bookkeeping success! When I could not find sales tax information anywhere in the new shop payment account, I have to admit, I was worried! Luckily, I found the old trusty CSV files I have always used, just not where I expected to find them!

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New Etsy Payment Account: How to Record Etsy Shop Revenue and Transaction Fees

Etsy has updated and changed the payment account. In light of this change, the bookkeeping for your Etsy shop will need to change slightly. Learn how to record your Etsy shop revenues and Etsy shop transaction fees quickly and easily in QuickBooks Simple Start. | SmallBusinessSarah.com

Etsy has been talking about this for a while, and finally, in November 2018 Etsy has created a new Etsy payment account and eliminated the separate Etsy bill. Now all Etsy fees will be deducted from Etsy sales before the remaining money is deposited into your bank account. In light of these changes, the process for recording Etsy deposits and Etsy fees in QuickBooks Simple Start has changed. Let me show you exactly what to do now.

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Simple Strategies to Save your Business Money

Increase your business profits when you cut costs and save money. This simple cost-cutting checklist will help you makeover your small business spending!

There are two ways to increase your business profits. Create additional revenue or reduce your spending.

Granted, increasing your revenue is the much flashier, and therefore the most talked about method for increasing your business profits. However, you are just shooting yourself in the foot if you never consider ways to curb your business spending and save some money!

Believe me, I have witnessed first-hand businesses that are killing it in sales and drowning in expenses. Don’t let that be you!

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