Author: beachwood

Do you know what the CDTFA is? If you don't and you sell products in CA, you better learn fast! The CDTFA stand for the California Department of Tax and Fee Administration and they are the tax authority that your report and send sales tax payment to. Registering with the…

According to one recent study, plant-based foods are now available in about 53% of households in the United States.Roughly 35% of Americans say that they've consumed some type of plant-based food in the last year, and of that number, 90% say that would happily do so in the future. All…

1) The US recession actually lasted only two months. While difficult times for many individuals and small businesses lasted much longer (and for some are still continuing), “the U.S. recession touched off by the coronavirus lasted only two months, ending with a low point reached in April 2020 after the…

Human beings are visual learners – they always have been, and they always will be. A big part of this has to do with the way that the human brain works. According to one recent study, when people hear information, they generally only remember about 10% of what they're exposed to.…

This is a common question: How long must taxpayers keep copies of their income tax returns and supporting documents? Generally, individuals should hold on to their income tax records for at least 3 years after the due date of the return to which those records apply. However, if the original…

Accounting for Restaurants: A Guide to Setting Your Business up for Success Operating a restaurant is a dream for many, but there’s a lot more to it than meets the eye. There are far more restaurants and food-related businesses that fail than succeed, and that’s frequently because entrepreneurs spend more…

Some Small Businesses Are Recovering. Is Yours? The COVID-19 pandemic isn’t over, but many small businesses are on the upswing. How QuickBooks Online can help if yours isn’t.Intuit recently did a survey documenting the financial losses that many small businesses had experienced since March 2020. Not surprisingly, the report, Intuit QuickBooks…

If you recall, the Tax Cuts and Jobs Act (TCJA), effective beginning in 2018, eliminated the business-related deduction for entertainment, amusement or recreation expenses. However, it did retain a deduction for business meals when the expense is ordinary and necessary for carrying on the trade or business and is not…

This helpful tip could save you from over paying sales taxes THE PROBLEM:With the rise of online platforms such as Etsy, paypal, and Amazon, it's easier now more than ever to sell your product to a wide audience!  You supply the product, and Etsy markets, sells, collects payment, takes a…

Make sure you’re company is in compliance in filing all necessary forms for 2020. They are: IRS form 1099 - for all your independent contractors IRS form W-2 - for your employees Any other payments such as rents, interest expense, etc. that would require a form 1099 What forms are…