Bookkeeping - XOATAX Site3

What is Bookkeeping? The Basics for Business Success

Bookkeeping, AccountingSeptember 25, 20234Comments

Understanding Bookkeeping: The Backbone of Financial Management Bookkeeping is essential for any business, providing a clear and organized method for recording financial transactions. At its core, it’s all about documenting the flow of money in and out of your business. These transactions are meticulously recorded following the company’s specific accounting guidelines and backed by actual…

Shareholder Loans: A Comprehensive Guide to Tax Implications and Best Practices

Accounting, Bookkeeping, Business TaxJuly 16, 20230Comments

Understand the tax advantages and potential pitfalls of shareholder loans for your small business with this comprehensive guide covering types, uses, IRS regulations, and strategic tax planning.

Bookkeeping for Small Business: Why It Matters (and How to Get it Right!)

Bookkeeping, AccountingJuly 7, 20230Comments

Starting a small business is an exciting adventure, but it can also feel like you're navigating uncharted territory. At XOA TAX, we often see small business owners get so caught up in the day-to-day that they overlook a crucial aspect of success: bookkeeping. Now, we know what you might be thinking – 'Bookkeeping? Sounds complicated…

10 Essential Deductions for Amazon FBA Sellers in 2024

Bookkeeping, Amazon SellerJune 18, 20230Comments

Keep accurate records of expenses to maximize tax deductions for Amazon FBA sellers.

Restaurant Operations Management: A CPA’s Guide to Success

Restaurants, Accounting, Bookkeeping, Running A BusinessJune 8, 20230Comments

This comprehensive guide from a CPA at XOA TAX provides expert insights into restaurant operations management, covering crucial financial aspects, tax implications, and strategies for success.

Is Revenue a Debit or Credit? Unraveling the Mystery of Accounting Basics

BookkeepingMay 31, 20230Comments

Revenue is a credit, increasing profits and shareholder equity.

Outsourced Bookkeeping: A Smart Move for Your Small Business (and Your Sanity!)

BookkeepingMay 29, 20234Comments

Overwhelmed by bookkeeping? Outsourcing frees up your time and reduces stress, letting you focus on growing your small business while experts handle your finances accurately and efficiently.

Shopify Accounting: A Comprehensive Guide for E-commerce Success

Business Tax, Accounting, BookkeepingMay 27, 20230Comments

This comprehensive guide simplifies Shopify accounting, covering everything from sales tax compliance and inventory management to navigating multi-channel sales and modern e-commerce challenges.

The Definitive Guide to Amazon Bookkeeping in 2024

Bookkeeping, Accounting, Amazon SellerMay 26, 20230Comments

Running an Amazon business? Congratulations! You're part of an exciting and rapidly growing marketplace. But with the thrill of sales and the challenge of competition comes a less glamorous reality: bookkeeping. Even seasoned entrepreneurs find Amazon bookkeeping complex. From managing inventory and tracking those tricky Cost of Goods Sold (COGS) to staying on top of…