Bookkeeping and Payroll
-
Understanding Washington State Quarterly Payroll Taxes
In addition to the federal payroll taxes, being a business owner in WA State comes with some additional state-specific responsibilities. This page shares my knowledge about the WA State taxes, and summarizes the many conversations I’ve had explaining them to clients. A Note about Corporate Owners Generally speaking, corporate owners aren’t required to pay for…
-
Cash vs. Accrual Accounting: A Guide for Small Businesses
When running a small business, choosing the right accounting method is essential for tracking finances, preparing taxes, and making informed decisions. The two primary approaches are called Cash Basis accounting and Accrual Basis accounting, and the primarily difference between the two comes down to one word: timing. Cash accounting is straightforward: you record income when…
-
In-House Bookkeeper vs. Independent Contractor
If you’re a business owner who’s made the decision to hire a bookkeeper to help manage your financial records, the first question to ask yourself is if you should hire an in-house employee to fill that position, or if you should partner with an independent contractor. In the paragraphs that follow, I’ll give my two…
-
Why Should I Hire a Bookkeeper?
You probably got into your current line of work because it’s something you enjoy doing. But as a business owner, what happens when the administrative part of the business starts to interfere with your passion? Perhaps you’ve found yourself at the following crossroads a time or two. On one hand, you could do the work…