Why You Should Open A Business Savings Account For Your Business

Person depositing cash into a piggy bank on a desk with coins and financial documents, illustrating the importance of saving for taxes in small businesses.

Should I have a business savings account for my small business? Yes! Here are a few reasons why you should consider using a business savings account: 1.Save money for taxes. Instead of reacting to a tax bill, proactively save to pay your tax bill. There’s nothing worse than completing a full robust year of business […]

How to Track Subcontractor Expenses and Submit 1099 Forms

W-9 form for taxpayer identification with a pen, highlighting nonemployee compensation and tax preparation context for small businesses.

As tax season approaches, businesses using subcontractors need to ensure they are tracking payments and preparing 1099 forms correctly. With QuickBooks Online, small business owners have a powerful tool to make this process easy. In this post, we’ll share expert tips on collecting W9 forms, recording expenses, separating reimbursements, and reviewing reports to make tax […]

5 New Year Financial Planning Tips for Your Small Business

Close-up of a calendar page for January with a red pencil marking the first day, emphasizing planning for the new year and financial organization for small businesses.

Cheers to the new year! As another year comes to a close, there’s hope on the horizon for what the new year has to bring. Regardless of your small business’s industry, services, or processes, it’s essential to create a plan for your business’s financial success. At the beginning of the new year, we recommend these […]