Is there an EASY way for a small business of 1-3 people to save receipts? Yes! At ColvinCPA, we are constantly searching for apps and technology that can make life easier for our clients! If you use Xero accounting software, the simplest solution is called Xero Expenses. Xero Expenses costs an additional $30/month on top [...]
Sometimes it can be confusing on how to properly withdraw money from your business and record the transaction in Xero. Below are the top questions that I get asked on this topic. Let’s tackle them one at a time. First, what the heck is a “Sole Proprietor”? Per the IRS “A sole proprietor is someone [...]
The 2017 tax filing season is now over and many people are restocking the stash of chocolate in their homes (including the secret one hidden above the washing machine). You are not alone if you treat tax symptoms with creamy, sweet, heavenly chocolate. Tight shoulder muscles? Crunch on a dark and nutty chocolate chunk. Elevated [...]
It’s Friday night and you are on the way home after a great week running your own business. You stop by the store to pick up a few provisions to make it through the weekend (chips, beer, diapers, it depends on your situation). You rush to the teller and start fumbling through your wallet and [...]
