Cash Basis Accounting for Small Businesses: A Complete Guide
This comprehensive guide explains cash basis accounting for small businesses, detailing its benefits, limitations, tax implications, and how it compares to accrual accounting, helping you choose the best method for your business.
Shareholder Loans: A Comprehensive Guide to Tax Implications and Best Practices
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.
YOY Growth: A Clearer Picture of Your Business Performance
At XOA TAX, we often find ourselves helping clients understand the story their financial data is telling. One of the most useful tools in our arsenal is Year-Over-Year (YOY) growth analysis. It’s like looking at your business’s performance through a magnifying glass, allowing you to spot trends and make informed decisions. Key Takeaways What is […]
Bookkeeping for Small Business: Why It Matters (and How to Get it Right!)
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 […]
Restaurant Operations Management: A CPA’s Guide to Success
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.
Restaurant Profit and Loss Statement: A Complete Guide
Running a restaurant is a thrilling but demanding endeavor. Between managing staff, keeping your menu fresh, and ensuring every customer has a memorable experience, it’s easy to get caught up in the day-to-day whirlwind. But amidst the controlled chaos, it’s crucial to keep a close eye on your financial health. That’s where your Profit and […]
Shopify Accounting: A Comprehensive Guide for E-commerce Success
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
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 […]
Accrual Accounting: A Clearer Picture of Your Business’s Finances in 2024
Hi everyone, It’s Hoang from XOA TAX, here to break down a core accounting principle that often causes confusion: accrual accounting. While the term might sound a bit technical, trust me, it’s not as complex as you might think. In fact, once you understand it, you’ll see how it can give you a much clearer […]
Best Restaurant Accounting Software in 2024: Top 8 Picks
As a restaurant owner, you know that delicious food is only part of the recipe for success. Keeping a close eye on your finances is just as important. That’s where choosing the right accounting software can make all the difference. Think of it as your secret ingredient for managing expenses, tracking inventory, and maximizing profits. […]
