Form 1099-K Requirements 2022: A Complete Guide

Form 1099-K Requirements 2022

If you are an eCommerce business, you must read this article to know: What is Form 1099-K and Why is it Important for an eCommerce Business? Who Is Required to File Form 1099-K? What Are The Form 1099-K Requirements 2022? Merchants selling products and services online undertake payment transactions through a number of methods. Few … Read more

What Is Cost of Goods Sold – COGS? (All You Need To Know)

Cost Of Goods Sold Explained

Cost of Goods Sold (COGS) is an accounting term that refers to the cost incurred by a company when goods are sold. In other words, cogs will show you how much it costs your company for every product that goes out the door. As a startup founder, you’ll run into this term as you’re trying … Read more

5 Main Reasons: E-Commerce Accounting is Difficult

main reason why accounting is difficult

Most people aren’t aware of the challenges that come with e-commerce accounting. It’s a fairly new concept, and not many accountants are familiar with it. This post will go over 5 reasons why e-commerce accounting can be challenging, as well as how you can reduce or eliminate each one so you don’t have to worry … Read more

US Sales Tax in eCommerce: What You Need to Understand in General

Sales Tax in the US, like most of the countries may be complicated. The fact that the country has 50 states, computing sales tax seems no easy feat. It is also subject to more often than not changes especially that globally, we are facing the pandemic.  Sales tax is a consumption tax imposed by the … Read more

Business Entity: an Easy Guide for United States’ Different Business Types

A Business entity is the type of business registration that you will apply to your business. This will determine selective treatments of transactions, your business decisions and your tax liabilities.  Liabilities (and savings) should be a business owner’s decision-making factor when it comes to considering a business entity type, not just the easiest and ,most … Read more