Ecommerce business growth is accelerating at an unprecedented rate. Whether you're new to ecommerce or have been operating one for some time, you need to know how ecommerce accounting works to manage your finances effectively ..read more

Dealing with multiple taxes can be a challenge for any business. Suppose you have a shop in one state and sell to another - now you're dealing with two sets of tax rules! Multistate taxation is not just about where your shop is but also where you do business. And it's more than just paying up - it's about pledging the right amount to the right state at the right time ..read more

When you're just starting out as a small business owner in San Diego, there are many things you need to consider, including taxes. Navigating the complex world of taxes can be  daunting, especially since tax laws are subject to change and always evolving. Understanding what obligations you need to fulfill can make the process much easier. In this blog, we'll explore everything you need to know about your tax requirements as a small business owner, so keep on reading ..read more

The past two years have been a rollercoaster for small business owners working to keep the doors open. First, an international pandemic turned the world upside down for business operations. Then, added frustrations with employee shortages, wholesale price increases, supply deficiencies, recession impacts, venture capital stalemates, and small businesses struggling to survive and thrive in a new norm ..read more

If you are like most e-commerce business owners, you would rather develop or source products, establish relationships, or explore new markets than work on your accounting ..read more

The following are some of the key takeaways and strategies we have been discussing lately with our clients to help them during this tumultuous time ..read more

1. We understand your business The number 1 reason to choose Profitwise Accounting is our commitment to understanding your business. We firmly believe that this is a critical first step in helping you achieve your goals. At the beginning of every new client relationship we take the time to truly understand your business operations, your business vision, your exit strategy, and your personal financial goals ..read more

It’s no longer breaking news, but we’re still getting a lot of questions about what to do as an Amazon FBA seller regarding sales tax in light of the recent changes in Washington. So in order to provide the most accurate response possible, we looked at what Amazon is saying about the issue along with TaxJar, and additionally called the State directly to get their explanation. We’ve summarized that info here so that you can get up to date on the laws and how they affect you. Also, starting April 1, 2018, Amazon and Etsy are collecting and remitting sales tax in Pennsylvania. From what we’ve se ..read more

For most small business owners, creating and reviewing your financial statements is not at the top of the “things I enjoy most about running my own business” list. Regardless, financial statements can be powerful tools and are worth the time and effort needed to gain an understanding of them. These statements serve as great tools which provide useful insights on the potential value of new business ventures, and guide your small business’s path. Financial statements are routinely used by decision makers such as investors, creditors and government agencies, and thus can have a big impact on you ..read more

Many companies that are just getting started, whether they are investor funded or bootstrapping it, might not recognize the various accounting needs that a startup has. We specialize in the tax and business consultation of new companies. Our accountants have worked with many small business startups with varied needs and we’ve seen most of the of the pitfalls that new companies fall into. Working with a small business accounting firm like Profitwise Accounting, regardless of your size, is always a good idea. We love working for startups, helping them with the various financial challenges inher ..read more