My Reseller Genie Blog
Reseller Resources and Tips for Success
How to File Taxes as a Reseller: How to Master the Schedule C Expense Worksheet
Navigating self-employment income can be challenging, especially when it comes to tax season. That’s where the Schedule C expense worksheet comes into play. This essential tool is your gateway to accurately reporting your business’s financials, ensuring that you’re not overpaying—or worse, underpaying—on your taxes. Mastering this form can significantly impact your tax filings. In this guide, we'll break down the must-know elements of the Schedule C worksheet, including how to handle returns and allowances, office expenses, and the cost of goods sold.
Why Mixing Business and Personal Finances is a Big Mistake: A Bookkeeper’s Perspective
As an experienced bookkeeper, I’ve seen firsthand the chaos that can ensue when resellers fail to separate their personal and business finances. One particular business owner, let’s call him John, had a thriving online reselling business but constantly mingled his business and personal expenses. The confusion not only complicated tax season for John but also hindered his ability to see the financial health of his business. He also ended up paying more business taxes because of this serious mistake.
In this blog post, I’ll walk you through why separating business and personal finances is crucial and provide practical steps to help you achieve financial clarity…
Ultimate Guide to Bookkeeping for Resellers
Are you ready to conquer the world of reselling? Don't let bookkeeping bring you down! We've got the ultimate guide to bookkeeping for resellers right here, ready to be your friendly companion on this journey. We'll delve into the intricacies of numbers and turn them into an exciting adventure, just like hunting for that next big item to resell.