Choosing between cash-basis and accrual-basis accounting can feel like a technical decision reserved for accountants. In reality, your accounting method affects how you view profitability, when income and expenses appear in your books, what your QuickBooks Online reports show, and, within certain limits, when you report income for tax purposes. The right method depends on your business model, size, inventory, reporting needs, and tax situation. This guide explains the differe

Hiring your first employee is an exciting milestone. It can also feel like a big administrative leap. Until now, you may have managed your business finances yourself. Adding a W-2 employee means taking on payroll, employment taxes, insurance, wage-and-hour rules, and additional recordkeeping. The good news is that you do not have to figure everything out at once. With the right checklist, you can complete the major setup steps before your employee’s first day and avoid many c

If you are self-employed, your retirement plan may be more than a way to save for the future. It may also be a valuable part of your 2026 tax strategy. A Solo 401(k) or SEP-IRA can allow eligible business owners to contribute money on a tax-advantaged basis. Traditional contributions may reduce taxable income for 2026, potentially lowering the amount of federal income tax you owe. However, the plans work differently. The contribution limits, deadlines, Roth options, and deduc