Starting out as a freelancer? Get an EIN, ASAP
When you work as a freelancer, employers who are on top of their accounting game will always ask you for a signed W-9 form before they pay you the first time. Most freelancers just use their Social Security number as their tax ID number on the W-9. This is a big mistake, unless you really, really trust the company you’re working for.
Why Xero is great for startups
Last night, I had the privilege of joining the Xero team at Santa Monica New Tech, a group of entrepreneurs who get together to showcase new technology and network. I spoke a bit about what make’s Xero a great fit for U.S. startups looking for an accounting software solution. Here’s what I had to say.
How to upgrade your Shopify site to use Reponsive Checkout
Shopify has released Responsive Checkout, which means that checkout pages are now optimized for mobile, and also scale up to look great on tablets and desktops. There's no need for a separate mobile site.
Why you should pay your employees every week
If you're a business owner setting up payroll, you might be wondering, "How often should I pay my employees"? Twice a month and every two weeks are the most common. Just about everyone has worked a job where he or she got paid every other week. But that's not a good reason to stick with it. If given the choice, you should always choose every week. Here's why...
Best and worst states for business taxes in 2015
The Tax Foundation is out with its annual assessment of business tax systems in the United States.
Harvard, MIT and $100,000 in Free Consulting
This past summer, Cloudsourced Accounting was lucky to be chosen as the client of the annual Harvard vs. MIT Case Competition. I wrote an article about it, and CPA Practice Advisor has just posted it on their site.
![Xero + QBO share just 2% market penetration in U.S. accounting software [chart]](https://images.squarespace-cdn.com/content/v1/5437534fe4b063c91fba5659/1413251404208-SE5IJABBENIXQBIHWWOX/image-asset.png)
Xero + QBO share just 2% market penetration in U.S. accounting software [chart]
Xero and QBO together have a market penetration of close to 2%. That's in a total market of 29 million small businesses in the United States. The market penetration is less than 12% if you only count businesses already using desktop software.
Shoeboxed ends integration with FreshBooks
Shoeboxed announced today via email that it is no longer integrating with FreshBooks due to "an irreparable problem between the two services."
Xero bug causes incorrect values in Executive Summary report
I recently discovered that Xero is displaying incorrect values for three key ratios in the Executive Summary report. The issue does not appear to be affecting all Xero accounts. To be safe, I recommend that all Xero advisors double-check the ratios in the Executive Summary report by exporting to Excel first before publishing PDF reports.