When Uncle Sam Pays You Back: Tax Refund Statistics for 2015

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For some of you, your tax season headache is over for 2014. For those who have received a refund or are expecting one, Uncle Sam is rewarding you for your hard work and dedication.

Did you think about what you are going to do with your refund? Are you planning to splurge and take a fancy vacation or simply play it safe by saving and investing?

We’ve put together an infographic of the tax refund statistics of 2015. This infographic covers the total number of refunds issued this year, what Americans plan to do with their refunds and suggests some of the best and worst ways to spend your refund.

Take a look and let us know how you plan to spend your refund. We’d love to hear from you! Read more

Perils of Filing Your Taxes Online and How to Avoid Them

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Tax season is here! As if gathering all the documents and filling out tax forms isn’t enough to give you a headache, you’ll also need to watch out for those pesky cyber criminals while filing your taxes online.

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The IRS reported that there was a steady increase in the total number of tax returns that were e-filed over the past few years. Last year, more than 117 million tax returns were e-filed. As the trend of filing taxes online continues to increase among taxpayers, cyber criminals look for lucrative and sophisticated ways to trap them and make more money.

The good news is that, even though there are some risks associated with filing your taxes online, there are ways to minimize them. Read on to learn more about some of the dangers and tips to reduce them.
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5 Ways to Deal with Your Small Business Debt

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Do you spend sleepless nights worrying about your business debt? If you do, then you’re not alone. Recently, Gallup, a research-based global performance management consulting company, conducted a survey and found that 49% of small business owners find it extremely difficult to manage their current debt. The fact is, handling debt can be one of the most difficult challenges a small business owner can face.
 5 ways to deal with debt

When things get really tough and there’s no way out, historically, many ailing businesses declared bankruptcy. But, new laws have made it more difficult to simply declare bankruptcy to get out from under piles of debt. Furthermore, bankruptcy is no easy way out, as it comes at a high price. Typically, a bankruptcy filing costs thousands of dollars in court and attorney fees. Even worse, your credit scores, not to mention your business reputation, will take a severe hit, making it nearly impossible to regain business stability.

Fortunately, there are ways to avert this type of financial disaster. Here are a few helpful tips to control your debt before it controls you.
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3 Ways “User Roles” can save you a lot of trouble

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When Roger had his living room remodeled, he handed the key to his house to the crew after locking all other rooms because he didn’t want them snooping around.

Now, think why you should grant all your staff access to your accounting software in its entirety, when you only want them to handle a part of it.

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It’s not possible for a single person to perform all the functions concerned with business like setting budgets, accounting, well, at least not efficiently. It’s key that these functions are delegated to bookkeepers, accountants, sales staff, and contract workers and performed independently by all members of the staff.

The problem with giving them all unrestricted access is that there is every chance that your financial data is under risk. And there lies an impasse! Limiting access too much could make it hard for your staff to do their tasks efficiently.

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Ride on Cupid’s popularity to give your business a boost

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When it comes to the annual gift splurge, Valentine’s Day is just shy of Christmas. And technically it’s not even a holiday! According to the National Retail Federation, this Valentine’s Day will bring in an estimated revenue of $19 billion for businesses. With wallets wide open this season, it’s time to saddle up and make the most of this romantic season.

Give these tips a shot and let the V-Day buzz do the rest to up your game this festive season.

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Discounts are dandy but you can’t bank on them

If you are are going to compete with Walmart and Target, and offering discounts on a box of candies is your only strategy, you are destined to fail! Find ways to lead your promotion with that flagship product/service of yours. Read more

Zoho Books says Hello to the UK

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When we say Zoho Books is truly built for UK businesses, we aren’t kiddin’, mate!

We’re not talking mere language here. We know you favour your ’S’ over your ‘Z’, and you’ll rather organise than be organized. We’re talking about full-blown accounting software that truly understands the accounting needs of small businesses in the United Kingdom and helps business owners file their VAT returns with ease. Our UK customers can now sign up and experience the many benefits and customisations of Zoho Books UK Edition.

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While the rules of credit and debit are the same worldwide, it’s the tax laws, regulatory requirements and government policies that vary across countries. The UK edition of Zoho Books is a time-saver for business owners who previously had to rely on tedious and error-prone manual work to access and report VAT and reclaim it from HMRC. Read more

Go Paperless with Zoho Books and Entryless

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Sifting through hundreds of emails in your inbox to find due bills is downright painful. More tedious is to have to manually type all that bill information back into your accounting system. Automating accounts payable processes has been the prerogative of larger businesses. Not any more. If you’re a small business dealing with more than 50 bills a month, it’s time you consider an effortless way to streamline your AP tasks.

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Entryless, a leading accounts payable service, is now integrated with Zoho Books. Your suppliers can now email bills in any format—PDFPNGJPEG or even paper—to a personalized email address, hosted by Entryless. They will get automatically processed, categorized, and synced into your Zoho Books account, upon your approvals.

So how does this integration benefit your business? Read more