Financial Aspects of Multichannel eCommerce
E-commerce brands face the formidable challenge of not just surviving, but thriving across multiple sales channels. Today, consumers expect seamless shopping experiences, whether they’re browsing on a mobile app, scrolling through a social media feed, or walking through the doors of a brick-and-mortar store. For businesses, this means adopting a multichannel approach isn’t just beneficial—it’s […]
Decoding Business Entities: Myths, Facts, and Finding Your Fit
Whether it’s the story of a budding entrepreneur whose oversight led to unexpected liabilities, or the tale of a visionary who maximized their potential by choosing the right entity, the journey of creating and sustaining a business is fraught with pivotal decisions. This post is your compass through the complex terrain of business entities. From […]
10 Key Financial Metrics Every Successful eCommerce Seller Should Track
“Before building my first 8 figure brand I destroyed 2 companies because of poor cash flow management.” This was a quote from a seller we met at a recent event. Cash flow is important, and so are these 10 essential financial metrics that every successful eCommerce seller should track. Consider hiring a firm to manage […]
Navigating the Tax Maze: Strategic Tax Planning for Ecommerce Powerhouses
Imagine keeping a significant portion of your hard-earned revenue instead of watching it vanish into the tax black hole. For ecommerce entrepreneurs, seeing a substantial part of your profits disappear to taxes can be disheartening, especially when you’ve poured your heart, soul, and countless hours into building your business. But what if there was a […]
Demystifying US Tax Obligations for Foreign eCommerce Sellers
Navigating the complexities of US tax laws can be daunting for foreign eCommerce sellers. With businesses crossing borders more easily thanks to the internet, understanding the tax implications in the US has never been more crucial. Unfortunately, a myriad of misconceptions surround this topic, often leading to confusion and, in some cases, non-compliance with US […]
Ecommerce Financial Health Unlocked: Smart Cash Flow Strategies
A whopping 82% of businesses fail due to poor cash flow management. This is how crucial smart cash flow strategies are in business success, especially in ecommerce. If you have an online store, transactions are often conducted digitally and involve many stakeholders. Without a steady cash flow stream, it won’t be long until your business […]
Navigating Growth: When to Hire a Fractional CFO for Your eCommerce Business
In the dynamic landscape of eCommerce, scaling your business often comes with a multitude of financial challenges. As your revenue surpasses the million-dollar mark, strategic financial management becomes paramount. If you’re exploring the key indicators and scenarios that signal it’s time to consider hiring a Fractional CFO for your growing eCommerce venture, you’ve come to […]
A Beginner’s Guide to the Accrual Accounting Method
Accrual accounting is one of the foundational concepts in the field of accounting, playing a crucial role in how businesses record and manage their transactions. Unlike cash-basis accounting, which records transactions only upon the exchange of cash, accrual accounting recognizes financial events at the point of occurrence. The widespread adoption of accrual accounting is governed […]
Bookkeeping vs Accounting: Understanding the Different Roles
Being a business owner entails managing all facets of your enterprise, including its financial aspects. The assistance of professional bookkeepers and accountants can prove invaluable in simplifying financial procedures, ensuring compliance with financial regulations, and preventing monetary mishaps. Recognizing the distinct roles and responsibilities of these professionals is integral to acquiring the right expertise for […]
S Corps Explained: A Complete Guide on Formation, Taxation, and Best Practices
An S corporation is a pass-through entity for tax purposes. This implies that the income losses and credits aren’t made at the corporate level. Instead, these entities pass business income and losses to the shareholders, who report them on their income tax returns. S corp shareholders can be individual persons (e.g., self-employed), specific trusts and […]
