Archive for November 2023
How Accrual Accounting Works for Interior Designers
Designers always ask us to explain accrual accounting and how it pertains to the interior design industry. Good news is that our CEO, Marissa Jones explains the difference between accrual and cash-based accounting in the attached article for Ivy Magazine. Our simple answer, accrual basis shows income when an invoice is generated while cash accounting…
Read MoreHow 1099 Filings Are Changing This Year & How It Affects Interior Designers
There are some changes being made through the IRS regarding 1099 (1099-NEC and 1099-MISC) that are effective for 2020’s filing.
Read MoreQuickBooks Online Accounting with Ivy/Houzz Pro for Interior Designers
Interior design is a unique challenge, especially when it comes to accounting, but the geniuses behind Ivy/Houzz Pro have figured it out, and the best part is that it integrates with QuickBooks® Online (QBO).
Read More10 Financial Questions Designers Should Be Asking Themselves
To start the conversation and head into 2021 with a strong outlook and trajectory for your interior design business, here are some questions for you to ask yourself.
Read MoreBetter Bookkeeping for Interior Designers
Our very own Marissa Jones explains how designers can practice better bookkeeping. You can find the full webinar below, but here is a quick guide if you are short on time.
Read MoreOur Accounting Workflow for Interior Designers
Here are our best practices when it comes to interior design payment and order tracking in order to stay on top of your game.
Read MoreSelling Outside Your State and Multi-State Sales Tax
Designers should always ask themselves, “Am I selling more than $50k worth of goods or services in a state in which I am not registered?” If you answered yes to this question, it might be time to look at nexus thresholds for that particular location and multi-state sales tax.
Read MoreA New Change in Tax Rules: Meal Deductions
Starting January 1st, 2021 through December 2022, designers can claim 100% of their meal expenses paid to restaurants. That’s right, 100%!
Read MoreTop 10 Tax Deductions for Interior Designers
With all the extra stress we’ve all been through last year because of the pandemic, we understand how frustrating taxes can be. Thanks to these 10 tax deductions, interior designers can save a lot of money in taxes.
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