Just because you don’t pay sales tax doesn’t mean that you aren’t responsible for paying it. Let’s define “use tax”.
Top 9 Interior Design Trends For 2021
Trends constantly change, and it includes even the simplest interior design styles. Incorporating some of the current interior design ideas is the quickest method to improve your home’s décor.
A 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%!
Top 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.
Selling 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.
Melio: Making Life (and Vendor Payments) Better for Designers
Melio, “The Simplest Way to Pay Vendors & Contractors” connects seamlessly with QBO to make vendor payments seamless.
Our 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.
Didn’t qualify for PPP? Here’s a List of Other Loan Options for Designers
If you did better in 2020 but could really benefit from additional resources, here is a list of loans that do not require reduced income.
10 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.
Better 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.
Our Favorite Software for 2021
We have compiled a list of our favorite software for 2021, so you can start the year set-up for success!
Webinar: Strategic Planning for Financial Success
Our very own Marissa McKinney and Emilie Naderzad speak with with Reisa Elden of Houzz to discuss strategic financial planning during the pandemic.
QuickBooks 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).
How a Bookkeeper Can Increase Your Design Firm’s Bottom Line
The main reason a business should hire a bookkeeper is to produce accurate key figures needed to make better financial decisions and ultimately increase the design firm’s bottom line.
How 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.
Designer Feature of The Month: Byrdesign
This month we are excited to introduce one of our beloved designers and showcase a project she recently completed on an old 20th century home. Meet Beatriz of Byrdesign!
CDTFA Publication for Interior Designers
California Department of Tax and Fee Administration (CDTFA) documentation on sales and use tax regulations for interior designers and decorators.
How Recent PPP Updates Affect Designers
For designers that received assistance through the Paycheck Protection Program (PPP), we have the latest information regarding the Paycheck Protection Program Flexibility Act (PPPFA).
SBA Disaster Relief: Quick Guide for Designers
The Small Business Administration (SBA) is offering Economic Injury Disaster Loans (EIDL) of up to $2 million and immediate relief in the form of EIDL loan advances of up to $10,000.
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…
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Our Pro-tips for a Smooth 1099 Filling
With the IRS’s 1099 deadline behind us, here is what you should be doing to ensure filling goes smoothly next year.
Hey California! How do you know when shipping is considered taxable?
Not certain when to tax shipping charges? Our accountants lay down the basics for shipping and when to charge to tax!
Sales & Use Tax Rates Effective: April 1, 2019
Effective April 1st, 2019, select New Sales and Use Tax Rates in CA will increase. We advise checking the cities and county where your projects are located and check if that area’s sales tax has changed.
New District Use Tax Collection Requirements for All Retailers
Requirements for certain out-of-state retailers. The new use tax collection requirement is not retroactive and applies only to sales made on and after April 1, 2019.
Ivy Updates for Our Busy Designers
Our team of accountants created a simplified list of Ivy’s updates for our busy designers. Read below for our quick list.
Ivy Payment Processing
Table of Contents How Ivy Payment Processing Works: Common Q&AI have a client who is concerned with the security of paying online. What do I tell them?Can my client pay…
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Managing Last Minute Tax Savings For 2018
Are you closing out 2018 and realizing that your taxes are still too high? It’s not too late! There is still time to make a few last-minute moves to lower that tax bill.
How Ivy’s Calendar Will Prepare You for What’s to Come This Year
Are you using Ivy’s Calendar? If you have Ivy but aren’t using their calendar feature, here are a few reasons why you should be.
Year End Wrap-Up for Taxes
As the tax year comes to an end, it is imperative to have all financial statements updated and accurate for IRS filings.
Interior Design Trends Going Away & Here to Stay in 2019
Whether you are renovating your home, buying a new one or simply redecorating a room, here is everything you need to know from the designers who set the trends.