Learn more about tax penalty protection.īundle may include (1) a QuickBooks Online subscription and/or (2) a QuickBooks Live Bookkeeping plan and/or (3) QuickBooks Online Payroll, at your option. Additional conditions and restrictions apply. Intuit cannot help resolve notices for customers in Collections with the IRS because IRS Collections will only work with businesses directly. If you receive a tax notice and send it to us within 15 days of the tax notice, we will cover the payroll tax penalty, up to $25,000. Tax penalty protection: Only QuickBooks Online Payroll Elite users are eligible to receive the tax penalty protection. Live Bookkeepers aren’t responsible for errors resulting from incorrect information that you provide, or if you re-open the books by overriding closure after a Live Bookkeeper completes the month-end closure. You’ll need to provide QuickBooks with a receipt for the transaction in question, correspondence from your outside tax accountant, or a document stating the balance of the account if an account balance is in question. If you invoke the guarantee, QuickBooks will conduct a full n evaluation of the Live Bookkeeper’s work. An “error” is: a) a transaction that has been incorrectly categorized to the wrong account b) an account balance in QuickBooks that doesn’t match the actual account balance or c) improper transactions which can’t be supported by documentation (including client responses and client meeting notes). If your Live Bookkeeper makes an error that requires you to re-open your books for any month, we’ll correct the error in your books for the month that the error occurred at no additional charge.Įligible errors include only those made by a Live Bookkeeper. Īccurate Books Guarantee: Accurate Books Guarantee is only available for active customers of QuickBooks Live Monthly Bookkeeping who have provided their current business tax return. For more information about Intuit Payments' money transmission licenses, please visit. Like Etsy QB Self-employed, we automatically import all your fees and sales and categorise them for you to make it super easy come tax time.Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services. Your Annual Schedule C filing needs detailed inventory valuation information in order to complete it accurately to satisfy IRS requirements so unless you upgrade to the more expensive and complicated Manufacturing version of their accounting package then you'll need to find another way of tracking your manufacturing and inventory costs on top of paying for Quickbooks Self Employed.Ĭraftybase contains all of the features you need in one tidy, cost effective package. Whilst simple cashflow systems like Quickbooks Self Employed can be helpful to see your incomings and outgoings, it's not so useful at tax time for a handmade business. For one thing, we focus on inventory tracking: this is one of the most important things a small manufacturing business needs to be on top of and is often the most neglected and poorly managed. Crafters are manufacturers, and manufacturers need a complete different set of features for their bookkeeping needs - income and expense tracking unfortunately just isn't enough.Ĭraftybase has been working with thousands of Etsy sellers just like you over the last 8 years creating and refining the perfect set of features that handmade sellers need in a bookkeeping system. Quickbooks Self Employed can be a handy piece of software for small businesses, but it's just not designed with the unique needs of Etsy sellers in mind. Why Quickbooks Self Employed may not be the best option for your Etsy store…
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