Sanjeev Kumar CPA

2026 Tax Changes Every US Business Owner Should Be Ready For
Taxation

2026 Tax Changes Every US Business Owner Should Be Ready For

2026 is called the ‘tax reset’ year. With certain TCJA provisions expiring, new federal tax rules coming into effect, and IRS reporting requirements shifting, businesses are going to face a complex April filing season this year. Understanding 2026 tax changes for businesses is essential, as with all the ongoing modifications, companies can no longer rely on last-minute tax preparation.  Get your books in order now, if you haven’t done so yet, and understand the key tax changes to save thousands of dollars in taxes. It will also set you up for smarter, financially strong 2026. Key Tax Changes Impacting Businesses This Filing Season 1. 100% Bonus Depreciation is Back, and Has Been Made Permanent Thanks to the One, Big, Beautiful Bill (OBBB), bonus depreciation has been permanently fixed to 100%. This means that any qualified asset purchased and placed in service after January 19, 2025, may now be fully eligible for this deductibility. So, if you have bought business equipment, software, or machinery last year, you can use this deduction to drastically reduce your taxable income. 2. QBI Deduction Has Been Made a Permanent Part of Pass-Through Entities One of the biggest 2026 tax law updates of US is that the 20% Qualified Business Income (QBI) deduction, also known as the Section 199A deduction, has been made a permanent part of the tax code for sole proprietors, partnerships, and S-Corps. However, the eligibility for the QBI deduction depend on your total taxable income and the type of business you have. So, if your taxable income is below a certain threshold ($197,300 for single filers; $394,600 for MFJ), you can take the full 20% deduction without limitations as per your business type or the amount of W-2 wages and qualified property. However, if your taxable income exceeds these thresholds, limitations may apply. So, make sure your 2025 income, wages, and business deductions are accurately tracked to maximize this benefit. For expert help, reach out to a qualified tax professional today. 3. Business Interest Deduction As per US business tax changes 2026, the rules for deducting business interest are now based on EBITDA rather than EBIT. This allows more interest to be deducted for businesses with loans or financing. If your company had debt in 2025, this could reduce your tax liability and improve cash flow, especially if you are  in a capital-intensive industry. 4. 1099-K Reporting Threshold Has Changed For small businesses and e-commerce sellers, the 1099-K reporting threshold has been permanently raised to $20,000 and 200 transactions per year for third-party settlement organizations (TPSOs). This reduces unnecessary reporting burdens and lowers the risk of IRS notices caused by over-reporting smaller payments. 5. Other Retroactive Changes Affecting 2025 Returns Some provisions of OBBB would apply retroactively, too and would affect the returns you file this April: All these retroactive changes mean your 2025 books must be accurately reconciled to avoid missing deductions or triggering audits. Important April 2026 Deadlines for Businesses Deadline Filing / Payment Jan 15, 2026 Q4 2025 Estimated Taxes Jan 31, 2026 W-2, W-3, 1099 filings Mar 16, 2026 Partnership (Form 1065) & S-Corp (Form 1120-S) due Apr 15, 2026 Individual & C-Corp tax returns due; Q1 2026 Estimated Tax Payment Tip: Filing extensions give more time to submit forms, not to pay taxes. Avoid last-minute penalties by planning payments ahead. What’s New This Tax Season? According to the IRS, below are some important new provisions and tax forms taxpayers and preparers should be aware of this season: 1. New Schedule 1-A A new IRS form, Schedule 1-A, has been introduced by the IRS to help taxpayers claim the recently introduced deductions. These include: This schedule must be attached to Form 1040 to report these newly allowable adjustments. 2. Trump Account Enrolment A new provision allows parents, guardians, or authorized individuals to establish a Trump Account 3. Form 1099-K This form has been reinstated with a higher reporting threshold (permanent rule). Form 1099-K can be used by e-commerce sellers, freelancers, and gig workers to accurately report business income received from: 4. Form 1099-DA — Digital Asset Transactions Form 1099-DA is used to report proceeds from digital asset transactions from brokers and other marketplaces. If you have digital asset sales or transactions in 2025, this form may apply. Strategic Tips for This Filing Season Here are some tips that can help you stay ahead of 2026 tax changes for businesses: Reconcile 2025 Accounts Now Make sure your books are accurate and up to date, with all income, expenses, and deductions properly registered. Any overlooked item could cost you deductions or create audit issues. Gather all income documents early Collect your W-2s, 1099s, and bank statements before you start. Missing even one form can delay your return or cause IRS notices later. Check your numbers against last year Compare income, deductions, and tax paid with last year’s return. Are there major changes? Have you missed out on something or reported it twice?  Track deductions carefully Keep receipts for business expenses, medical costs, charitable donations, and education expenses. Organized records mean fewer mistakes and bigger savings. Review your filing status Life changes like marriage, divorce, or a new child can change how you should file—and how much tax you owe or save. Connect with your tax advisor for expert support. Don’t forget credits Credits for children, education, energy upgrades, and health insurance can significantly reduce your tax bill. Make sure to take benefits of all available and applicable credits. File electronically and use direct deposit E-filing reduces errors and ensures quicker refunds. Similarly, direct deposit helps you get your money quickly and more securely. Plan how you’ll pay How much taxes do you owe? Can you pay in full? If not, use IRS’s payment plan options to spread out your payments and avoid penalties. Start Now—April Waits for No One. Remember, businesses that reconcile their books on time, maximize deductions, and optimize their tax strategy can not only reduce their liability but also avoid penalties. At KnowVisory Global, we help

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How to Find an Affordable Virtual Bookkeeping Service for Your Business
Bookkeeping

How to Find an Affordable Virtual Bookkeeping Service for Your Business

With rising business costs and tighter operational margins, today most US founders and mid-size business owners find it difficult to have a full-time, in-house resource. Hiring a virtual bookkeeper – for them – is one of the easiest and fastest ways to manage their finances. It allows them to offload their everyday accounting and bookkeeping tasks to experienced professionals who offer the same core support as a traditional bookkeeper, without the added costs of salaries, office space, or long-term commitments. This makes them an affordable and flexible solution for startups, growing businesses, and established companies alike. In fact, from freelancers to full-service outsourced accounting providers, businesses today have more choice than ever. This also adds more complexity to the process as evaluating affordability, reliability, and fit becomes difficult. Our blog walks you through what virtual bookkeeping is, why it’s cost-effective, and where to find reliable, affordable providers that fit your business needs. What Are Virtual Bookkeeping Services? Virtual bookkeeping is the process of appointing a third-party service provider to manage all your bookkeeping and accounting tasks. Virtual bookkeeping services typically include: Why Virtual Bookkeeping Is Often More Affordable Than In-House Bookkeeping Because virtual bookkeepers handle tasks remotely, they offer both flexibility and convenience. You get to: Save on Overhead Costs When you hire an in-house bookkeeper, your costs extend far beyond salary. The costs of office space, equipment, software licenses, and ongoing management all add up quickly. With virtual bookkeeping, these overhead expenses are eliminated. You only pay for the bookkeeping services you actually need, without the burden of paying licence fee or paying a premium for a full-time employee. Hire Bookkeepers, As Per Your Needs Do you need a bookkeeper all-round the year? Maybe not. Transactional volumes and seasonal fluctuations are far too common in US businesses. This means your bookkeeping workload may rise during peak periods and slow down during off season. Virtual bookkeeping services come with flexible monthly and hourly pricing models that adjust based on your actual usage. This allows you to scale support up or down as needed, rather than paying a fixed salary regardless of workload. It helps control costs while still ensuring accurate and timely upkeep of financial records Access Global Talent Pool Virtual bookkeeping eliminates the limitations of hiring resources based on location. You can hire skilled professionals as per your budget, industry needs, accounting software, or reporting requirements. You not only save cost on resources but also get access to distributed teams and flexible working models that deliver consistent support while adapting to your business’s operating hours and reporting timelines. Scale Without Hassle As your business grows, so does your bookkeeping needs. Virtual bookkeeping services scale with your needs, without converting your variable costs into fixed overhead. Remember, virtual bookkeeping is not about cutting corners – it’s about working smarter. Where to Find Affordable Virtual Bookkeeping Services Here’s how you can find reliable support for your bookkeeping needs: Individual Service Providers  Some bookkeepers operate independently and provide virtual bookkeeping services either from office or home-office. They typically manage multiple clients on their own. While this model works well initially, it leads to serious limitations as your business grows. One of the primary drawbacks is limited capacity. Because all the work is manged by a single person, availability can become an issue during peak periods such of business growth. Also, lack of quality checks can lead to inconsistencies and errors. Freelance Platforms Freelance marketplaces are another option for businesses looking for affordable bookkeeping support. These platforms put you in instant touch with freelance bookkeepers. You can review profiles, compare prices, and communicate directly with bookkeepers before hiring. Many freelancers offer flexible monthly packages and specialize in specific accounting software. However, the quality and level of experience can vary significantly. It is important to review credentials carefully, ask detailed questions about their workflow, and start with a clearly defined scope of work. Freelance platforms can be a good fit for businesses with simple or limited bookkeeping needs. Dedicated Bookkeeping and Accounting Firms Bookkeeping and accounting firms offer the most reliable and scalable bookkeeping services to businesses looking to outsource their financial operations. These firms are built specifically to handle recurring bookkeeping workloads and reporting deadlines. They follow standardized processes and are fully equipped at managing compliance requirements across multiple clients and industries. With rigorous quality checks and reviews, they help maintain accuracy even during high workload. Another key benefit is access to broader expertise. Professional service providers typically employ bookkeepers with significant experience across industries and software platforms. This allows businesses to receive dedicated, as-required support as per their needs and budget – without paying for multiple specialized hires. They are particularly well-suited for growing, mid-sized as well as established businesses that need dependable support, timely reporting, and the flexibility to scale without sacrificing control or visibility. Referrals From Business Networks Referrals from business networks is another trusted way to find virtual bookkeeping services, particularly for businesses looking to work with professionals who have already been vetted by their peers. Most of the time, these bookkeepers are familiar with industry-specific bookkeeping requirements. They onboard quickly and can deliver results without much errors. However, referral-based hiring still requires careful review. What suits your peer might not suit you. So, carefully review the terms and conditions before moving ahead. What to Look for in a Virtual Bookkeeper Affordability should never come at the cost of accuracy or reliability. When evaluating options, focus on value rather than price alone. Some key considerations to make include: Make Virtual Bookkeeping Work for Your Business Virtual bookkeeping services have changed how U.S. businesses manage their finances. By removing location barriers and reducing overhead, it makes professional financial support accessible to companies of all sizes. Whether you choose a freelancer or an outsourced accounting provider, the key is to find a partner who understands your business, communicates clearly, and delivers consistent results without errors or omissions. Follow our tips to find the right provider for your books and keep

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7 Reports that Every Business Must Track
Payroll

What are Payroll Reports? 7 Reports that Every Business Must Track

Payroll is one of the most crucial parts of running a business. It’s not just about paying employees on time — it’s about making sure every dollar is counted and every rule is followed. When payroll is handled properly, your business runs smoothly. When it’s not, it leads to IRS penalties and employee dissatisfaction. That’s where payroll reports come in. These reports are not just numbers on spreadsheets. They tell the real story of your business finances — how much you’re paying your team, how much is going toward taxes, and whether you are following the labor laws correctly. It’s like a quick health check-up for your business finances – that every business must take up. What is a Payroll Report? A payroll report is a financial planning and analysis method that contains records of all payroll-related activities. It provides a summary of all the task items that ensue when you pay your employees. Like the wages, taxes, benefits, deductions, bonuses — all in one place. Think of it as a detailed snapshot of your company’s payroll activity over a given time – weekly, monthly, or yearly. Businesses use these reports not just to stay compliant but to actually understand their workforce costs. Payroll reports aren’t just about keeping track of how much you have paid to your employees; it’s about knowing how labor expenses affect your profits and how efficiently your team is managed, month on month. Whether you run a small business in the US or in any other part of the world, these reports are your safety net. They help you avoid mistakes. You can easily catch up on unpaid taxes, wrong deductions, underpaid wages, and other payroll action items that can lead to government penalties or employee dissatisfaction. Did You Know? A well-maintained payroll report can even help you forecast future costs. When you know exactly how much you spend on salaries, overtime, and benefits, you can plan your budgets better and control unnecessary expenses. Why Payroll Reports Are Important? For the IRS, accurate payroll data is serious business. Every year, the agency collected hundreds of thousands of dollars in additional taxes due to payroll and filing errors. Payroll reports help prevent that. They give you a full picture of your payroll expenses and ensure your business is following all the rules. They also help you: Types of Payroll Reports Every Business Must Generate There are mainly 7 different types of payroll reports. Some are for internal use, while others are required by the IRS. Let’s go through them one by one: 1. Payroll Summary Report This is one of the most commonly used reports. A master summary it gives an overview of your entire payroll for a specific period, usually one pay cycle. It includes gross pay, deductions, taxes, and net pay, and is often the first report reviewed by payroll teams before releasing salaries. Key Benefits: When you generate it regularly, you can compare pay trends between months or departments and spot inconsistencies early. 2. Employee Earnings Report This payroll report focuses on individual employee details. It shows how much each employee has earned, the deductions that were made, and how much money they took home. It includes salary, overtime, bonuses, and commissions. This is the report employees often look at when they question a paycheck or want proof of income. HR and accounting teams also use it for compliance and internal reviews. Why It Matters: 3. Payroll Tax Liability Report This report keeps your payroll taxes in check. It outlines the local, state, and federal taxes that your business owes. This includes Social Security, Medicare, income tax, and unemployment contributions. This report is usually reviewed before every filing period and is critical because even one missed payment or incorrect tax entry can lead to IRS penalties. The Benefits: Most companies prepare this report each pay cycle and again at the end of every quarter for Form 941 filings. 4. Deduction and Benefits Report All your deductions and benefits, including health insurance, retirement contributions, garnishments, and any other withholdings, are reviewed using this report. It even shows the employer’s contributions. Why It Helps: 5. Time and Attendance Report This payroll report links employee hours with payroll. It tracks when employees clock-in and clock-out, their overtime, leaves, and absences. It’s especially vital for hourly workers or shift-based industries. When connected to payroll software, it helps ensure employees are paid correctly for the time they’ve worked. Advantages of These Reports: 6. Quarterly and Annual Tax Reports These are official reports that are sent to the government agencies. They include IRS Form 941 (filed quarterly) and Form W-2 (filed annually). These forms summarize all wages paid and taxes withheld. Importance: 7. Audit Trail Report This is one of the most underrated but powerful payroll reports that every business must create as it is crucial during audits or internal reviews. It logs every payroll change — who made it, when it was made, and what was updated. It helps answer all the important questions like why a salary was adjusted, why a deduction was changed, and so on. Why It’s Valuable: This report is usually generated by Automated payroll systems. Automation eliminates the risk of manual errors. How Often Should You Generate Payroll Reports? Not all payroll reports need to be created at the same time. The frequency of each report depends on its purpose: Frequency Types of Reports   Every Pay Cycle Payroll Summary, Employee Earnings, and Time & Attendance Reports Monthly Deduction and Benefits Reports, Payroll Tax Liability Reports   Quarterly Quarterly Tax Reports Annually Annual Tax Reports and Audit Trail Reports   How Payroll Reports Support Better Decisions Payroll reports give business owners the data they need to make better decisions. By highlighting employees’ costs like wages, overtime, and benefits, they help business owners make informed decisions. For example, if overtime costs are increasing every month, it means you’re understaffed. Or if benefits costs are rising, it may be the time to re-evaluate your

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How to Set Up an Efficient Accounting System for Your E-commerce Store
Finance & Accounting

How to Set Up an Efficient Accounting System for Your E-commerce Store

Running an e-commerce business looks pretty easy. You list products, ship orders, and collect payments. But in reality, it’s a complex puzzle with dozens of moving pieces – numerous sales channels, moving inventory, multi-currency payments, and a long list of expenses to track. Without a proper accounting system, it’s almost impossible to manage back-office operations. The good news? Setting up an efficient accounting system isn’t difficult. All you need is the right structure, tools, and some professional accounting support. In this blog, we list everything you need to build a global accounting system that keeps your e-commerce finances clean, compliant, and easy to manage. 1. Start With a Clear Chart of Accounts A chart of accounts is a categorized list of everything your business earns, owns, and spends. It is the backbone of your entire accounting system. For e-commerce, a basic chart of accounts typically includes: Assets Bank accountsInventoryAccounts receivablePrepaid expensesEquipment and furniture Liabilities Sales tax payableAccounts payableCredit card balancesShort-term loans Income Product salesShipping incomePlatform fees reimbursedOther operating income Expenses Merchant processing feesShipping & fulfillmentAdvertising (Facebook, Google, Amazon PPC)Website and app subscriptionsFreelancer or employee paymentsPackaging materials A well-structured chart of accounts makes bookkeeping 10x easier because every transaction automatically finds its place. It helps prevent duplicate categories, mismatched numbers, and a huge headache during tax season. 2. Choose the Right Accounting System Choosing the right accounting system – cash accounting versus accrual accounting – can save you hours of stress later. Cash accounting is simple – you record money only when it actually comes in or goes out. Most small e-commerce sellers start here because it’s easy to manage. Accrual accounting, on the other hand, records income and expenses when they happen, not when the cash moves. It gives you a clearer picture of your real profitability, especially if you deal with inventory, pre-orders, or delayed payouts. Once you know which method fits your business, choosing software becomes much easier, and your books stay accurate from day one. 3. Automate As Much As Possible E-commerce accounting often starts on spreadsheets. But as your business grows, you need automated accounting software that automatically integrate with your sales channels, handle multi-currency transactions and conversions, and effortlessly sync with payment gateways. QuickBooks Online, Xero, NetSuite, SAP Business One, and Zoho Books are some of the popular options. Remember, your business might be small today, but building an automated setup early helps you scale with confidence. Pro Tip: Automate your bookkeeping processes to reduce manual work. It saves you time, reduces human error, and keeps your books cleaner. 4. Integrate Your Sales Channels, Payment Gateways & Banks Your accounting system should seamlessly talk to your e-commerce platforms. From Shopify to Magento and from Stripe to Razorpay, it must integrate everything together. When everything is synced automatically, your books stay consistent. You also eliminate the risk of missing income or forgetting to record fees. 5. Set Up a Proper Inventory Tracking Method Inventory affects cash flow as well as your profit margins. Yet, many online sellers treat inventory casually. To stay sorted, build an efficient accounting system that tracks everything – units purchased, units sold, cost of goods sold (COGS), inventory on hand, and inventory value. Three common inventory accounting methods are mostly used: 6. Track Your Cost of Goods Sold Correctly COGS is the biggest number that affects your profit. If you are not tracking it correctly, you’ll never be able to know your real margins. COGS includes: Many e-commerce owners make the mistake of counting only the product price and ignoring additional expenses. This leads to overestimated profits and poor pricing decisions. A clean COGS system is essential if you want to scale. 7. Establish a Clean Sales Tax Process Sales tax is one of the most confusing parts of running an e-commerce business. Especially in the U.S., where tax rules vary from one state to another. Adopt a global accounting system that accurately captures your customers’ location, taxes collected per transaction, marketplace-collected tax, if any – and calculate taxes that you need to file. A proper accounting system ensures you charge the correct tax rate and stay compliant with state as well as federal tax laws. 8. Keep Personal and Business Expenses Separate Mixing personal and business money is the best way to create accounting chaos – not to forget the tax-time nightmare it creates. To stay sorted, set up a dedicated business bank account and a separate UPI/wallet account. It helps you track expenses more clearly and maintain accurate cash flow reports. 9. Perform Monthly Reconciliations Make sure to reconcile your transactions every month. This includes checking: Monthly reconciliation helps you catch missing transactions, duplicate entries, missing fees, and misreported sales 10. Track Your Key Financial Metrics Your accounting system isn’t just for compliance—it should help you understand the health of your business. Here are the key financial metrics every us business owner should track. By tracking these financial metrics consistently, you can make smarter decisions about pricing, marketing, and inventory. 11. Work With a Professional Accounting Service Provider E-commerce accounting gets messy faster than most people expect. Once you start dealing with multiple products, different payment apps, refunds, shipping costs, and taxes from different states, the numbers can get out of hand pretty quickly. That’s why having someone who actually understands the backend—an accountant or a bookkeeping team—can save you a lot of stress. They’ll set things up the right way, clean up the chaos, automate the boring stuff, and give you numbers you can trust. It means fewer headaches for you and more time to actually grow your store. At the end of the day, a solid accounting setup isn’t a “nice to have” for e-commerce. It’s the thing that keeps everything else running smoothly. With the right tools and the right people supporting you, handling your books becomes much easier.

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How to Pick a BOT Partner That Drives Global Growth
BOT

Building Success Together: How to Pick a BOT Partner That Drives Global Growth

Setting up your Global Capability Center (GCC) through build-operate-transfer model in India is a smart way to expand and strengthen your business operations. It gives you access to a large talent pool, lower operating costs, and round-the-clock productivity. But here’s the truth — the success of your offshore team largely depends on the service provider you choose to partner with. Your local partner is not just a vendor that helps you get started. They’re the ones that lay the groundwork for what will eventually become your own offshore center. From finding the right office space and hiring skilled professionals to managing compliance, payroll, and ensuring cultural alignment — your offshore partner handles the details that can make or break your setup. A strong local partner can make your transition from “build” to “operate” to “transfer” feel seamless – that’s why partnering with the right one is important. |Also read: Build-Operate-Transfer (BOT): A Strategic Way to Build Offshore Operations Without Losing Control| Why Choosing the Right Service Partner Matters Seamless Local Expertise Every country has its own laws, tax regulations, labor rules, and government policies. Staying compliant with them is important. A seasoned local partner understands the local landscape inside out. From registering your offshore unit to setting up processes, handling payroll taxes and managing data privacy, they handle everything for you. Their expertise helps you save time, prevent legal missteps, and keep your operations compliant with the law – right from the start. Faster Access to Skilled Talent India’s biggest BOT advantage is its rich and diverse talent pool. As of late 2024-2025, India has over 400,000 Chartered Accountants (CAs), approximately 100,000 CMAs, and produces around 1.5 million engineering graduates annually. But tapping into that talent efficiently requires local market understanding. An experienced partner has established recruitment networks and HR systems in place. They can help you find and hire accountants, IT specialists, engineers, and customer service executives who accurately meet your business requirement. They also take care of the onboarding process, handle training, and help offshore resources align with your company’s culture. Operational Stability Whether you operate in-house or run an offshore unit, everyday operations involve managing people, tracking performances, ensuring quality – all while meeting deadlines and keeping costs under control. A BOT partner manages the entire operation for you. They train your team, monitor KPIs, and fix operational challenges to keep your processes running smoothly, without a glitch. Regulatory and Legal Stewardship India’s changing legal landscape requires more than basic knowledge. The right partner ensures your business stays compliant with labor laws, data protection rules, company structure requirements, and statutory filings. This helps reduce legal risks and keeps your operations running smoothly from day one. Speed and Agility Markets move quickly, and your GCC partner needs to keep up. From legal setup and infrastructure to hiring the right talent, speed matters. Choose a partner who can get your operations up and running within 60 to 90 days—without cutting corners on quality or compliance. Hassle-Free Cultural Alignment Culture matters more than most people think. Every country has its own way of working – and it is important that your teams (onshore as well as offshore) align. A good local partner acts as a bridge between your headquarters and your offshore team. Through regular orientation sessions, transparent communication, and cultural alignment, they help create a unified company culture even across time zones. Cost Transparency A strong partner offers full transparency into how your investment is being used. A clear cost-plus model means no hidden charges, no inflated markups, and no surprise expenses. This gives your leadership team better control over budgets and helps ensure your spending aligns with the value you receive. Complete Risk Management No business expansion is without risk. From data security and confidentiality to employment laws and vendor contracts — there are multiple areas where non-compliance can lead to serious issues. An experienced BOT partner has established systems and certifications in place. They can help you protect sensitive information, manage audits, and keep operations compliant with both local and international regulations. Working with them not only reduces your exposure to risk but also builds a strong foundation for smooth ownership transfer when you’re ready to take over. A Smooth and Predictable Transfer Sooner or later, you want your global capability center to function as an extension of your in-house team. This means taking complete control over the people, processes, assets, and operations. A reliable partner makes this phase remarkably smooth. Documentation, systems, and responsibilities transition naturally. They make sure you get a fully functional, independent center that’s ready to scale — not a setup you have to rebuild. Strategic Enablement and Scaling Support A GCC is not a one-time setup—it grows as your business grows. The right partner supports you beyond the launch, helping improve processes, upgrade systems, and align your center with your long-term digital transformation goals. |Expert Insight: BOT for Global Expansion: When It Works Best (and Why)| What to Look for in a BOT Partner To make your GCC run smoothly, it is important to find a reliable BOT partner. Here are a few things that you must check before finalizing one: Taking a bit of extra time here will save you a lot of trouble later. A good BOT partnership leads to fewer delays, fewer surprises, and a much smoother experience overall. The Long-Term Value of a Right Partner When you pick the right local partner, you’re not just outsourcing setup work — you’re laying the foundation for sustainable global growth. The benefits go far beyond cost savings. You gain: Ensure a Smooth Transfer, Not a Stressful One Setting up your GCC in India using the BOT model can be a game-changing move — but only if it’s done with the right partner by your side. A dependable BOT partner builds your team with confidence, operates your processes efficiently, and seamlessly transfers the ownership when you are ready. So, before you begin your GCC journey, invest the time to find a

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Estimated Taxes: What They Are & Why They Matter?
Taxation

Estimated Taxes: What They Are & Why They Matter?

Taxes are always confusing – especially for business owners and people outside a regular W-2, like freelancers and gig workers. For them, the IRS doesn’t wait until April to collect taxes. They expect self-employed people to pay taxes throughout the year – to avoid penalties and a big bill later. So, if your income isn’t automatically taxed through payroll, you’re expected to pay estimated taxes every quarter. Estimated taxes are quarterly payments that may be required when your income isn’t fully covered by withholdings. Who Must Pay Estimated Taxes? You likely need to make estimated payments if you: In short, if the IRS isn’t already deducting taxes out as you earn, then you are expected to pay your tax dues on your own — four times a year. When to Pay Estimated Taxes in 2026 For self-employed individuals, the IRS follows a “pay-as-you-go” system. These are the quarterly deadlines for the 2026 tax year: Income Period Estimated Tax Due Jan 1 – Mar 31 April 15, 2026 Apr 1 – May 31 June 15, 2026 Jun 1 – Aug 31 September 15, 2026 Sep 1 – Dec 31 January 15, 2027 If a due date falls on a weekend or holiday, it automatically moves to the next business day. Please note: You may also need to pay estimated tax for your state, which has varying deadlines from one state to another. How to Calculate Your Quarterly Estimated Taxes You can calculate your quarterly taxes by following either of the two methods: 1. Using Your Current-Year Estimates (Annualized Method) This method involves forecasting your income, deductions, credits, and tax for 2026 and paying at least 90% of what you expect to owe. Ideal for: If your income increases mid-year, adjust your future payments accordingly to avoid falling short. 2. Using Last Year’s Tax Bill (Safe Harbor Rule) A simpler method that’s based on the quarterly payments you made during the previous year. This approach works well if your income is steady or increasing. How to Make Estimated Tax Payments The IRS offers multiple payment methods: You can pay weekly, monthly, or as often as you like — as long as the correct amount is paid by each quarterly deadline. If your withholding equals at least 90% of your current-year tax or 100% of last year’s tax, you may avoid quarterly payments. Penalties for Not Paying Enough Estimated Taxes If you don’t pay enough tax throughout the year, the IRS may charge an underpayment penalty. The penalty is based on: For many taxpayers, this rate hovers around 8%, but it can change quarterly. Remember, penalties are in addition to interest owed on unpaid tax. Tips for Business Owners Paying Quarterly Taxes For small business owners, the biggest challenge is often cash flow. Here are practical ways to stay ahead: Need Help? Partner with KnowVisory Global and Stay Prepared for Tax Time Tax laws evolve each year; staying compliant needs planning and the right approach. At KnowVisory Global, we help business owners and self-employed individuals stay tax-ready year-round. Our seasoned accountants, bookkeepers and tax advisors keep your records accurate, your numbers up to date, and your business ready for every tax deadline. With professional tools and expert support, we make quarterly tax compliance easier. Partner with us and navigate your tax obligations smoothly and accurately, every quarter.

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How Global Accounting Practices
Finance & Accounting

Balancing Books Across Borders: How Global Accounting Practices Help U.S. Businesses Scale Faster

As businesses expand into new markets, their financial needs grow much faster than their internal capacity. Managing thousands of invoices, month-end closures, reconciliations, multi-entity reporting, and compliance checks becomes harder to manage with a small in-house team. Different currencies, new tax rules, unfamiliar compliance laws… they only add to the chaos. That’s where Global Accounting steps in. It solves this problem by adding scalable capacity, specialized skills, and faster turnaround—all without increasing overheads and payroll costs. With technical expertise in multiple accounting frameworks, such as International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP), Global accounting professionals possess both the skills and talent to create financial reports that stay accurate and compliant across borders. |Also read: Adoption of IFRS for SMEs Accounting Standard for First Time Startups – A Guide for Small and Medium-Sized Entities| Let’s see what global accounting really means, why growing U.S. businesses are adopting it, and how it directly accelerates scale, efficiency, and profitability. What Is Global Accounting? Global accounting refers to managing and strengthening your financial operations through cross-border teams, unified global processes, and technology-enabled workflows. Instead of hiring a small in-house accounting team, global accounting provides: The goal of offshore accounting is not to replace your existing U.S. finance team—it’s to strengthen it. You keep your core leadership (CFO, controller, finance manager), and the global team handles the heavy operational work. This creates a powerful hybrid model: U.S. Leadership + Global Execution = Improved, More Cost-Efficient Business Why Growing U.S. Businesses Are Adopting Global Accounting? It Eliminates the Talent Shortage The U.S. accounting industry is facing a massive talent shortage. Skilled accountants are becoming difficult to find, harder to retain, and significantly more expensive to hire. Offshore accounting gives businesses quick access to: This is not about “filling gaps”—it’s about building a future-ready workforce with the right skill sets. You can Easily Meet Multi-Country Compliance Every country has its own taxation rules, reporting timelines, and compliance requirements. Handling all of this internally is difficult. Your offshore accounting partner brings structure to the whole process. They ensure: This reduces risk and keeps your business compliant with global accounting practices. Global Teams Ensure Faster Closings, Clearer Reporting, Better Decisions When accounting processes are spread across a small team, delays are common. An overworked and understaffed team only leads to slow closings and unclear financial visibility. Global service providers use standardized workflows and multiple time zones to deliver: Better reporting leads to better, profitable business decisions, especially during expansion. Multi-Currency Management Becomes Seamless Foreign transactions bring numerous challenges along. Changes in exchange rate, problems with multi-currency reconciliation, and valuation differences are just some of them. Global accounting teams handle these daily and can make multi-currency accounting smooth and error-free. Significant Cost Savings Without Compromising Quality Hiring a full in-house U.S. accounting team can be expensive. Global accounting teams keep costs lean by lowering operational overhead and providing access to mid- and senior-level expertise at a fraction of U.S. costs This allows businesses to reinvest more into growth than into resources. In-House Accounting vs. Global Accounting: Side-by-Side Difference In-House Accounting Global Accounting In-house accounting teams rely solely on local talent, which is often expensive and difficult to hire due to the ongoing accountant shortage in the U.S. Global accounting gives businesses access to a wider international talent pool with strong technical skills and experience in cross-border financial operations. Teams work within U.S. business hours, which is a problem during peak work season. Global teams work across different time zones. They work even when your US team has logged off for the day. The company manage hiring, training, and onboarding of employees. Global accounting partners manage hiring, training, compliance, and day-to-day operations. This reduces the operational burden on U.S. finance leaders. Costs increase significantly as the team expands because salaries, benefits, software licenses, and infrastructure must all be managed in-house. Global accounting teams offer a more cost-efficient model where businesses gain more capacity and expertise at a fraction of the in-house cost. Process standardization and automation typically depend on internal bandwidth, which may delay improvements. Global accounting teams bring established processes, documented SOPs, and automation-driven workflows that improve speed and accuracy from day one. Leadership often spends too much time on operational tasks, leaving less room for strategic decision-making and growth-focused work. By shifting execution to global teams, leadership can focus on financial strategy, planning, forecasting, and business expansion. Does Global Accounting Replace U.S. Teams? No, and it’s important to understand this. Global accounting does NOT replace your U.S. finance team. It strengthens it. Your U.S. team stays focused on: While your global team manages: Together, they build a smarter, stronger financial function that helps you scale faster and get an edge over your competitors. Is Global Accounting Right for Your Business? It’s the right fit if: If any of these sound familiar, it may be time to expand your accounting functions. Challenges in Building a Global Accounting Team Building a global accounting team sounds strategic—but in reality, it’s a maze. Every country has its own rules, cultural nuances, processes, technologies, and expectations. If not done strategically and with the right support, building and running a global capability center often becomes a juggling act across borders. That’s where we step in. At KnowVisory Global, we help businesses establish their offshore teams with complete control and zero operational burden. Our Build-Operate-Transfer Model empowers US business owners to scale confidently by giving them access to skilled global talent, standardized processes, and a fully managed operational ecosystem—without the complexity of setting it up themselves. We hire and train the right team, set up the workflows, implement the tools, and run daily operations until you’re ready to take over. This means you get all the benefits of a global accounting capability—accuracy, speed, cost savings, and scalability—while keeping full oversight and ownership from day one. |Also Read: Why Global Businesses Are Turning to India for Build-Operate-Transfer (BOT)| Ready to build your global accounting team? Schedule a discovery call with us to know

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2026 Tax Changes
Taxation

2026 Tax Changes: What High-Net-Worth Individuals Need to Know

With the Tax Cuts and Jobs Act (TCJA) sunsetting at the dawn of 2025, the US tax landscape is up for a major overhaul. Many of the tax benefits introduced by TCJA in 2017 will phase out too, potentially increasing taxes for high-income and high-net-worth individuals. It marks an important turning point for the income tax code and may bring possible hikes in income and capital gains tax rates. Major Tax Changes Ahead: What HNW Individuals Must Know If TCJA’s individual provisions are not extended, possible results include: This is why 2025 is the last major planning year before rules reset. Upcoming Tax Changes: What to Look Out For Rising Income Tax & Capital Gains Exposure In 2026, high-income earners may see their tax brackets shift upward. Capital gains rules could also become stricter. There could also be an increase in taxes on investment income, equity compensation, and major asset sales. For accounting firms, this means more detailed planning. Firms will need to help clients decide when to realize gains and how to structure their income to reduce unnecessary tax exposure. Possible Wealth Tax Implementation Lawmakers are exploring newer ways to tax high-value estates and unrealized gains. While the exact form of a potential wealth tax is still unclear, global assets — including offshore trusts and foreign portfolios – may come under greater scrutiny. This makes offshore tax planning and transparent asset valuation even more essential for CPA firms. IRS’s Expanding Oversight on Global Wealth The IRS is tightening its focus on global wealth. Digital asset monitoring and stronger FATCA and FBAR enforcement are making it difficult for high-net-worth clients to hide their offshore assets. CPAs and accounting firms must brace themselves to manage both U.S. and international reporting requirements with absolute accuracy. The Impact Global Structures The upcoming changes are going to significantly impact our future investment decisions, estate strategies, and offshore holdings. Successful high-net-worth tax planning will require a holistic approach that blends U.S. and international accounting oversight. Partnering with KnowVisory Global gives US firms access to a seasoned team of experts proficient in providing IRS-compliant tax services, multi-state filings, and offshore bookkeeping support. Our CPAs and tax specialists can guide you through upcoming global tax reforms and make confident and profitable business decisions. Offshore Assets and Cross-Border Challenges HNWIs often invest and manage investments across several countries. While this offers significant growth opportunities, it also brings along many challenges, like: Complex Reporting Obligations U.S. taxpayers with offshore holdings must comply with FBAR and FATCA regulations. They must disclose all foreign accounts and assets to the IRS. Errors or omissions can lead to penalties that can reach up to 50% of the account balance per violation. Our IRS-compliant tax planning and return preparation services ensure complete FATCA and FBAR support. We help CPA firms maintain accuracy while minimizing risk. Valuation Challenges Different countries follow different valuation methods. Not following them properly can affect taxable income and invite penalties. Through outsourced accounting, we help firms reconcile offshore transactions accurately while keeping local accounting practices aligned with U.S. tax standards. Operational Issues Cross-border operations often lead to communication gaps. We use automated tools to keep your U.S. and offshore teams on the same page at all times. Data Security Global companies are at an increased risk of data theft. To stay safe, it is important to follow strong security protocols and encrypted systems. How to Prepare Yourself for the 2026 Tax Landscape Conduct a Thorough 2025 Wealth Audit Before stepping into 2026, make sure to review your client’s wealth portfolio. Carefully check all the investments, trusts as well as offshore holdings. Strengthen Global Coordination For HNWIs, it is important to coordinate between onshore and offshore assets. Partner with Specialized Outsourcing Experts Work with a trusted tax support partner to maintain both quality and compliance.Experienced teams can expertly handle your global tax obligations without increasing your overhead costs. Prioritize Tax Planning Partner with KnowVisory Global to Manage Global HNW Portfolios with Ease With over 15 years of experience in IRS-compliant tax preparation, multi-state filings, and offshore bookkeeping, we help accounting firms simplify complex reporting requirements. Our experts understand cross-border taxation inside out. They can help you eliminate operational bottlenecks and stay fully prepared for the changing 2026 tax landscape. They bring automation and structure to their workflow. Using AI-powered tax systems and secure cloud platforms, we help HNWIs achieve: The Time to Build a Future-Ready HNW Advisory Model is Now! As we inch closer to 2026, the countdown to the TCJA sunset has officially begun. This window offers CPAs and HNW individuals a rare opportunity to: The firms that stay ahead will create a significant advantage for their clients. So, act now to reduce tax errors, stay IRS compliant, and deliver unmatched value to your high-net-worth clients.

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key-Trends-Shaping-Payroll-Management-in-2025-
Payroll

Is Your Payroll Future Ready? Key Trends Shaping Payroll Management in 2025 & Beyond

Payroll has always been a complex back-office operation. You gather timesheets, manually enter formulas in Excel, generate reports, and hope everything adds up to perfection. It demanded hours of effort and dozens of small, manual steps to keep the process running. Yet errors and discrepancies creep in, and the stress continues. But 2025 is different. Today, payroll management is not about lengthy Excel or complicated spreadsheets. Modern technologies like AI, automation, cloud-based Edit  visibility tools, and smart outsourcing have turned payroll into a connected, intelligent system. It predicts costs, reduces errors, strengthens compliance, and helps business owners stay IRS-ready — all with far less manual effort. In fact, the latest research suggests that the payroll outsourcing market will cross $19.5 billion by 2030, with AI and automation leading the charge. in this blog, we are sharing the key payroll trends shaping the future: Digital & Remote-Ready Payroll Systems Are on a Roll Remote and hybrid work have transformed how companies run their payroll. Cloud-based payroll systems offer anytime, anywhere access for seamless team management – without manual effort. Payroll + HR Integration Platforms are in High Demand Instead of managing HR and payroll on separate tools, companies are now using fully integrated platforms. These platforms reduce paperwork, eliminate duplication, and provide real-time insights for better decision-making. AI is Transforming the Way Payroll Gets Processed AI isn’t a “future trend” anymore—it’s already powering accounting payroll services behind the scenes. Think of it as a quiet assistant that works for you while you work on building strategies or driving sales. It can: Checks overtime patterns Flag unusual overtime or bonuses Spot tax or deduction errors Predict payroll costs for upcoming months Suggest fixes before errors cause trouble AI learns from past payroll cycles and gets smarter with time. AI helps you notice even the smallest changes that humans might miss. The result? Payroll teams can focus on building better processes, helping employees, and giving managers real-time insights — instead of getting stuck in endless calculations. |Also Read: 10 Payroll Processing Best Practices Every Small Business Owner Should Follow| Automation is Becoming the New Norm Automation has become the backbone of accounting payroll services. Today, automated software handle most of the payroll tasks – from collecting timesheets to calculating pay, deducting taxes, and generating pay slips — automatically. They help in: Data collection – Automated software collects employee attendance and hours from apps or biometric devices automatically. Calculations – It then calculates pay, deductions, taxes correctly without manual input. Compliance – Even labor laws and tax rules get updated automatically. You don’t have to track them yourself. Pay Slips – Employees get their pay slips instantly in their portal or email. Reporting – Managers can generate detailed payroll reports in seconds. Plus, automation adds transparency. Employees can see pay details, track deductions, and download tax forms anytime. It reduces questions for HR and builds trust. On-Demand and Flexible Pay Options are Increasing With rising costs of living, more employees are seeking financial flexibility. This is why earned wage access (EWA), also known as on-demand pay, is on a steady rise. Instead of waiting for the monthly or bi-weekly pay cycle, employees can now withdraw a portion of their earned wages anytime. This provides greater financial freedom, reduced stress, and improved workforce satisfaction. Pay Transparency Regulations Are Reshaping Payroll Processes Pay transparency regulations require companies to disclose salary ranges in job postings. 10 U.S. states have already implemented pay transparency laws, with others quickly following suit. Modern payroll systems are being upgraded so they can support this level of transparency without delays or manual work. Cybersecurity Has Become a Critical Payroll Priority Payroll data holds the most sensitive employee information. Bank accounts, Social Security numbers, tax IDs, and more. With cyber threats increasing, companies aren’t taking proactive measures to strengthen payroll security. They are adding advanced protection measures to their payroll systems to keep employee information safe at all times. Self-Service Payroll Portals Are Becoming Standard Employees now expect instant access to their payroll information. Companies are responding by adopting self-service portals and mobile apps where employees can view payslips, check deductions, update their information, download tax forms, and track reimbursements. Many systems even include AI chatbots for instant payroll-related support. This shift is helping businesses reduce HR workload and increase transparency across the organization. Outsourced Accounting Payroll Services & BOT Models Are Growing Rapidly With payroll becoming more demanding and compliance-heavy, many businesses are turning to outsourced payroll providers and BOT (Build-Operate-Transfer) models. These setups give companies access to expert teams, advanced systems, and round-the-clock support—without the overhead expenses of an in-house team. |Expert Insight: How to Use AI in Accounting: Modern Solutions for Businesses| Gear Up for the Next Leap in Payroll Management In 2025, we’ve entered a new era – where people and automation technology work together to drive profitable business outcomes. But even with all the innovation happening, accounting payroll services still need the human eye and judgment that only experienced professionals can bring. CPAs and finance teams play an irreplaceable role — they don’t just process data; they understand what those numbers mean, identify risks, and make sound, ethical decisions. AI and automated software might detect an unusual pattern or flag an anomaly, but it takes a human to uncover the reason behind it and decide the right course of action. Think of it as a partnership — AI handles the heavy lifting and speed, while CPAs add context, reasoning, and accountability. Together, they create a payroll process that’s not only efficient but also more insightful and dependable — one that aligns with your business goals, not just your spreadsheets. Future-Proof Your Payroll Today! At KnowVisory Global, we help US businesses stay ahead of the curve with modern, tech-driven accounting payroll services solutions. Our systems streamline everything — from calculations and reporting to compliance and accuracy — so you can save time, reduce costs, and focus on what matters most: growing your business. Ready to take your payroll

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