For many of America’s entrepreneurs, historical methods of sending invoices in the mail, writing checks and using bookkeeping services is a thing of the past.
Small business financial transactions are widely varied on different platforms and require tailored organizational systems.
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With the advent of Companies like PayPal, routine transactions are being done in large “non bank” ecosystems.
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With more Americans receiving tax forms from intermediaries like Uber and Airbnb, many taxpayers are forced to document this income to the IRS.
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Understandably, modern business owners often lack the accounting knowledge to keep track of their financial records, the time to learn it and do it themselves, or the desire to pay for bookkeeping services that often don’t solve their problem.
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As the IRS continues to adapt its enforcement and detection policies, small businesses with large volumes of Paypal (Venmo) transactions will be vulnerable to investigation and penalties for not complying with the US tax code.
A Real SOLUTION
Opportunities exist for new, innovative professional services that are tailored to the needs in the market.
@ AI Financial, we have established new, innovative, proprietary systems to provide cost effective and innovative solutions to help the modern business owner face these challenges.