How to Use QuickBooks’ Doc Center QuickBooks can store more than records and transactions. It has lots of room for supporting documents you’ve uploaded. We’ve been hearing about the “paperless office” for many years. But if you look around your work area, you probably still see evidence of a lot of paper. We’re not there [...]
A wise person – who may or may not have been an accountant – once said, “Simplicity is the key to a family budget.” However, the budget should also be comprehensive enough to cover all necessities. To find the right balance, a budget should cover two distinct facets of family members’ lives: the near term [...]
Businesses need to have inventory on hand. But having excess inventory is expensive, so it’s important to keep it as lean as possible. Here are some ways to trim the fat from your inventory without compromising revenue and customer service. ACCURACY FIRST Effective inventory management requires starting with an accurate physical inventory count. That allows [...]
Traditionally, important tax and financial records have been stored as hard copies in desk drawers, filing cabinets and safe deposit boxes. These days, however, it’s become increasingly popular and easy to digitize documents and store them electronically. Is this the right move for you? THE CASE FOR GOING DIGITAL One of the biggest advantages of [...]
If your company benefits include group term life insurance paid by your employer, a portion of the premiums paid for the coverage may be taxable. Depending on the amount of coverage you’re provided, some of it may create undesirable income tax consequences for you. The cost of the first $50,000 of group term life insurance [...]
Do you pay premiums for Medicare health insurance? If so, you may be able to combine them with other qualifying health care expenses and claim them as an itemized deduction for medical expenses on your individual tax return. This includes amounts for “Medigap” insurance and Medicare Advantage plans, which cover some costs that Medicare Parts [...]