If your company sells services, you can track the time spent providing them in QuickBooks. When you sell a product to a customer, you know it. It goes away, and your inventory count in QuickBooks is reduced by one. This tracking helps you know what’s selling and what’s not, and it signals when a reorder [...]
Every year, a substantial percentage of weddings aren’t first-time nuptials but second (or subsequent) marriages. Here are four tips to help such partners better manage the situation. Take Inventory. Identify the assets and liabilities each person brings to the union. If one spouse has significant debt, how will the couple manage it? Or if one [...]
Still Important: The Tax Impact of Business Travel With conference calls and Web meetings, increasingly prevalent, business travel isn’t what it used to be. But if your company is still sending employees out on the road, it remains important to understand the tax ramifications. Fringe Benefits Generally, for federal tax purposes, a company may deduct [...]
Keeping up with the complexity of the Internal Revenue Code is challenging for an individual and even more so for a business owner. But, if you’re someone who handles both roles – an owner-employee – the difficulty level is particularly high. Nonetheless, it’s important to stay up to speed on your specific obligations. As you’re [...]
January 16 Individual taxpayers’ final 2017 estimated tax payment is due. January 31 File 2017 Forms W-2 (“Wage and Tax Statement”) with the SSA and provide copies to your employees. File 2017 Forms 1099-MISC (“Miscellaneous Income”) reporting nonemployee compensation payments in box 7 with the IRS and provide copies to recipients. Most employers must file [...]
Disaster planning is usually associated with businesses. But individuals need to prepare for worst-case scenarios, as well. Unfortunately, the topic can seem a little overwhelming. To help simplify matters, here are 5 keys to disaster planning that everyone should consider: Insurance. Start with your homeowner’s coverage. Make sure your policy covers flood, wind and [...]