How to Apply Finance Charges in QuickBooks You may hate to have to do it, but assessing finance charges for late payments may improve your overall cash flow. There are a myriad of ways to bring in customer payments faster and improve your cash flow. You can: Get a merchant account and let customers pay [...]
JANUARY 15 Individual taxpayers’ final 2018 estimated tax payment is due. JANUARY 31 For 2018 Forms W-2 (“Wage and Tax Statement”) with the Social Security Administration and provide copies to your employees. File 2018 Forms 1099-MISC (“Miscellaneous Income”) reporting nonemployee compensation payments in box 7 with the IRS and provide copies to recipients. Most employers [...]
Smart timing of deductible expenses can reduce your tax liability, and poor timing can increase it unnecessarily. One deductible expense you may be able to control to your advantage is your property tax payment. You can prepay (by December 31) property taxes that relate to 2018 (the taxes must be assessed in 2018) but that [...]
When is a loss actually a gain? When that loss becomes an opportunity to lower tax liability, of course. Now’s a good time to begin your year-end tax planning and attempt to neutralize gains and losses by year end. To do so, it might make sense to sell investments at a loss in 2018 to [...]
Estimates can be effective sales tools – if they look professional and offer attractive prices. Here’s how to create them using QuickBooks. You don’t need to be a car repair shop or an HVAC technician to present prospects and customers with estimates. In fact, there may be many times when an unexpected estimate—or bid, or [...]
Paying Bills in QuickBooks: The Basics The time-consuming part’s over once you’ve entered bills in QuickBooks. Here’s how to pay them. Last month, we explained that the process of paying bills in QuickBooks requires two separate sets of actions. We went over what’s required to enter bills and to set up reminders so they don’t [...]