2018 has begun. Does your accounting to-do list look like a clean slate, or are critical 2017 tasks still nagging? Getting all of your accounting tasks done in December is always a challenge. Besides the vacation time you and your employees probably took for the holidays, there are those year-end, Let’s-wrap-it-up-by-December-31 projects. How did you [...]
You know that QuickBooks saves a lot of time. But have you explored how it does so by memorizing transactions? Your accounting work involves a lot of repetition. You send invoices. Pay bills. Create purchase orders. Generate payroll checks and submit payroll taxes. Some of the time, you only fill out those transaction forms once. [...]
It’s one of your more pleasant tasks as a QuickBooks user: receiving payments from customers. Here’s how it works. QuickBooks was designed to make your daily accounting tasks easier, faster, and more accurate. If you’ve been using the software for a while, you’ve probably found that to be true. Some chores, of course, aren’t so [...]
If you’re self-employed and you or your employees use a vehicle to conduct business, it’s important to know the latest tax rules. First, business-related vehicle expenses can generally be deducted using either the: Mileage-rate method (54 cents per mile driven in 2016), or Actual-cost method (total out-of-pocket expenses for fuel, insurance, repairs and other vehicle [...]
If you’re a shareholder-employee of an S corporation, you more than likely considered the tax advantages of this entity choice. But those very same tax advantages also tend to draw IRS scrutiny. And the agency has made clear that its interest in S corporations – including possible audits – will continue. WHAT’S THE PROBLEM The [...]
Many business owners launch their companies from the front lines – as an employee. And it’s not uncommon for owners to stay in that role, working with their staff members to grow the business and guide its strategic direction. Come tax time, however, owner-employees face a variety of distinctive tax planning challenges. PARTNERSHIPS AND [...]