October 15 Personal federal income tax returns for 2018 that received an automatic six-month extension must be filed today and any tax, interest and penalties due must be paid. The Financial Crimes Enforcement Network (FinCEN) Report 114, “Report of Foreign Bank and Financial Accounts” (FBAR), must be filed by today, if not filed already, for [...]
When you read the phrase “disaster prep,” you may envision bottled water and boarded-up windows. But information is also a critical asset to have the following a natural or manmade catastrophe. Here are four specific types of information you need: Personal identification records. These documents will enable you to prove the identity of your family [...]
Classifying a worker as an independent contractor frees a business from its portion of payroll tax liability and allows it to forgo providing overtime pay, unemployment compensation and other employee benefits. It also frees the business from responsibility for withholding income taxes and the worker’s share of payroll taxes. For these reasons, the federal government [...]
There’s more than one way to bill customers for your products and services. A statement charge is one of them. Depending on what kind of business you have, you probably have a preferred way of billing customers. If they walk into your shop and present a credit card or cash, you create sales receipts. If [...]
You may have breathed a sigh of relief after filing your 2018 income tax return (or requesting an extension). But is your office strewn with reams of paper consisting of years’ worth of tax returns, receipts, canceled checks and other financial records? Or perhaps your computer desktop is filled with a multitude of digital tax-related [...]
If your business pays a lot of bills, you need an efficient system for staying current with them. QuickBooks’ Bill Tracker provides that. Bill-paying may be your least favorite accounting activity. You definitely know how those checks and online payments affect your account balances, but it’s more than that. Staying up to date with your [...]