5 Ways to Get QuickBooks Ready for 2024 It’s hard to start fresh in 2024 when you still have 2023 tasks to do. Here are some ways to catch up on your accounting in QuickBooks. January’s tough. The holidays are over. Tax forms are starting to trickle in. You probably have a whole lot of [...]
As the year draws to a close, it is important to assess your financial situation and consider strategies to optimize your tax position for the upcoming tax season. This year-end tax planning guide serves to help you make informed decisions that can positively impact your tax liability. Year-End Tax Planning Steps: Individual Planning: Take a [...]
10 Tips for Better Budgeting… …and how QuickBooks can improve your chances of budget success Budgets are hard to maintain through the best of times let alone the last three years. First there was COVID. Then supply chain issues. Then a disastrous rise in inflation. If you’ve been trying to stick to a budget through [...]
Is your business having trouble collection payments from clients or vendors? Years after the onset of the pandemic, some operations continue to feel the impact on business activity. It may be small solace, but at least you might be able to salvage a bad debt deduction on your tax return. Caution: This tax treatment isn’t [...]
Did you know that you can transfer funds directly from your IRA to a Health Savings Account (HSA) without taxes or penalties? According to the IRS, you’re permitted to make one such “qualified HSA funding distribution” during your lifetime. Typically, if you have an IRA and an HSA, it’s a good idea to contribute as [...]
Many Americans receive disability income. If you’re one of them or know someone who is, you may wonder whether it’s taxable. As is often the case with tax questions, the answer is “it depends.” KEY FACTOR The key factor is who paid it. If the income is paid directly to you by your employer, [...]