Budgeting Made Simple for the Small Business Entrepreneur

Posted on 31. Oct, 2019 by in Bookkeeping Articles, Budget, Managing Finances, QuickBooks, Small Business Tips

Most of us came from the corporate world where working with budgets was an everyday occurrence. So now you are the one in charge and budgeting is the last thing on your mind for your business. Budgeting is just as important to the small business owner as it is to major corporations. It helps control […]

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Bill collector calling? Know your rights

Posted on 23. Oct, 2019 by in Managing Finances, Misc. Articles

Maybe you’re behind on paying your bills because of circumstances outside of your control. Or perhaps there’s been an error in billing. Either way, these scenarios may lead to a run-in with a debt collector. Fortunately, there are strict rules in place that forbid any kind of collector harassment in the U.S. If you know […]

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Keep Your Audit Fears in Check

Posted on 05. Jun, 2017 by in Bookkeeping Articles, Services, Small Business Tips, Tax Updates

Getting audited by the IRS is no fun. Fortunately, your chances of being audited are probably lower than you think. A look at the latest IRS statistics for 2016 reveals some interesting, and reassuring, facts about the risk of an IRS audit. Audits are becoming less common. The number of individual tax returns the IRS […]

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Six Tips for Working Beyond Retirement Age

Posted on 15. May, 2017 by in Bookkeeping Articles, Small Business Tips

Two-thirds of the Baby Boomer generation are now working or plan to work beyond age 65, according to a recent Transamerica Institute study. Some report they need to work because their savings declined during the financial crisis, while others say they choose to work because of the greater sense of purpose and engagement that working […]

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Business or Hobby? Tax benefits to claim if you can correctly categorize your activity as a business.

Posted on 08. May, 2017 by in Bookkeeping Articles, Small Business Tips

When you incorrectly claim your favorite hobby as a business, it’s like waving a red flag that says “Audit Me!” to the IRS. However, there are tax benefits if you can correctly categorize your activity as a business. Why does hobby versus business activity matter? Chiefly, you’re allowed to reduce your taxable income by the […]

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Marriage Tax Tips

Posted on 01. May, 2017 by in Bookkeeping Articles, Small Business Tips

  Marriage Tax Tips If you recently got married, plan to get married, or know someone taking the matrimonial plunge, here are some important tax tips every new bride and groom should know. Notify Social Security. Notify the Social Security Administration (SSA) of any name changes by filling out Form SS-5. The IRS matches names […]

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Spring into Household Budgeting

Posted on 17. Apr, 2017 by in Bookkeeping Articles, QuickBooks, Small Business Tips

Spring is in the air! As you’re wrapping up your tax filing for 2016, now is a natural time to either create a new budget or refresh your existing budget. Here’s how: Organize your data. Gather all your bank, credit card and income statements for the last several months to a year. Calculate how much […]

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Three Popular Tax Breaks are Gone

Posted on 10. Apr, 2017 by in Bookkeeping Articles, Small Business Tips, Tax Updates

As you make plans for the 2017 tax year, take note that three popular tax breaks expired last year and won’t be available unless Congress acts to extend them. Tuition and fees deduction. You used to be able to deduct as much as $4,000 in college tuition and fees as an adjustment to taxable income. […]

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Budgeting Made Simple for Entrepreneurs

Posted on 01. Nov, 2016 by in Bookkeeping Articles, QuickBooks, Services, Small Business Tips

Most of us came from the corporate world where working with budgets was an everyday occurrence. So now you are the one in charge and budgeting is the last thing on your mind for your business. Budgeting is just as important to the small business owner as it is to major corporations. It helps control […]

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5 Metrics to Gauge Your Business Performance

Posted on 22. Sep, 2016 by in Bookkeeping Articles, Marketing Tips, Services, Small Business Tips

Sometimes, the most telling numbers in your business are not necessarily in the monthly reports.  Although the foundation of your finances revolves around the balance sheet and income statement, there are a few numbers that, when known and tracked, can make a significant impact on your business decision-making.  Here are five: 1) Revenue per employee […]

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