Non-profit Annual Filing Due

Posted on 30. Apr, 2016 by in Bookkeeping Articles, Services, Small Business Tips, Tax Updates

Annual reporting is required for all organizations that wish to keep their non-profit status intact. The non-profit annual filing due date is May 16, 2016 for calendar year organizations. How can you help ensure your favorite charities stay compliant? Check on-line. The IRS has a master list of charitable organizations recognized as non-profits in good […]

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Change a Little… Save a Lot

Posted on 12. Apr, 2016 by in Bookkeeping Articles, QuickBooks, Small Business Tips

Changing your financial situation can seem to be an overwhelming task. Like most large problems, the best way to address them is to break them down into smaller, more manageable problems. The same holds true with your financial well being. Here are five small ideas that can yield big results to help improve your financial […]

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A Dozen IRS Not so Fine Penalties

Posted on 21. Mar, 2016 by in Bookkeeping Articles, QuickBooks, Small Business Tips, Tax Updates

Over the past few years the IRS has made the use of penalties and fines a more prevalent tool to encourage compliance among taxpayers. This “stick” approach is in direct contrast to the “voluntary” philosophy built within our tax system. Here are a dozen of the more common penalties and fees. S-Corporation and Partnership late […]

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Twelve Common Missing Tax Return Items

Posted on 14. Mar, 2016 by in Bookkeeping Articles, QuickBooks, Small Business Tips, Tax Updates

Want your tax return filed quickly and without error? Then double-check this handy list of items that are often overlooked. Review and signing your e-file approval. The sooner you review and approve your tax return, the sooner it can be filed. Having proof of health insurance. Most taxpayers should receive a Form 1095 that confirms you have […]

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A Dozen Financial Topics High School Students Should Know

Posted on 11. Mar, 2016 by in Bookkeeping Articles, QuickBooks

Often lost in the race to get kids through high school and on to life in the “real world” are basic financial skills that are simply not covered. Here are dozen financial concepts every high school student should know. How bank accounts work. Provide your student a basic understanding of checking accounts and savings accounts. […]

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Ten Steps to Better Manage Your Bookkeeping Records

Posted on 18. Feb, 2016 by in Bookkeeping Articles, Small Business Tips

Here are ten easy steps to better organize your bookkeeping records so the next time you open up QuickBooks, everything will be nicely organized for you! Vendor Invoices: Enter into your Accounting File as soon as you can. Accordion File A-Z: Use this to file your vendor invoices instead of taking up valuable file space. […]

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How to Work With Your Bookkeeper & CPA

Posted on 16. Feb, 2016 by in Bookkeeping Articles, QuickBooks, Services, Small Business Tips

No matter how big or small your business, it will have bookkeeping and tax needs!  To begin your journey on how to work with a good bookkeeper and CPA, you must first understand the accounting needs of your business. All small businesses require: Bookkeeping. The day-to-day recording of monies paid out and monies received in […]

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Budgeting Made Simple for the Small Business Entrepreneur

Posted on 14. Feb, 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 own business. Budgeting is just as important to the small business owner as it is to major corporations. It helps […]

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Identity Theft PINs Are For 2015 Not 2014

Posted on 11. Feb, 2016 by in Bookkeeping Articles, QuickBooks, Tax Updates

If you are one of the unfortunate victims of IRS identity theft you will need a one time PIN to file your tax return. This numeric identifier is sent to you via mail by the IRS. What has happened?  IRS PIN notice ( letter: CP01A) is being mailed to identity theft victims right now. The […]

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Retirement Contribution & Social Security Limits for 2016

Posted on 27. Jan, 2016 by in Bookkeeping Articles, QuickBooks, Small Business Tips, Tax Updates, VirtualConnections Newsletter

Retirement Contribution & Social Security Limits for 2016 Retirement Contribution planning is upon us.  If you haven’t already done so, now is a good time to plan for your 2016 retirement account contributions. As you determine your various funding levels for next year, remember to account for any matching programs offered by your employer.

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