Tax deductions? Yes, please!

By | January 10th, 2018|Categories: Accounting, CPAs and CFOs, Financial Investments, Small Business, Staff Accountants, Tax Information|Tags: , , , , , , , , , |

The conventional tax wisdom at the end of the year is to pull in deductions to offset current tax liability and push off income to postpone tax payment. This takes on added significance in 2017 with enactment of the new tax reform law, the Tax Cuts and Jobs Act (TCJA). Because the bill, just signed into Read more

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Will you see more money with the new tax reform bill?

By | January 8th, 2018|Categories: Accounting, CPAs and CFOs, Financial Investments, Small Business, Tax Information|Tags: , , , , , , , |

On the Friday before Christmas, President Trump signed the new tax reform bill into law. The Tax Cuts and Jobs Act will take effect January 1, 2018, but when will most taxpayers see the effects? When will they see more money in their wallets?   How much will the new Tax Cuts and Jobs Act save Read more

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Attorney Bookkeeping Procrastination Cost

By | September 11th, 2017|Categories: Accounting, Bookkeeping|Tags: , , , , , |

How Much Is Putting It off Really Costing Your Legal Practice? How important is attorney bookkeeping to your practice?  You’re an attorney managing your own law practice. You more than anybody know that the details matter. Your cases sometimes hinge on the smallest of particulars—details that to someone in a different profession might not seem so significant.   You also know the struggle of keeping your Read more

Bookkeeping Quiz: What was your profit margin on your last 10 clients?

By | September 1st, 2017|Categories: Accounting, Bookkeepers, Bookkeeping|Tags: |

Any small business owner you talk to knows that it's their customers that make their success possible. But if a business owner has any success, it's because their bookkeeping lets them know what they are spending on each of those customers. It's simple: to turn a profit, you have to spend less than you earn from Read more

Accounting Mistakes New Small Businesses Make: 4 Things To Avoid

By | August 9th, 2017|Categories: Accounting, Bookkeeping, Small Business|Tags: , , , , , , |

It’s no secret that the business world is unforgiving. That’s why as an entrepreneur who is just starting out, you want to get everything right the first time, and that means handling your money responsibly with proper accounting. In fact, if you look at the statistics, money issues are one of the most common reasons that Read more

5 QuickBooks Tips and Tricks for Small Business Owners

By | July 7th, 2017|Categories: Accounting, Bookkeeping, Small Business|Tags: , , |

As far as essential bookkeeping services for small business owners go, QuickBooks is among the best. Using it for your accounting needs saves time and money for your business, not to mention that it keeps your business’s numbers organized and easily accessible so that you can tell whether you are making or losing money in an Read more

Learn About the Tax Implications of Lending Money Before You Give Loans

By | October 8th, 2016|Categories: Accounting, Bookkeeping, Tax Information|Tags: , , , |

Lending money to a cash-strapped friend or family member is a noble and generous offer that just might make a difference. But before you hand over the cash, you need to plan ahead to avoid tax complications for yourself down the road. There are tax implications of lending money that you need to be aware of. Read more

The Best Way To Store Tax Records: Which Ones to Toss and When

By | September 28th, 2016|Categories: Accounting, Bookkeeping, Tax Information|Tags: , , |

Now is a great time to clean out that growing mountain of financial papers and tax documents that clutter your home and office. Here's what you need to keep and what you can throw out so you can figure out the best way to store tax records. Let's start with your "safety zone," the IRS statute Read more