HOW TO ENTER BILLS IN QUICKBOOKS
It’s not as much fun as creating invoices, but the bills must be paid. Here’s how QuickBooks helps. We’re in a bit of a transitional period with business bill-paying. Some…
WILL YOU GET A REFUND OR OWE FOR 2018?
Article Highlights: Tax Reform Form W-4 Withholding Refund or Tax Due As a result of tax reform, most taxpayers will be paying less tax for 2018 than they did in…
TAKE TWO. WHEN SHOULD YOU AMEND A PREVIOUSLY FILED TAX RETURN?
Amending your tax return can be a cumbersome process. Contact us to assist you with filing amended returns that can eliminate the headaches that come with the process.
REJOICE – BUSINESS MEALS ARE STILL DEDUCTIBLE
Article Highlights: Ban on Deducting Entertainment Expenses Business Meals Mixed Entertainment and Meals Substantiation Requirements Disallowed Employee Business Expenses If you are a business owner who is accustomed to treating…
OCTOBER 2018 BUSINESS DUE DATES
October 1 – Fiduciaries of Estates and Trusts File a 2017 calendar year return (Form 1041). This due date applies only if you were given an extension of 5 ½…
OCTOBER 2018 INDIVIDUAL DUE DATES
October 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during September, you are required to report…
The Key Steps to Take BEFORE You Start a New Business
Very few people think that starting a new business is easy. But at the same time, there are few first-time entrepreneurs who realize just how involved things are from the…
The 20% Pass-Through Tax Deduction for Business Owners
The Tax Cuts and Jobs Act (HR 1, “TCJA”) established a brand new tax deduction for owners of pass-through businesses. Pass-through owners who qualify can deduct up to 20% of…
The Auto Deduction in 2018 – Mileage or Actual?
First and foremost, remember the auto deduction isn’t travel, but expenses for your car, truck or SUV. Also, remember this includes ALL your vehicles as long as they have some sort of business…
Why small business owners should have a qualified retirement plan
The benefits of establishing and maintaining a tax-qualified retirement plan have always been substantial. While not all qualified plans are designed in the same manner, they all share the following…