Failing to remit payroll taxes is a big mistake! Sometimes a business owner will let the payment of payroll taxes slide in favor of paying other vendors OR perhaps will make a partial payment, thinking it will be ok -- not a good idea ----- always remit the full amount of your payroll taxes before paying other bills. Here are a couple of examples why. Continue reading
Weekly wrap-up of news and information from around the web – there’s so much information out there that it’s difficult (at best) to keep up! I’ve added a WordPress plug-in that grabs information from my Twitter stream to help me (and hopefully you as well) keep up with everything. Look for the Weekly Wrap-Up: News You Can Use every Friday. I'll try to be consistent and organize the information into the same categories each week.
See what caught my attention this week in these topics: Accounting & Taxes, eBooks/Webinars/Videos, Payroll/Certified Payroll/Prevailing Wage, QuickBooks, Small Business/Organization/Productivity, Construction, and Social Media/Marketing/Website Design. Continue reading
Is your CPA REALLY the right person to be completing your tax return? Did you know that there are different educational requirements for different types of tax preparers? For example, attorneys, certified public accountants, and enrolled agents will not have to undergo competency testing or obtain CPE credits for federal tax law topics under new IRS regulations?
Who does your taxes? Do they know tax law? This guest blog post by Bruce McFarland of L & R Tax Preparation will provide information about new rules and regulations that the IRS is mandating for paid tax preparers. Continue reading
How do you know when you can expense a tool and when you should capitalize a tool and depreciate (expense) it over time? Guest blogger Joyce M. Washington provides you with some tips. Continue reading
The Internal Revenue Service advised truckers and other owners of heavy highway vehicles that their next federal highway use tax return, usually due Aug. 31, will instead be due on Nov. 30, 2011. Continue reading
Top 10 Tuesday includes our favorite tips and news stories from around the web. This week there are some important tax, QuickBooks and business articles for you to read. Continue reading
The office of Federal, State and Local Governments will hold a free, one-hour webinar on July 14, 2011, to discuss the required 3 percent income tax withholding on certain payments made by government entities, to take effect in 2013. Continue reading
Top 10 Tuesday includes our favorite QuickBooks and business productivity tips for around the web. Continue reading
In this article, we’ll cover each topic listed in the Year-End Guide, and offer some additional tips on each of the three sections: Tasks to prepare for filing taxes, Tasks to do if you use subcontractors, Tasks to do if you have employees and some Tips for the upcoming year. Continue reading
The Balance Sheet by Class Report was first introduced with QuickBooks 2011, however, it is also available in QuickBooks 2012, 2013, and 2014; has specific requirements for handling many or our normal day-to-day transactions. A Sales Tax Liability check, causes the amount of the payment to display in the Unclassified column of the Balance Sheet by Class Report - a Journal Entry is required to correct it. Continue reading
Many companies fail to set up their charts of accounts correctly in QuickBooks. At tax time, when their accountant receives a copy of the file, it becomes a bigger mess. Continue reading
The Hire Act of 2010 is new $17.5 billion legislation (scaled down from an earlier $150 billion package) is of particular interest to businesses as it includes new tax benefits directly related to hiring employees and writing off investments in equipment. Continue reading