5 Signs You Should Not Handle Your Own Business Bookkeeping

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There are some business owners who keep their own books and who have done so without any problems for years. This does not mean that every business owner should do this, however. These are a few signs that you will probably want to reconsider handling your own bookkeeping and hire a professional to help with it instead. 1. You Aren’t Good with Numbers Some people are good with numbers, but others aren’t.…

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4 Differences Between Using Quickbooks Online Vs. Desktop Quickbooks

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Whether you’re new to accounting software or have been using QuickBooks for some time, you may be wondering what the difference is between the online services and the desktop services. Both of them are top-of-the-line accounting platforms, but your business may lend itself to one more than the other. 1. QuickBooks Online Can Be Accessed Remotely QuickBooks Online is a web-based application that can be connected to from anywhere in the world.…

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Love Your Pets? 4 Steps To Ensure They're Cared For If You Die

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For more and more Americans, pets are like family members. That means that when you pass away, you likely want to make sure that your beloved animal friend is taken care of properly. How can you do this? Here are four steps any pet owners should take. Find a Guardian The first step to ensuring the proper care of your pet is to find someone who will love and care for them in your absence.…

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3 Tips For Getting Your Accounting Together This Year As A Small Business Owner

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If you are a new small business owner and struggled with keeping your expenses and accountings straight last year, here are three tips for getting things together and on a better track this year. #1 Have A Separate Payment Method For Business Expenses The first thing that you need to do is make sure that you have a payment method for business expenses that is separate from your payment method for personal expenses.…

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Own A Small Business? Why You Need A Third Party Accountant

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If you’re the owner of a small business, you’re likely looking for ways to conserve profits so you can grow your company.  While this way of thinking works as it pertains to things such as getting a good price on tools and supplies, it may not be the right approach to tackling administrative responsibilities.  You need to have the right people in place so that you can put your sole focus on increasing productivity.…

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Sales Tax: Common Mistakes By Small Business Owners

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One of the major accounting functions a small business owner has to fulfill is turning in their sales tax. Though there are some states in America that don’t have any sales tax, the majority either have sales tax or a similar general excise tax. A failure to report sales tax correctly could lead to substantial fines and penalties. Taxing the Wrong Items Some states tax products and other states tax both products and services.…

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3 Reasons To Consider Filing Your Taxes Early This Year

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Many people put off paying taxes until the last possible day that they can file to put off dealing with numbers or facing a high tax bill. However, even if you owe the IRS money, there are benefits that come with filing your taxes early. Here are three reasons you should consider doing your taxes as soon as possible this year. #1 Thwart Identity Fraud Every year, millions of dollars of tax returns are claimed through false returns filed by individuals who have stolen someone’s identity.…

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Don't Become Confused and Frustrated Over Tax Extensions and the Affordable Care Act's Filing Requirements

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Filing a tax extension definitely is within the rights of U.S. citizens needing an additional six months to prepare their returns. Taxpayers confused about how to reconcile advanced tax credits under the Affordable Care Act may find that requesting additional time to file makes sense. No one wishes to botch the forms and then deal with various problems as a result. Unfortunately, some panic may set in after an extension is filed, advanced tax care credits are taken, and an unexpected letter arrives ahead of the October 15 extension due date requesting the return.…

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Tips To Help You Get Your Books Ready For The First Tax Time As A Sole Proprietor

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If you are the sole proprietor of a new business this year, it is vital that you keep excellent records and prepare for tax time throughout the year. You should strive to file your taxes as soon as you can after the filing deadline so that you have that out of the way for the year and can use what you ended up paying in taxes to help you estimate your taxes for the next year.…

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Using Accounting Software To Perform Payroll Preparation In-House

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Businesses of all sizes must comply with regulations concerning payroll taxes. Many companies rely on a professional payroll service to help carry out their tax obligations. With the assistance of a certified public accountant (CPA), business owners can usually realize cost savings by moving the responsibility for payroll preparation from an outside firm back to the company. Like many other aspects of accounting, payroll preparation is well suited for automation. The frequency of required tax deposits is dependent on how quickly the deposits accumulate.…

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