IRS Says YES to Client & Prospect Business Meals Deductions
Hip, hip, hooray for the IRS! In Notice 2018-76, the IRS states that client and prospect business meals continue as tax deductions under the Tax Cuts and Jobs Act. This is very good news indeed. Under this new IRS guidance, you may deduct 50 percent of your client and prospect business meals if the expense […]
The Perfect Chart of Accounts for Your Business
Your “Chart of Accounts” is the list of accounts in your accounting system. The accounts, or categories, are listed on your reports, and the totals tell the story of how much your company spent, made, own, or owe depending on the type of account. It’s essential to create a list of accounts that you need […]
Five Ways to Streamline Your Payroll Process
For business owners with employers, payroll is a necessary task that can slow your day and tie you down if you let it. If you’re looking for a way to make payroll less time-consuming, here are five ideas you can put to good use: 1- Employee Onboarding If you hire a lot, empower your new […]
Are you being driven by distraction?
Let’s face it, unless you’ve been off on a yoga retreat in silent mediation for the past 18 months, you’ve undoubtedly gotten yourself wrapped in the reality show that is politics today. If you’re like many Americans, you rightly feel compelled to engage in shaping the future of your democracy. So continue to make calls, […]
Positive Pay – Protecting Your Business from Fraud
Positive Pay Fraud Protection Over 62% of Small Businesses are targets of payment fraud every year. Banks recognize that Small Businesses are vulnerable to check fraud both internally and externally. As a result, we recommend our clients use Positive Pay service through their bank. What is Positive Pay? Positive Pay is a service offered by banks that […]
QuickBooks Desktop 2017: Simplifying it further
QuickBooks Desktop 2017: Simplifying it further Intuit may have hit the mark at resolving lifelong product limitations that haunted users for a decade. While the new QuickBooks Desktop 2017 released mid-September highlights the Scheduled Reports as its flagship feature, the rest of the improvements are simple yet will make users think twice before switching to another accounting […]
Year-End Tax Prep Strategies to Prepare Small Businesses
Year-End Tax Prep Strategies for Small Businesses Many small business owners fear one time of year more than any other. That time, of course, is the time to prepare their year-end taxes. While taxes are stressful for anybody, small business taxes, can be especially challenging. If you find yourself scrambling every year to get your […]