Each year the IRS announces the “Dirty Dozen Tax Scams” they encounter most frequently regarding frivolous tax arguments and fraud. While seven of the “scams” are related to, “don’t cheat we have our eyes on you,” the other five are scams that all of us should be
Read more →Contractor or Employee? How the Income Tax Obligations Differ It’s a very important distinction, and one that can get you in hot water if you misclassify workers. Full-time employees of companies often look at independent contractors with envy. They can generally work whatever hours they want. They
Read more →Studies by the Government Accounting Office (GAO) show that many taxpayers who are eligible for education related tax relief don’t take advantage of it. The key reasons are: There are too many programs. If one includes tax credits, expense deductions, and special savings programs, there are more
Read more →Switching from QuickBooks desktop or starting fresh with QuickBooks Online? Here’s a quick overview of its home page. Whether or not you’ve ever used accounting software, we think you’ll like using QuickBooks Online. It was designed for small businesses who have little or no accounting experience, and
Read more →Want your tax return filed quickly and without error? Looking for a quick refund? Then double-check this list of items that are often overlooked. These missing items often cause delays in getting your tax return filed and your much anticipated refund into your hands. Missing W-2 or
Read more →For many the transition to retirement means adjusting to a fixed income that is often lower than the income you received while employed. To make matters worse, the most valuable asset you have is usually your home, but it cannot be readily turned into cash. To help
Read more →QuickBooks Online has worked well for countless businesses as is. But if you need more than it offers in some areas, there’s likely to be an app for that. You’d be hard-pressed to find two small businesses in the U.S. that have exactly the same needs when
Read more →QuickBooks is ready to use when you install it. But you can change its settings to make it work the way your company needs it to. There are some features that all small businesses need in their accounting software. Everyone needs a Chart of Accounts and a
Read more →For the first time, all taxpayers must include information about their health care coverage to the IRS on their 2014 Form 1040. Another year, another tax form or two. 2014 was the first tax year that the Individual Shared Responsibility Provision (SRP) of the Affordable Care Act
Read more →To whom do you owe money to, how much, and when? The QuickBooks Online Vendor Center answers these questions quickly. Whoever handles Accounts Payable for your company has an unenviable job. While the Accounts Receivable person gets to send invoices and happily record payments, the A/P employee has
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