Is a Reverse Mortgage the Solution?

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

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Stretching QuickBooks Online: What You Can Do With Apps

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

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Make Your Preferences Known in QuickBooks

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

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The New Form 1095-A: Reporting Health Insurance Coverage

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

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Using the Vendor Center in QuickBooks Online

  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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Are Your Social Security Payments Taxable?

Are Your Social Security Payments Taxable? Sometimes they are. Make sure you understand the IRS’s rules. Do you receive social security benefits?  Maybe you have retired and are receive payments after working hard all your life.  Maybe you are disabled and receive payments as a result of

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Do You Qualify for the Earned Income Tax Credit?

  There are many requirements you must meet in order to qualify, but it may lower your tax bill. Supporting a family can be difficult, not to mention expensive.  Working families  whose income is fairly low need all the help they can get with their income taxes.

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Extender Bill Passes

A visible expression of confusion in tax policy out of Washington D.C. is the treatment of a short list of tax laws that have been extended only to expire once again. In late December, Congress finally acted to extend many of these tax provisions for 2014. Here

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2015 Standard Mileage Rates

  The IRS recently announced mileage rates to be used for travel in 2015. The business mileage rate increases by 1.5 cents while Medical and Moving mileage rates are lowered by one cent. Charitable mileage rates are unchanged. Standard Mileage Rates Mileage Rate/Mile Business Travel 57.5¢ Medical/Moving

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Bayside Accounting Services

5503 Muddy Creek Road, Suite 3
Churchton, MD 20733


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