Being selected for an audit doesn’t mean that you’re suspected of incorrectly reporting your taxes. There’s no getting around it: The prospect of being audited by the IRS is unnerving. But the agency chooses to audit individuals and businesses for a number of reasons, including: Mismatched
Read more →If you have multiple users in Xero, you’ll probably want to restrict them to specific areas of the site. If you were still using a paper accounting system, it’s unlikely that you would let everyone dig through file folders, peer at your checkbook register, or look at
Read more →The business structure you use — sole proprietor, LLC, etc. — has tremendous impact on how your company operates and pays taxes. A business structure is simply an organizational framework. The IRS requires you to select one for your company, since this designation will determine the tax
Read more →2014 audit statistics show changes Every year the IRS publishes the statistics of the number of tax returns they are examining. Provided here are the last three years of published information and a look back to 2008 to see any trends: Observations: Overall, you have less than
Read more →“Account” can mean more than one thing in QuickBooks Online. Here’s a look at its multiple concepts. Until you started doing your company’s accounting, the word “account” probably meant a checking or savings account at a bank or your identifying information at a place like a brokerage.
Read more →Tips for every bride and groom Summer is a popular time to tie the knot. Planning for the event takes hundreds of hours and thousands of dollars. Often overlooked in the craziness of the event are important tax and financial topics. If you are planning to get
Read more →Intuit discontinued its own QuickBooks mobile app a while back, but there’s still plenty of processing power available for your smartphone or tablet. In days gone by, running a company was a 40 hour per week proposition. You might have taken work home some evenings or gone
Read more →Even if your 2014 refund hasn’t hit the mailbox yet, it’s time to get a jump on your 2015 taxes. What does the phrase “tax planning” mean to you? Hurriedly giving charitable donations in December to try to knock down your total income tax obligation Setting aside
Read more →If you’re planning to do your own payroll in QuickBooks Online, you’ll need lots of setup time — and perhaps our assistance. Payroll setup and processing is probably the most complex, challenging set of tasks you’ll encounter in QuickBooks Online. While all of the work you do on the
Read more →Be proactive about the security of your QuickBooks company file, and you’ll be less likely to encounter data theft. Thanks to the internet, privacy has been on the wane over the last few years. We assume that our addresses and phone numbers are public information, thanks to
Read more →