Archive for the Uncategorized Category

Using Custom Fields and Classes in QuickBooks Online

Using Custom Fields and Classes in QuickBooks Online QBO’s tools are generic enough that myriad businesses can use it. But custom fields and classes help you shape it to meet your specific needs. Small business accounting is not a one-size-fits-all proposition. Your company is unique in that

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The ”Special” Reindeer Quiz

As the holidays approach, we will quickly be flooded with holiday specials, iconic movies and lit-up everything. As you sit around the fire staying warm, consider your knowledge of that iconic reindeer who guided Santa’s sleigh on a stormy winter night. How old is Rudolf? The story

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Using Purchase Orders in QuickBooks Online

QuickBooks Online Plus offers the ability to create purchase orders. But they require knowledge that may be foreign to you. If your business purchases products from vendors that you then sell, you may have occasion to use purchase orders. These forms simply tell your suppliers what items

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Using Statements in QuickBooks: The Basics

Most small businesses use invoices for billing customers. But there are times when you may want to send statements instead of — or in addition to — invoices.  One of the more enjoyable parts of your job is probably sending invoices to your customers to bill for

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A Summer Adjustment Can Prevent a Tax-Time Surprise

IRS Summertime Tax Tip 2014-10, July 25, 2014 When it comes to filing a federal tax return, many people discover that they either get a larger refund or owe more tax than they expected. But this type of tax surprise doesn’t have to happen to you. One

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Children’s Online Privacy Gets a Boost

There is little question that one of the biggest concerns of parents today is their childrens’ online safety. There are few barriers keeping young children from setting up a Facebook account or a free service through Google. Thankfully, in the FTC issued amendments to the Children’s Online

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Certainty in Federal Student Loan Rates

Congress recently passed legislation that will lower federal student loan rates. This legislation provides a level of certainty for all taxpayers. While more details will be forthcoming, here is what is known. New Rate Program Under the recently passed legislation, the rates for these loans will now

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QuickBooks’ Custom Fields: An Overview

Part of QuickBooks’ popularity comes from its flexibility. Here’s a look at how custom fields contribute to that element.    The beauty of QuickBooks is that it can be used for so many different kinds of businesses. Its smart design lets realtors and retail shops, plumbers and

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Avoid the Gambling Winnings Tax Surprise

With the increased popularity of lotteries and casinos, more unsuspecting winners are experiencing a lucky payday only to end up with a huge tax head-ache when filing their income taxes. Here is what you need to know: Look for the warning signs You are required to report

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Five Big Tax Mistakes

As a reminder, businesses may accelerate the expensing of qualified capital purchases. This can be done within two special provisions in the tax code. Section 179 The American Taxpayer Relief Act of 2012 extends the annual $500,000 amount of qualified assets that may be expensed (instead of

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