I know I’ve talked about receipts before, and I can’t stress it enough. Because proof of expenses such as receipts, cancelled checks or bills are very important to keep! Keeping those records may just save you someday! You work hard … Continue reading →
The dreaded tax season is behind me (although I admit I do love it, I also love it when it is over, heh). I survived and so did you, woo hoo! Hopefully it ended on a positive note for you. … Continue reading →
Any bookkeeper will tell you, or rather plead with you….please keep your personal and business expenses and income separate. It will save you and them so much time and effort and give you a much more accurate view of your … Continue reading →
If you use your car in your business, you can deduct car expenses. If you use your car for both business and personal purposes, you must divide your expenses based on actual mileage. You can choose to deduct mileage … Continue reading →
Anyone with a Preparer Tax Identification Number (PTIN) can prepare a tax return for a client. However, tax return preparers have differing levels of skills, education and expertise. This searchable directory is intended to help you with your choice by … Continue reading →
What is your current bookkeeping system? or maybe you haven’t implemented one yet? Depending on your business needs, a spreadsheet may do the job just fine or you may want to invest in software. Or maybe it is just too … Continue reading →
Keep It Simple: We create a Chart of Accounts to classify Income and Expenses. Best practice is to keep it simple. Because the more accounts you have, the more time you will spend in deciding which account to use. For … Continue reading →
Talking about your business liabilities today. Some examples of liabilities are: Accounts payable Customer deposits Current portion of debt payable Deferred revenue Income taxes payable Interest payable. Payroll taxes payable … Continue reading →
Do you use Cash or Accrual basis in your business accounting? For most of us, cash is more simple although accrual will give you a better idea of what is happening when in your business. Unless you have inventory, most … Continue reading →
Ladies, did you hire a VA or someone else who did some work for you in your business who is not a regular employee? … Continue reading →
