Archive for Business

Recently Enacted Tax Breaks for Small Businesses

March 13th, 2012

Keeping track of tax changes these days is quite a task. Congress is constantly tweaking the tax laws in an effort to stimulate the economy and deal with the budget deficit. The following is a compilation of recent changes to keep you up date. Cell Phones No Longer Listed Property – This means that cell […]

2012 Standard Mileage Rates Announced

January 10th, 2012

The Internal Revenue Service has issued the 2012 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning on January 1, 2012, the standard mileage rates for the use of a car (also vans, pickups, or panel trucks) will be: 55.5 cents per […]

QuickBooks Tips And Tricks

November 1st, 2011

No matter which version of QuickBooks you’re using, there are always ways to make your workday easier. As with any software, we tend to learn the features we need and not much more. But small changes in the way you operate can add up to significant time savings and more accurate files. If you jumped […]

Home Office No Longer Red Flag?

July 20th, 2011

Whenever talking to clients about the allowable home office deduction, some usually respond with… ….”Are you kidding”, ….”No way!”, …”Isn’t that a RED flag”, or my favorite…”I’d rather play it safe than sorry”. Well, of course 10 years ago it MAY have been a RED flag. And if you don’t have a trusted tax adviser […]

Small Business Expenses 101

February 14th, 2011

For small business owners, tax breaks often come in the form of tax deductions – which can offer a nice little instant cash savings – if you know how to navigate tax law and claim the deductions you deserve (not what you believe you are entitled to). Large tax deductions are a notorious red flag […]

Congress Extends Tax Breaks

January 15th, 2011

Congress, in an eleventh-hour compromise agreement worked out with the Obama Administration and the GOP Leadership, has extended many of the Bush era tax reductions.  The following is an overview of the more frequently encountered tax changes that will have an effect on just about every taxpayer. INDIVIDUAL PROVISIONS Individual Tax Rates – Under the […]

Is The Tax Stalemate Finally Broken?

December 10th, 2010

In a news conference held December 7, and carried live by most major networks, President Obama discussed the tax agreement he had worked out with the GOP’s Congressional leaders the previous day. Although there is some discontent with the agreement among some liberal Democrats, it is expected to pass Congress before year-end. Keep in mind that this agreement – which primarily addresses tax cuts enacted in 2001 and 2003 (the “Bush era”) that have or will soon expire – has not yet become law and must first pass both houses of Congress, and there could be some modification to the original agreement.

Taxes 24/7/365

November 30th, 2010

The reasons for putting off tax preparations are endless – and understandable. So tax filing deadlines may become the culmination of marathon sessions with your records, which can make mistakes more likely. Conscientious daily work habits—including a constant eye on tax issues—can help prevent this painful scenario. QuickBooks offers many built-in tools to help you […]

Last Chance to Qualify for the 2011 Retention Credit

November 27th, 2010

There are two tax incentives to induce businesses to hire, during 2010, individuals who have been unemployed for at least 60 days.  The first incentive exempts the employer from the matching 6.2% Social Security payroll tax on a qualifying employee’s wages for the remainder of 2010. The second incentive is a Retention Credit, available on […]

Rental Owners Need to Prepare for the New 2011 Reporting Requirement

November 15th, 2010

If you are a rental owner and during 2011 make payments of $600 or more to a service provider (such as a plumber, painter, or accountant) in the course of earning rental income, the 2010 Small Business Jobs Act says that you are required to provide an information return (typically Form 1099-MISC) to IRS and […]

Tools

Tax Updates & Business e-Newsletter

January 25, 2010
by: James • Tools

Free Online Personal Financial Software

October 17, 2008
by: James • Tools