by Candy | Jan 17, 2014 | Bookkeeping
There are two forms of accounting that can be reported on an income tax return: cash and accrual. Most small businesses operate using the cash accounting method. This is when income and expenses are realized when money is either received or paid out. For instance,...
by Candy | Dec 20, 2013 | Bookkeeping, Business, News
Do you or your employees use vehicles for business purposes? If so, you’ll want to keep up to date on the new rates the IRS just released for 2014. You’ll need this information to calculate the deductible costs of using a vehicle for business, charitable, medical or...
by Candy | Dec 11, 2013 | Bookkeeping, Featured
As business owners, we are required to file 1099 forms for vendors we’ve paid if the purchases and those who have been paid fall into certain categories. These forms are due to the recipient by January 31, and to the IRS by February 28 if filing paper documents (29th...
by Candy | Dec 9, 2013 | Bookkeeping
The Internal Revenue Service passed a law in 2012 that takes effect January 1, 2014 that has an impact on businesses that charge automatic gratuities also described as service charges. According to the regulation, service charges must be characterized as wages and...
by Candy | Dec 4, 2013 | Bookkeeping, Business, Payroll
As an entrepreneur, there are some upcoming deadlines that you should be aware of to avoid failure to file or pay penalties. Mark your calendar for those that apply to you. Estimated Tax Payments: These are due 4 times a year if taxes are not paid through payroll...
by Candy | Oct 28, 2013 | About Us, Bookkeeping, Business, Featured, Payroll
Late nights, early mornings, and still more to do – are you a small business owner staying up late at night to do your bookkeeping so you can focus on your core functions during the day? Or perhaps you dislike the work so much you procrastinate until it’s tax...
