Top 10 year-end tax planning tips

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From Accounting Today Between the upcoming presidential election and the COVID-19 pandemic and its attendant stimulus packages, this year has seen more than its share of uncertainty around tax — which makes helping clients…

What Led to Congress Extending the Paycheck Protection Program?

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The economic uncertainty created in the outset of the Coronavirus pandemic was unprecedented, to say the least. This is a big part of the reason why, soon after the spread began, Congress took steps that were equally drastic - they passed the…

Is The Government Keeping Your Refund?

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  Article Highlights: Bureau of the Fiscal Service Allowable Refund Offsets Disputing an Offset Injured Spouse Claim We all look forward to receiving our tax refunds, but what if you were expecting a refund and it never…

3 Ways to Receive Payments in QuickBooks Online

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 Recording customer payments is one of your more pleasant accounting tasks. Depending on the situation, you can choose from multiple ways to do this using QuickBooks Online.   If you made New Year’s resolutions this last January, you’ve…
5 Things You Need to Know About Sales Taxes in QuickBooks Online

5 Things You Need to Know About Sales Taxes in QuickBooks Online

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The most important thing you need to know about sales tax is that administering it correctly can be challenging. If you sold only one type of product to customers in one city, collecting and paying sales tax would be easy. But most businesses…
Hobby or Business? It Makes a Difference for Taxes – Now More than Ever

Hobby or Business? It Makes a Difference for Taxes – Now More than Ever

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Taxpayers are often confused by the differences in tax treatment between businesses that are entered into for profit and those that are not, commonly referred to as hobbies. Recent tax law changes have added to the confusion. The differences…
Learn what factors determine whether a household worker qualifies as an employee or an independent contractor.

Household Help: Employee or Contractor?

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Taxpayers often will hire an individual or firm to provide services at the taxpayer’s home. Because the IRS requires employers to withhold taxes for employees and issue them W-2s at the end of the year, the big question is whether or not that…
Planning for the Transition to a Single Income Household

Planning for the Transition to a Single Income Household

Going from two stable income streams to one can prove challenging, but it is a necessary step if you, or your spouse, want to stay home with your kids, go back to school or even start your own business. To avoid ending up in a pinch when the…
How QuickBooks Protects Your Data, and How You Can Help

How QuickBooks Protects Your Data, and How You Can Help

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The data in your QuickBooks company file contains some of the most sensitive information on your computer. Make sure it’s secure. Your customer list is gold. And those Social Security and bank card numbers in your payroll, client, and…
Gift and Estate Tax Primer

Gift and Estate Tax Primer

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The tax code places limits on the amounts that individuals can gift to others (as money or property) without paying taxes. This is meant to keep individuals from using gifts to avoid the estate tax that is imposed upon inherited assets. This…