Ways to Maximize Business Deductions

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Article Highlights  New Business Legal and professional fees Spousal Joint Ventures Self-employed Health Insurance Home Office Deducting the Cost of Business Equipment Advertising Expenses Website Costs Financing …

Does Your Business Need to File Forms 1099-NEC or 1099-MISC?

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Article Highlights: 1099-NEC Filing Requirements Independent Contractor Filing Threshold Form W-9 Form 1099-MISC If you use independent contractors to perform services for your business, for each one that you pay $600 or more…

Businesses Have 60 Days to Notify the IRS of Changes in Contact Information and Responsible Party

Article Highlights  Employer Identification Numbers (EINs) Contact Information Update Responsibilities ID Theft and Fraud Issues  Responsible Party Filing Tips Updating Individual Contact Information Blog: The Internal…

Customers Paying Late? How to Create Statements

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There are many ways to encourage delinquent customers to pay. QuickBooks Online’s statements may be effective for you. After the year-plus you’ve just experienced, the last thing your small business needs is customers who are behind on…

June 2021 Individual Due Dates

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June 1 - Final Due Date for IRA Trustees to Issue Form 5498 Final due date for IRA trustees to issue Form 5498, providing IRA owners with the fair market value (FMV) of their IRA accounts as of December 31, 2020. The FMV of an IRA on the last…

7 Different Types of Income Streams for Your Business

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7 Different Types of Income Streams for Your Business No matter what type of business you operate, you rely on having a predictable flow of income to keep your bills paid. If you only have a single source of income and it suddenly falters,…

How to Evaluate Your Business Idea Before Diving In

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They say that everybody has at least one good novel in them, and many people feel the same way about ideas for a successful business. If you are considering diving into the world of entrepreneurship, it’s a good idea to pause for a moment,…

Loan Application Period for the Paycheck Protection Program Extended

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Article Highlights:   Loan Application Period Extended Paycheck Protection Program Qualifying Expenses Loan Forgiveness If you missed the opportunity to apply for a Paycheck Protection Program (PPP) loan before the program…

The July 15th Deadline Is Fast Approaching, and it Isn’t Just for the 2019 Individual Tax Return

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The July 15th Deadline Is Fast Approaching, and it Isn’t Just for the 2019 Individual Tax Return Article Highlights:   Extensions Contributions to IRAs Estimated Tax Payments for the First Two Quarters of 2020 Individual…

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…