Stop Chasing Payments: QuickBooks’ Reminders Can Help You Get Paid Faster

, ,
In 2021, QuickBooks introduced a set of reminder options designed to tackle one of the most pressing challenges for many businesses: getting customers to pay on time. If you haven't fully utilized these features yet, it's time to revisit them…

A Secret to Lower Taxes: Special Deduction for Self-Employed Health Insurance

Article Highlights: Who Qualifies for the Self-Employed Health Insurance Deduction? Self-Employed Individuals Partners in Partnerships S Corporation Shareholders Where is the Deduction Claimed? The Tax Benefit What…

New Employee vs Independent Contractor Rule Effective March 11

Article Highlights: New U.S. Department of Labor Rule Prior Rule Rescinded Effect on ABC Test Used by Some States New Six Factor Test Opportunity for Profit or Loss Depending on Managerial Skill Investments by the Worker…

Navigating the Tax Implications of Remote Work for SMBs: A Comprehensive Guide

, ,
In the wake of the pandemic, remote work has become the new norm for many American workers. As businesses across a wide range of industries have shifted to a remote model, employees and employers alike have experienced numerous benefits such…

Common IRS Audit Triggers for Small Businesses: How to Avoid Them

, , ,
As a small business owner, the word 'audit' can be a source of anxiety. However, understanding the common triggers for an IRS audit and taking proactive steps can significantly reduce the likelihood of facing one. This article explores the factors…

Employee or Independent Contractor – A Primer for Employers and Employees

,
Article Highlights: Distinguishing Employee and Independent Contractor State Legislation Federal Guidelines Partners Advantages of Independent Contractor Status Form SS-8 SE Tax Form 8919 Penalties for Misclassifying…

Can a Self-Employed Taxpayer Mix Business and Pleasure During Foreign Travel and Still Get a Tax Deduction?

,
Article Highlights: 100% Business Primarily Vacation Primarily Business Special Circumstances Foreign Conventions, Seminars, and Meetings Cruise Ships Spousal Travel Expenses Note: the business expenses discussed in…

Your Entrepreneur Start-Up Guide: The Best Practices to Help Motivate Success

, ,
Ask any experienced entrepreneur and they will tell you that the difference between running a business and running a successful business is massive. To truly give yourself the best chance of success, and to help achieve your overall goals in…

Warning Signs That You Should STOP Managing Your Own Books

,
Warning Signs That You Should STOP Managing Your Own Books  On the one hand, it's almost a prerequisite for entrepreneurs of all types to have that "can-do spirit." That sense that nobody else sees things quite like they do so, whatever it…

The Tax Consequences of Gig Work

,
Over the last decade, in particular, the definition of the term "career" has changed. Rather than being employed by a single entity for which you receive a W2 at the end of the year, many are now participating in the "gig economy" in a variety…