Monthly Archives: December 2016

Get Ready for Tax Prep: What You Should Do

April 17 is still months away, but now’s the time to start preparing. You’re undoubtedly very busy right now. It’s the middle of the holiday season and moving quickly toward the end of the year, so you probably have reports … Continue reading

Posted in Business, business help, Business Owner, Filing Taxes, Financial Planning, Operations, save on taxes, Tax, tax advice, Tax Return, taxes, Uncategorized | Tagged , , , , , , , , , | Leave a comment

Complete these retirement plan steps before year-end

December 31 is the last day you can benefit from certain retirement tax breaks. For example, if you haven’t put the maximum amount allowed in your 401(k) – $18,000 in 2016 – increasing your contributions can save you money. If … Continue reading

Posted in Financial Planning, Investing, retirement, saving for retirement, tax advice, Uncategorized | Tagged , , , , , , , | Leave a comment

Ringing Out 2016 in QuickBooks

2017 is just around the corner. Now’s the time to do your end-of-year QuickBooks tasks. Since early January of this year, you’ve been faithfully creating new records, entering transactions, and recording payments. You’ve run basic reports. You’ve done your collection … Continue reading

Posted in Business, business help, Business Owner, customer, customer service, Filing Taxes, Financial Planning, guide, Inventory, New Business, Operational Accounting, Operations, quickbooks, quickbooks help, QuickBooks Tips, record keeping, sales, save money, save on taxes, stock, Supply, Tax, tax advice, Uncategorized | Tagged , , , , , , , , , , , , , | Leave a comment

Are you part of the “sharing” economy?

The IRS defines the “sharing” economy as economic activity generated through the use of technology that lets you earn money from your assets, such as a car. Income from these activities, including room rentals and car rides, is taxable, and … Continue reading

Posted in Filing Taxes, save on taxes, Tax, tax advice, Tax Return, taxes, Uncategorized | Tagged , , , , , , , | Leave a comment

5 QuickBooks Online Add-On Apps You May Need in 2017

Not finding quite everything you need in QuickBooks Online? Here are some handy add-on apps available. QuickBooks Online may work for you just fine as is. After all, it was designed to meet the needs of the millions of small … Continue reading

Posted in Business, business help, Business Owner, guide, Operations, Payroll, quickbooks, quickbooks help, QuickBooks Online, QuickBooks Tips, save money, Uncategorized | Tagged , , , , , , , , , , , , , | Leave a comment

S corporation loss for 2016? Check your basis

Typically, stock basis in an S corporation begins with the capital contribution you make to get the company started. At the end of each taxable year, your stock basis is adjusted to reflect your business’s operating results. After your stock … Continue reading

Posted in Business, business help, Business Owner, New Business, Operations, save money, save on taxes, Tax, tax advice, taxes, Uncategorized | Tagged , , , , , , | Leave a comment

Do you need to bunch your medical deductions?

Bunching deductions means timing the payments between years to get the best tax deduction. Since 2016 is the last tax year that taxpayers age 65 or older can use the 7.5% of adjusted gross income (AGI) deduction floor, you may … Continue reading

Posted in Business Owner, deductions, Employee Benefits, Filing Taxes, Financial Planning, health insurance, Uncategorized | Tagged , , , , , , , | Leave a comment