Category Archives: Operational Accounting

Five home office deduction mistakes

If you operate a business out of your home, you may be able to deduct a wide variety of expenses. These may include part of your rent or mortgage costs, insurance, utilities, repairs, maintenance, and cleaning costs related to the … Continue reading

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7 Best Practices for QuickBooks Online

Even if you’ve been using QuickBooks Online for a long time, it’s good to step back and evaluate your actions. “Best practices” aren’t enforceable rules. They’re simply guidelines businesses commonly follow in one area or another. If you’re in retail, … Continue reading

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Five reasons to incorporate your business

Most new businesses start with no thought about legal structure. In the eyes of the IRS, the default structure is a “sole proprietor,” in which your business profits are taxed on your personal tax return. This can serve you well … Continue reading

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What Sales Orders Are and When to Use Them

They’re not as commonly used as invoices. But if you need them, they’re there. When you want to document sales that you can’t (or won’t) fulfill immediately, but you plan to do so in the future, you can’t create an … Continue reading

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Receiving Payments in QuickBooks Online

It’s perhaps one of your favorite activities in QuickBooks Online: recording money that comes in. Are you doing it right? Your days of matching paper checks to paper invoices are over. QuickBooks Online excels at keeping your accounts receivable organized. … Continue reading

Posted in Business, business help, Business Owner, customer, Debit and Credit Cards, deductions, Filing Taxes, Inventory, New Business, Operational Accounting, Operations, quickbooks, quickbooks help, QuickBooks Online, QuickBooks Tips, record keeping, Tax Return, Uncategorized | Tagged , , , , , , , , | Leave a comment

Are You Protecting Yourself from Tax Identity Theft?

The IRS has thwarted some identity theft attempts, but thieves are still stealing billions of dollars every year from taxpayers. Another annual income tax deadline has come and gone. Maybe you had to pay in, but perhaps you were owed … Continue reading

Posted in Business, Business Owner, Filing Taxes, Fraud, New Business, Operational Accounting, Operations, Payroll, record keeping, Tax Fraud, Uncategorized | Tagged , , , , , , , | Leave a comment