Tips & Tricks
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It’s That Time of Year!
We first want to wish all of you a very Merry Christmas Season. I for one am looking for a glimmering of great memories in such a crazy year. Hopefully all this craziness will be behind us in a few short months. In this issue of the Small Business Quick Reads please find some valuable information regarding some significant tax changes that will most likely affect your business this year and well beyond.As we get to most business’ yearend, making sure your books are “clean” becomes a much higher priority than during the rest of the year.We specialize in getting your books “clean” and restructuring your accounts so you can get timely and valuable financial insights about your business at the end of each month . So many business owners typically wait until their CPA/Accountant does yearend tax returns to see “How they did last year”. You don’t needMake 2021 Great for Your Business !
The Year End is upon us, and probably not soon enough for many.How did your business do this year ? Did your business reach the goals you were looking for in 2020? Looking forward, what do you want to do in 2021 better than you didn’t do in 2020 ?A mistake we often see is that small business owners treat their business as if it is just a “job” that has maximum job security, not realizing nothing is guaranteed. In 2020 this has become a stark reality to many.Many owners often treat their business so badly, its health and sustainability is compromised. Then when there is a business climate change, it suffers badly. Whether you have one employee or over fifty … having the right mindset and commitment to your business are critical to long term success.As the Owner, you are the CEO of the business. This position has
Small Business Information For Your Review
As we enter into the final calendar quarter on 2020, many are looking forward to this year ending. At least we didn't get hit with the "Killer Hornets" (knocking on wood) and hopefully we can still count our blessings in many ways. This month we are introducing a slightly different newsletter/blog to you that is designed to not only provide QuickBooks Tips & Tricks, but small business important information. We are planning to keep this newsletter in a smaller format, with fewer major topics. In this way we hope it will only take you a few minutes to review the information.Key Financial Metrics All Business Owners Need to Review
As we enter into the final calendar quarter on 2020, many are looking forward to this year ending. At least we didn't get hit with the "Killer Hornets" (knocking on wood) and hopefully we can still count our blessings in many ways. This month we are introducing a slightly different newsletter/blog to you that is designed to not only provide QuickBooks Tips & Tricks, but small business important information. We are planning to keep this newsletter in a smaller format, with fewer major topics. In this way we hope it will only take you a few minutes to review the information.The Biggest Day in Our History?
As we enter into the final calendar quarter on 2020, many are looking forward to this year ending. At least we didn't get hit with the "Killer Hornets" (knocking on wood) and hopefully we can still count our blessings in many ways. This month we are introducing a slightly different newsletter/blog to you that is designed to not only provide QuickBooks Tips & Tricks, but small business important information. We are planning to keep this newsletter in a smaller format, with fewer major topics. In this way we hope it will only take you a few minutes to review the information.Can’t Wait Until 2020 Ends !
As we enter into the final calendar quarter on 2020, many are looking forward to this year ending. At least we didn't get hit with the "Killer Hornets" (knocking on wood) and hopefully we can still count our blessings in many ways. This month we are introducing a slightly different newsletter/blog to you that is designed to not only provide QuickBooks Tips & Tricks, but small business important information. We are planning to keep this newsletter in a smaller format, with fewer major topics. In this way we hope it will only take you a few minutes to review the information.Can It Get Any Crazier ?!
If you have never experienced the loss or the sabotage of your data ... consider yourself lucky. It is not worth the risk of the loss of your data compared to cost of preventing it from happening. But what are your options ?Is The Risk Really Worth It ?
If you have never experienced the loss or the sabotage of your data ... consider yourself lucky. It is not worth the risk of the loss of your data compared to cost of preventing it from happening. But what are your options ?S-Corp Officer Medical Insurance
If your company is a S-Corp or files taxes as a S-Corp, you must handle medical premiums paid by the company for Officers with at least 2% stock ownership in a very specific way. We even find many CPAs and Accountants are not aware of this and how to setup properly in QuickBooks ...Handling Short Pays & Sales Tax Credits
If you are a collision repair facility you may be concerned that your data you generate with your estimating systems and management systems is being collected, aggregated and sold to many companies. "Big Data" is among us, and it is used often against our industry.Loans, Leases, and Depreciation/Amortization Mistakes
We hope your Holidays were filled with good times, and you are ready for a great new year to take off.Distributing Complex Bills in QuickBooks (Part 1)
When analyzing your financials it is very important that expenses are categorized correctly and expenses are assigned to the correct month. This isn't always that easy when some expenses are for different areas of the business and the amount of the expense is for more than the month it was paid. There are important processes to put in place to correct this.QuickBooks Payroll Options to Think About
If you are using QuickBooks, the most obvious selection is to use Intuit Payroll. There are three basic Intuit payroll options … Basic, Enhanced, and Full Service.The Enhanced is the most common option used by small businesses since it included the tax filing forms for State and Federal, where the Basic option does not. However, this means you are responsible to do the payroll using Intuit’s tax tables, pay your taxes on time, file all the returns, pay at least $400.00 – $500.00 each year for tax table usage plu per employee fees each pay period, and a required QuickBooks upgrade every third year.There are very good 3rd party Payroll Services that take the tax filing and report filing responsibilities and liabilities for you. This can free up valuable time and resources for you....