by | Dec 11, 2012 | Accounting & Bookkeeping, Business Success Series, Current Affairs, Income Taxes, Tax Tip of The Week
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by | Nov 16, 2012 | Accounting & Bookkeeping, Business Success Series, Current Affairs, Income Taxes, Tax Tip of The Week
Now that the election is over, Congress is finally concentrating on the “fiscal cliff” and its “Taxmageddon” element. If they do nothing, a massive tax increase will hit every taxpayer and worker. It is doubtful that Congress will allow so many Americans...
by | Sep 29, 2012 | Accounting & Bookkeeping, QuickBooks
Set Up Users With Limited Permissions and Access Every day my staff and I fix client QuickBooks files that are filled with errors. Many of these are caused by the owner allowing their untrained employees access to all areas of QuickBooks. This can...
by | Aug 16, 2012 | Accounting & Bookkeeping, Income Taxes, Tax Tip of The Week
A reminder to employees about taking business expenses on Schedule A: Any expenses that an employer would have reimbursed are not deductible according to the Tax Court (Stidham, TC Summ. Op. 2012-61). In that case, a taxpayer listed business expenses such as overnight...
by | Jul 24, 2012 | Accounting & Bookkeeping, QuickBooks, Small Business Owners, Web/Tech
In my blog dated July 09, 2012 (http://bit.ly/LJAmHo), I answered a client question which asked if they could keep two sets of books—one set for tax returns, and one for management use only. My answer was of course. This led to a question about how to do this...
by | Jul 19, 2012 | Accounting & Bookkeeping, Current Affairs
Shipping and handling charges are taxable if the charges they are associated with the sale of taxable goods or service. To illustrate, let’s say you sell some furniture in the amount of $500 with a $40 delivery charge and collect sales tax on each sale. Because...
