Business Accounting Systems

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Entries from 2017-01-01 to 1 year

5 Year-End Tax Tips

The clock is ticking down to 2018 … but you still have a few weeks left to make some last-minute tax moves. Take a look at these five tips and save a little more this year. Check the amount of 2017 tax you have prepaid through withholding …

The holidays: A time for mistletoe and … fraud?

It’s not surprising that identity thieves and con artists love the holidays. More shoppers, more deals and more buying motivation makes the season rife with opportunities to steal. But you don’t have to let the holiday spirit cloud your sh…

Keep Your Kids Occupied During the Upcoming Holiday Break Teach Them These 4 Smart Money Lessons

Personal finance is often learned through experience. Fortunately, you can give your kids a hand-up on their journey to becoming financially responsible adults. Preschoolers and teenagers obviously have different financial concerns and abi…

Savvy Generosity: Do it the right way

Giving on a yearly basis could trim both your estate and income taxes. First, there’s the annual exclusion for gifts. Currently, you can give $14,000 annually to any number of recipients without paying federal gift tax. Married couples can…

Here’s How to Stop Dreading Year-End Employee Reviews

It’s the time of year when you may be scheduling employee reviews. The employee knows he or she will hear about the good and the bad, and the supervisor will finally have to discuss those issues he or she has been avoiding all year. Usuall…

Conquer your financial clutter

Financial records are notorious for being messy. Bills, paycheck stubs, tax returns and bank statements have a way of getting tucked into random places. Luckily, there are a few pretty painless ways to organize your important documents. Pu…

Conquer your financial clutter

Financial records are notorious for being messy. Bills, paycheck stubs, tax returns and bank statements have a way of getting tucked into random places. Luckily, there are a few pretty painless ways to organize your important documents. Pu…

Tax Reform: What You Need to Know

There is now a ton of media chatter about the recently introduced federal tax reform package being passed around in Washington, D.C. While it’s still early in the process, here are some of the key elements of the current proposal. For indi…

Answers to Common Questions After You File Your Tax Return

Many taxpayers have questions after they file their tax returns. The IRS provides answers to many of them. These are a few of the most common. * How can I check the status of my refund? You can go online to check on your refund if it has b…

Considering Paying for Your Child’s College Education?

Should you pay for your child’s college education? Or should your child find the financing? There are compelling arguments for both sides, but ultimately, your family needs to do what’s best for your financial situation. Most families find…

How To Cut Car Maintenance Costs

Insurance, fuel, loan interest, maintenance, repairs, depreciation – all the expenses associated with owning and driving an automobile can take a huge bite out of your family budget. Some of these are sunk costs. Because the money is alrea…

Tips On Tip Reporting

If you are like millions of taxpayers who work in the service industry, you may receive tips. The tax code is clear; if you receive tips you must report them as income. Some employers have systems to make this easy, while others do not. He…

Do A Business Valuation When You’re Ready To Sell Your Company

Well before you’re ready to sell your company, you’ll want to determine its fair market value as a starting point for negotiations. Of course, obtaining a reasonably precise value for your business is often a complicated and time-consuming…

Four Tips For Building An Emergency Fund

Planning for business emergencies is like buying insurance: you pay into an account and hope you’ll never have to use it. But life happens. Equipment breaks down. Electrical problems occur. Employees leave. Having money in the bank to cove…

Get to Know These Tax-Saving Terms

As you begin to think about scheduling your midyear tax planning appointment, refresh your memory on the meanings of terms that can save you money. Here are three. Exclusion. Exclusions are items that would generally be included on your re…

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 to start, …