Monthly Archives: May 2015

How Custom Fields Provide Better Business Insight

QuickBooks makes it possible for your business to create very detailed records for customers, vendors, employees, and items. In fact, you may find that you rarely make use of every field each contains. But you may also find that there are additional fields that you'd like to see in your predefined record formats. That's where…
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Relief for Certain Small Business Retirement Plans

Small businesses that have failed to timely file certain required retirement plan returns have until Tuesday, June 2 to take advantage of a special IRS penalty relief program. Launched June 2, 2014, the one-year temporary pilot program is designed to help small businesses with retirement plans that may have been unaware of the reporting requirements…
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Seven Tips to Determine if Your Gift is Taxable

If you gave money or property to someone as a gift, you may wonder about the federal gift tax. Many gifts are not subject to the gift tax. Here are seven tax tips about gifts and the gift tax. 1. Nontaxable Gifts. The general rule is that any gift is a taxable gift. However, there…
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Eight Facts on Late Filing and Payment Penalties

April 15 is the annual deadline for most people to file their federal income tax return and pay any taxes they owe. If, for whatever reason, you missed the deadline you may be assessed penalties for both failing to file a tax return and for failing to pay taxes they owe by the deadline. Here…
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