Monthly Archives: October 2016

What Are Payroll Items in QuickBooks?

Are you considering processing your own payroll in QuickBooks? Whether you're moving from a payroll service or getting ready to pay your first employee, you're taking on a complex set of tasks that requires a great deal of setup and absolute precision. But the reward is complete control over your compensation records and transactions, and…
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Tax Tips for Reporting Gambling Income and Losses

Whether you play the lottery, roll the dice, play cards, or bet on the ponies, all of your gambling winnings are taxable and must be reported on your tax return. If you gamble, these tax tips can help you at tax time next year: Here's what you need to know about figuring gambling income and…
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Tax Tips for Hobbies that Earn Income

Millions of people enjoy hobbies such as stamp or coin collecting, craft making, and horse breeding, but the IRS may also consider them a source of income. As such, if you engage in a hobby that provides a source of income, you must report that income on your tax return; however, taxpayers (especially business owners)…
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Apps for Tracking Business Mileage

Keeping good records is essential for every business owner no matter how small. But whether it's keeping track of mileage, documenting expenses, or separating personal from business use, keeping up with paperwork is a seemingly never ending job. No matter how good your intentions are in January, the chances are good that by summer that…
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