News

Setting up Sales Taxes in QuickBooks, Part 1 Next to payroll, state sales taxes represent probably the most complex element of your accounting tasks. QuickBooks can help with the mechanics, but there is a lot you need to learn before you can start charging and paying them. Here is...

Solar Technology Tax Credits Still Available for 2019 Certain energy-efficient home improvements can cut your energy bills and save you money at tax time. While many of these tax credits expired at the end of 2016, tax credits for residential and non-business energy-efficient solar technologies do not expire until...

New Twist on the Social Security Number (SSN) Scam New variations of tax-related scams show up at regular intervals, the most recent one related to Social Security numbers. Don’t be fooled, however; it’s nothing more than a new twist on an old scam and yet another attempt to frighten...

Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast of the Semantics, a large language ocean. A small river named Duden flows by their place and supplies.

Business Expense Deductions for Meals, Entertainment As the end of year approaches, taxpayers are reminded that business expense deduction for meals and entertainment have changed due to tax law changes in the Tax Cuts and Jobs Act (TCJA). Until proposed regulations clarifying when business meal expenses are deductible and...

Seasonal Workers and the Healthcare Law Businesses often need to hire workers on a seasonal or part-time basis. For example, some businesses may need seasonal help for holidays, harvest seasons, commercial fishing, or sporting events. Whether you are getting paid or paying someone else, questions often arise over whether...

Tax Tips for Owners of Historic Buildings If you own a historic building you should know about a tax credit called the rehabilitation tax credit, which offers an incentive to renovate and restore old or historic buildings. Here are seven facts that building owners should know about this credit:...

Tax Treatment of Virtual Currency Transactions If you’ve invested in Bitcoin and decide to sell you need to consider the impact of virtual currency transactions on your taxes. Here’s what you should know: Background Prior to 2014, there was no IRS guidance and many people did not understand that...

Year-End Tax Planning Strategies for Businesses There are a number of end of year tax planning strategies that businesses can use to reduce their tax burden for 2019. Here are a few of them: Deferring Income Businesses using the cash method of accounting can defer income into 2020 by...

Year-End Tax Planning for Individuals With the end of the year fast approaching, now is the time to take a closer look at tax planning strategies you can use to minimize your tax liability for 2019. General Tax planning Strategies General tax planning strategies for individuals include postponing income...

Tax Due Dates for November 2019 Anytime Employers – Income Tax Withholding. Ask employees whose withholding allowances will be different in 2020 to fill out a new Form W-4. The 2020 revision of Form W-4 will be available on the IRS website by mid-December. November 12 Employees who work for...

Creating Statement Charges in QuickBooks Depending on what kind of business you have, you probably have a preferred way of billing customers. If they walk into your shop and present a credit card or cash, you create sales receipts. If they order off your website, they might receive an...