Articles

If you’re running a nonprofit organization, managing finances can be challenging. One way to ensure financial stability is by hiring a CPA for nonprofit organizations. In this article, we’ll discuss why having a CPA is crucial for nonprofits and cover the key areas that nonprofits should focus on when working with a CPA. Whether you’re just starting out or looking to take your nonprofit to the next level, having a CPA can help you achieve your financial goals and ensure that your organization stays on the right track. Why A CPA for Nonprofit is for You Hiring a CPA for your nonprofit organiza…

Accounting software is a valuable tool for businesses and individuals alike, providing users with the ability to keep track of finances and budget accordingly. QuickBooks Online is one of the most well-known accounting software platforms available, but there are other excellent accounting softwares as well. This article will compare QuickBooks Online vs. alternate accounting softwares, discussing the advantages and disadvantages each platform has to offer. Advantages of QuickBooks Online vs. Other Software QuickBooks Online is a popular accounting software option for small to midsize business…

Are you prepping for the 2023 tax year? E-filing is your best bet – it’s faster, more efficient and can help sidestep a potential IRS backlog. Complicating matters this time around are guideline revisions on tax credits and new stipulations mandating reporting of business transactions through Venmo, PayPal or Cash App. If tackling self-employment income/online sales has you stumped, don’t hesitate to seek expert assistance for tax season 2023! Now that we’re settled into 2023, it’s time to start preparing for filing tax returns. Get ahead of the game now and make this upcoming season as stres…

Whether you are filing your taxes for the first time or have been doing so for years, it’s easy to feel overwhelmed. There are so many forms, so many numbers, and so many possible mistakes. Here are the pertinent details about a “second look” tax review. What Is A ‘Second Look’ Tax Return Review? A second look tax review indicates that a tax expert will examine your return after you’ve completed it. This is an excellent option if you want more assurance that your tax return is accurate and complete. When you use Lucia & Co. CPAs, they will check for math errors, wrong digits in numbers, l…

QuickBooks is a software program created by Intuit, a financial management service. It provides simple accounting and invoicing payroll services and tax preparation. QuickBooks is used as an integrated tool for businesses, non-profit organizations, contractors, and freelancers. This editorial will provide QuickBooks online tips for beginners for the smooth use of QuickBooks, which will help them manage their business quickly and efficiently. 1. Connect Your Bank & Credit Card Accounts Before using QuickBooks, connect your bank and credit card accounts. Once you set up a bank account in Qu…

Finance and accounting are critical functions for any business, small or large. But for small businesses, these functions can be incredibly challenging. Hiring a certified public accountant (CPA) is often a wise decision. Accounting and financial management are complex fields. Errors or oversights can easily jeopardize the financial health of a small business. With the right professional on your team, you can rest assured that your business’s finances are in good hands. Here are some reasons to consider hiring a CPA for your small business. We Can Save You Money When managing your…

Clients are the backbone of your business. They purchase your products, invest in your services, and provide valuable feedback on platforms like Google. Maintaining a good relationship and showing appreciation are crucial for your company’s reputation. One effective way to demonstrate your gratitude is through thoughtful gifts. Companies that go the extra mile not only thrive but can also see increased profits and expansion opportunities. But are these gestures tax-deductible? Client Gift Deductible Criteria for 2024 To ensure your client gifts are tax-deductible, follow these updated IRS gui…

Managing financial records is crucial for any company, no matter the size. You may think a CPA (Certified Public Accountant) isn’t necessary, but keeping accurate financial records is essential for success. Fortunately, there’s a solution tailored for small businesses. Lucia & Co. provides small business QuickBooks training, designed to help you manage finances and various other operational aspects with ease. We understand the importance of financial management. That’s why we strongly advocate for and offer QuickBooks training tailored for small businesses. What is QuickBooks? QuickBooks…

It’s tax season, and as your tax forms begin to pile into your mailbox it can seem overwhelming to process all these tax documents by yourself. At Lucia CPA, we want to make this a painless tax season for you. Today, we’d like to share with you our top 5 tax season tips to help you understand your taxes and get them filed on time. Get Organized, Stay Organized this Tax Season Businesses – As a business owner, you may already have a system in place to track your income and monthly expenses. We recommend our clients use QuickBooks Online, but there are alternative options like Excel or physical…

The Earned Income Tax Credit (EITC) is a significant financial boost for many Americans. It’s a critical tax break for low- and moderate-income workers. Understanding it can greatly reduce your tax bill. For some, it can even lead to a substantial refund. The EITC has evolved over the years. In 2024, it offers more benefits than ever before. This guide dives deep into what the EITC is and who qualifies for it. We will explore how to maximize your EITC benefits. The EITC can be complex, but with the right knowledge, it’s manageable. What is the Earned Income Tax Credit? The Earned Income Tax C…