Articles

Proactive tax planning is a strategy I strongly advocate for as a CPA, having observed many small business owners rely on outdated ‘reactive’ tax planning. This traditional approach involves monitoring sales and expenses throughout the year, and then using these figures to determine tax liabilities at year-end, often leading to missed opportunities. Reactive tax planning tends to be a passive process, where business owners only consider their tax situation when the filing deadline approaches. This can result in a scramble to gather documentation and make last-minute financial decisions, whi…

As a business owner, you shouldn’t be afraid of paying taxes. If you’re paying taxes, you’re making money. Yet, no one wants to pay more taxes more than they have to. Today, we’ll help you make an effort to lower your taxable income with a few easy tips. 1. The Answer Isn’t to Spend More Of course, you’d like to make as much money as possible, but you do have to keep an eye out on your AGI (Adjusted Gross Income). After all, there are tax brackets you need to be wary of. For example, you can easily avoid the additional 0.9% Medicare tax if your AGI doesn’t exceed $200,000 ($250,000 for join…

If you are a regular QuickBooks user, you may already have a standardized list of processes that you check off each time you use the software. However, what if you could be more efficient with the software and get even more work done? These 5 report methods are often overlooked, and may be a big help. Even if you are using some of these reports, you may find another one that will work just for you. Profit & Loss Summary Prev. Year Comparison Have you ever wondered just how far your business has grown in the last year? Many business managers look solely at their Profit & Loss Summary…

Learning how to use QuickBooks can be a daunting task for those who are not already acquainted with the system. However, we have tips that are for sure able to help get you through the software and guide you until you are comfortable to start navigating on your own. Below are 5 tips we believe will help you out during your first times with any QuickBooks software. Reconcile Your QuickBooks Accounts This is the number one figure that you must do when using QuickBooks, if not the most important out of them all. You have got to make sure that all your accounts are up to date, including your ba…

Managing payroll has never been more efficient, thanks to the power of mobile technology. With solutions like Intuit QuickBooks mobile payments, business owners can handle payroll tasks from anywhere using their phones. This innovative approach eliminates the constraints of being tied to a desk, making payroll management flexible and accessible even when you’re on the move. Whether you’re traveling for work or enjoying a well-deserved vacation, mobile payroll ensures your business runs smoothly. In this article, we’ll explore the advantages of using mobile payroll apps, how QuickBooks mobil…

In the ever-evolving world of business, efficiency and accuracy in financial management are paramount. QuickBooks stands as a beacon of reliability for businesses seeking to streamline their invoicing processes. Whether you’re a seasoned user or a newcomer to this robust accounting software, mastering the art of adding lines to your invoices can significantly enhance your billing accuracy and professionalism. In this comprehensive guide, we’ll walk you through a step-by-step process to adding lines to your invoices in QuickBooks seamlessly, ensuring you make the most of what QuickBooks has …

If you’re a novice to QuickBooks or the entire bookkeeping process, there are specific tasks that you need to learn. The following 10 beginning QuickBooks tips will help you stay on top of your finances and master your cash flow for future purchases. Make a List  of All of  Your Accounts To make sure all of your transactions are recorded you will need to reconcile all of your accounts. This is the  best way to know that all of your accounts are accurate and each transaction has been properly recorded. Once you have taken inventory of all of your accounts you can begin entering them into Qui…