Here’s a key piece of information to know. Taxpayers almost always need to report payments from customers as income to the IRS when cash is received, … [Read more...] about Recording Customer Deposits in QuickBooks
Bookkeeping
Why Small Businesses Should Outsource Payroll
Winston Churchill, apparently quoting some unknown earlier writer, once said, “Democracy is the worst form of Government except for all those other … [Read more...] about Why Small Businesses Should Outsource Payroll
DIY QuickBooks Troubleshooting for A/R and A/P
Small businesses attempting to troubleshoot QuickBooks Accounts Receivable (A/R) and Accounts Payable (A/P) can often feel like the whole process … [Read more...] about DIY QuickBooks Troubleshooting for A/R and A/P
How to Record Revenue in QuickBooks
This short blog post explains how to record your business’ revenue in QuickBooks. I’ll explain when to use the Create Invoices feature versus the … [Read more...] about How to Record Revenue in QuickBooks
How to Record Expenses in QuickBooks
This short blog post explains how to record your business’ expenses in QuickBooks. I’ll explain when to use the Enter Bills command versus the … [Read more...] about How to Record Expenses in QuickBooks
California Payroll Tax Forms Prepared in Five Minutes
If you’re preparing the California payroll tax forms for a single shareholder-employee corporation, you can make the process pretty easy. In fact, … [Read more...] about California Payroll Tax Forms Prepared in Five Minutes
Avoiding State Payroll Taxes
The trick to keeping your payroll processing quick and simple is to minimize the busy work involved. In fact, I think what you do in a … [Read more...] about Avoiding State Payroll Taxes
Making Shareholder Distributions Look Reasonable to an IRS Agent
S corporation shareholder-employees definitely need to make sure their salaries look reasonable. That’s the key point you want to take away from the … [Read more...] about Making Shareholder Distributions Look Reasonable to an IRS Agent
Are You Losing Money By Using Sec. 179 Depreciation?
If you've been in business for long, you probably know about the Sec. 179 election you can use to save taxes. Though you typically can’t use Sec. … [Read more...] about Are You Losing Money By Using Sec. 179 Depreciation?
Partial Dispositions and the New Tangible Property Regulations
The new tangible property regulations in effect for 2014 and later years mostly frustrate tax accountants and mostly confuse small businesses and real … [Read more...] about Partial Dispositions and the New Tangible Property Regulations