In a previous column, I highlighted new rules that allow nonitemizers to take 2020 deductions of as much as $300 for contributions to charities. Something else that I discussed in more detail was tax breaks for retirees who use IRA withdrawals to make deductible donations. To recap, long-standing rules require
QuickBooks is more than efficient in handling the daily accounting chores of small to mid-size businesses. Thanks to its multiple features, the users find the software extremely helpful in maintaining the online inventory, processing payrolls of the employees, filling out the tax forms, etc. With every update, QuickBooks seems to
The time is now for accountants to help their SMB clients get in front of increased business compliance considerations by implementing the right tax solution. By putting a thoughtful tax strategy and system in place, SMBs can mitigate underpayment and incorrect calculations, reduce overpayments, lost sales, potential penalties, and improve overall tax
Every tax season has its unique challenges that stress and overwhelm tax pros, but after more than a year of remote working during a global pandemic, many have reached their burnout point. Keeping up with changing regulations surrounding initiatives like the Paycheck Protection Program (or PPP loan) took extra time
Errors while updating QuickBooks Desktop are quite common and can appear anytime in the application during various operations. QuickBooks Update error can also affect the QuickBooks Desktop features like payroll, and once you encounter any of such update errors, the application won’t allow you to download or install any updates.
The past year has been a wild ride for most firms. Some have done exceptionally well, while others have struggled to hold onto clients and develop new business. Without travel, in-person networking and other traditional business development activities, firms have had to pivot to video conferencing, social media and other
The hunger for counsel among small business clients presents accountants with the opportunity to advise them in a variety of nontraditional areas such as HR. In fact, an ADPRI survey from March 2019 revealed that 62 perrcent of business owners want to receive HR & talent management insights from their accountant. Accountants and
Get the financial education you need to run your business more efficiently. Free Book Preview Money-Smart Solopreneur This book gives you the essential guide for easy-to-follow tips and strategies to create more financial success. April 27, 2021 2 min read Disclosure: Our goal is to feature products and services that
While personal and corporate income tax tends to receive most of the media attention, it’s important to remember that gift and estate taxes can also have a profound impact on an individual’s long-range financial planning. Upon performing a valuation of shares of a closely held entity for gift and estate tax
Take the stress out of managing your business’s bookkeeping, accounting, and tax prep. Free Book Preview Money-Smart Solopreneur This book gives you the essential guide for easy-to-follow tips and strategies to create more financial success. April 26, 2021 2 min read Disclosure: Our goal is to feature products and services