FreshBooks is a cloud-based accounting software that has made accounting solutions for small businesses relatively simple. With all its features and functionality FreshBooks has become an essential for every business. One such feature that you’ll see in this blog today is the FreshBooks Time Tracking Feature. You’ll discover the benefits
If a small business is victimized from inside by embezzlement, the business can generally deduct a theft loss on its tax return for the year of the loss. Under Section165 (a) of the Tax Code, a business may deduct losses sustained during the tax year and not compensated by insurance
Limited liability companies, or LLCs, are a lot like colanders, those perforated bowls used in cooking to strain off liquids. LLCs are pass-through entities that allow profits to “flow through” to the owners. Let’s recap how this works as we address the best ways for LLCs to set aside cash
QuickBooks Accounting Application is a software used worldwide for its user-friendly features and seamless functionality. It works for small-scale businesses enabling them to create customer invoices, payroll features, and much more. However, as it is a software and just like others, a variety of bugs or technical problems arise in
The child tax credit is unlike other tax benefits and practitioners should educate their clients now to avoid any unpleasant April 15 surprises. The enhanced credit is built on the original child tax credit found in IRC Sec. 24. When paired, the result is a more robust combined credit available
If you are a QuickBooks Online (QBO) user, you know that a foundational feature of QBO is connecting your financial institutions to QBO using bank feeds – usually checking, savings and credit card accounts. The recommended workflow is to pre-enter your transactions into QBO, and when the transactions arrive in
Have your business clients recently discovered they’re liable for communications tax? If so, they’re far from alone. Now, the question is: How will you stay compliant? The answer may not be as simple as you’d initially think. Communications tax can be very different from sales and use tax. And depending
Economic nexus laws are leaping across borders, real money is pouring into the virtual world, and sales tax holidays are causing consternation. Read about all this and more below: To begin with, if sales tax holidays weren’t challenging enough, counties and municipalities aren’t required to participate in Alabama’s sales tax
How to import data from FreshBooks to QuickBooks is a common search query entered by many accounting professionals. QuickBooks can cover a wide array of accounting features and is suitable for most businesses. On the other hand, FreshBooks is more desirable for entrepreneurs or small companies. Your need can sometimes
Because electronic confirmation solutions are available to help CPA firms detect fraud so much more effectively, they can also serve as a deterrent to would-be fraudsters hoping to circumvent the audit confirmation process. Just how pervasive is the problem of fraud in today’s economy? Studies indicate that, on average, a