Whether you sell products or services, you may need to create estimates in QuickBooks Online. Here’s how it’s done. It would be nice if you could just instantly invoice every sale. But sometimes your customers need to know what a particular purchase will cost before they make the decision to buy. So you need to […]
Why You Need Year – Round Tax Planning…
…and tips on how to do it. The IRS may have granted us a reprieve for filing our income taxes this year, but we hope you’re well into your preparation for 2020 income taxes – or finished with them. Tax planning shouldn’t be a task on your to-do list every April. It should start January […]
Which Benefits Should You Offer Your Employees?
In a recent study, 77% of workers said that the benefits package an employer offers is extremely or very important in their decision to accept or reject a job.* If benefits are that important to your employees, they are critical to your bottom line. You know that attracting and retaining top-notch employees generally translates into […]
Crowdfunding — Exploring the Tax Implications
Crowdfunding — or funding a project through the online contributions of many different backers — is becoming increasingly popular. If you are considering raising crowdfunding revenue or contributing to a crowdfunding campaign, you will need to address the many tax issues that can arise. Background While crowdfunding was initially used by artists and others to […]
PPP Loan Forgiveness in 2021
REFRESHER: What is the Paycheck Protection Program? The Paycheck Protection Program (PPP) is a Small Business Association (SBA)-backed loan to help businesses retain employees during the Coronavirus (COVID-19) pandemic enacted under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Funds can be used for payroll expenses and benefits and some non-payroll related expenses […]
Worker Classification: Pay Attention
It isn’t easy deciding whether a worker should be treated as an employee or an independent contractor. But the IRS looks at the distinction closely. Tax Obligations For an employee, a business generally must withhold income and FICA (Social Security and Medicare) taxes from the employee’s pay and remit those taxes to the government. Additionally, […]