Category Archives: Accounting

On-line (Cloud) Computing for Small Business




More and more office applications are moving to cloud from spreadsheets and word processing programs to accounting systems. Some are even free of charge (Google Sheets and Wave Accounting) but others are available for a subscription fee. For the small … Continue reading






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QuickBooks Online: A review from the CPA Practice Advisor




QuickBooks Online is a product more and more of my clients are using. It’s accounting in the “cloud” which allows you to access your accounting records from anywhere you can access the internet. You can give your accountant access to … Continue reading






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Year End Checklist for businesses




Closing Your Books As you are cleaning up your accounting records for year-end, here are some steps you can take now to make tax-time easier: Verify that you have W-9 forms for each of your independent contractors or at least … Continue reading






Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, Accounting, IRS, Michigan Taxes, QuickBooks, Small Business, Tax filing due dates | Comments Off on Year End Checklist for businesses

Deducting business expenses… what is deductible?




Deducting Business Expenses Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business is operated to make a profit. What Can I Deduct? To be deductible, a business expense must … Continue reading






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Why to keep good records… the IRS’s answer




Everyone in business must keep records. ¬†Keeping good records is very important to your business.¬† Good records will help you do the following: Monitor the progress of your business Prepare your financial statements Identify source of receipts Keep track of … Continue reading






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Personal Finance Software Ratings




Keeping track of your personal finances is extremely important… especially these days. Here is a great review of the most popular software packages out there to help you manage your money.






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11 Tax Audit Red Flags




According to CNN Money, the following are 11 tax audit red flags to avoid: You have a sketchy tax preparer. Regardless of what your preparer may tell you, the taxpayer is legally responsible for for all the information on their … Continue reading






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Business Vehicle Deduction Reminders




From time to time, it’s nice to recap IRS requirements and ensure our record keeping methods are up to date in the event of IRS review. One of the areas often looked at by the IRS is the deduction of … Continue reading






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Start Getting Your 2013 Tax Return in Shape




“Procrastination is like a credit card: it’s a lot of fun until you get the bill.” ~ Christopher Parker We may have barely made it past the 2011 filing deadline, but taxpayers should already be doing a few quick checks … Continue reading






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Year End Checklist for Closing Your Books




As a business owner, it’s imperative to maintain accurate accounting records in order to substantiate all the items of income and expense on your tax return. A vital piece of the accounting process is the year end (or month end) … Continue reading






Posted in 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, Accounting, QuickBooks | Comments Off on Year End Checklist for Closing Your Books