Category Archives: QuickBooks

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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Most Common Bookkeeping Mistakes




1. USING THE WRONG ACCOUNTING METHOD There are two main business accounting methods: cash and accrual. Cash accounting is the simpler method because it’s based on the actual flow of cash in and out of a business. The cash method … 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






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Common Small Business Mistakes




According to the U.S. Small Business Administration (SBA), a small business is one that employs fewer than 500 employees, a definition that applies to a wide swath of companies. In fact, the SBA says that small businesses account for 99.7% … Continue reading






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Compiled Financial Statements




The most frequent use of a compiled financial statement by a small business is to obtain bank financing or comply with loan covenants. But what is a compiled financial statement and how is it different than an audit? Difference Between … Continue reading






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Money 101




From budgeting to investing. From buying a home to retirement. From buying insurance to estate planning. Find help here.






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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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Converting your home to a rental property




I find that more and more clients are converting their personal residences to rental properties for a variety of reasons. This has a variety of different tax implications some of which, are explained in this article.






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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