Category Archives: Small Business

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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New Method for Calculating the Home Office Deduction (Journal of Accountancy)




Very simply, the new method available for tax years 2013 and after, allows you to calculate your home office deduction by multiplying the square footage of your home office by $5 (max = 300 square feet or $1,500). The qualifications … Continue reading






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Lease versus Buy




It’s a question that you should ask every time you are deciding to buy a car or purchase a business asset of any significance… if you have the option to lease or to buy, that is. Often times the answer … Continue reading






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The Employer Mandate in the Affordable Care Act Delayed until 2015




A mandate in the Affordable Care Act, President Barack Obama‘s signature domestic law, will be put partially on hold until 2015. The mandate requires companies with at least 50 or more full-time employees to provide healthcare coverage or face penalties up to $3000 per worker. … Continue reading






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Tax planning ideas for 2013 from the AICPA




It’s never too early to be thinking about tax planning for 2013… in fact, the sooner the better. Here’s a link to the AICPA’s 2013 tax planning guide.






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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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USA Today: The importance of sending 1099s




If you don’t file 1099s for your contractors, you lose protections from the federal government. (Photo: USA TODAY illustration) STORY HIGHLIGHTS IRS is vigilant on misuse of contractor status Businesses incur no tax obligations for independent contractors But you have … 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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New Taxes in the Affordable Care Act (“Obama Care”)




Here are some of the new taxes you’re going to have to pay to pay for Obamacare: A 3.8% surtax on “investment income” when your adjusted gross income is more than $200,000 ($250,000 for joint-filers). What is “investment income?” Dividends, … Continue reading






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