Need Help?

Get in touch with us and we’ll be happy to help!

 

Tips & Tricks

Your business likely qualifies for the Small Business Health Care Tax Credit if your employees number less than 25, and each of their employment status is full-time or similar status.

How the Small Business Health Care Credit Impacts Your Business’s Taxes

Tax credits are harder to come by with the passage of new tax reform laws bringing new eligibility requirements. Especially with how quickly these came about, it’s understandably overwhelming for individual taxpayers; and more likely overwhelming for business owners, like yourself. Read further to see how you can take advantage of health care related tax credits.

the irs has given taxpayers many tools and resources - in the event of identity theft

Tax Penalty Relief from the IRS? [How You Qualify]

The estimated tax penalty can be waived for you, if your 2018 federal income tax withholding and estimated tax payments fall short of your total tax liability for the year; however, there is a catch: its is only waived, if you paid at least 85 percent of total tax liability during the year through federal income tax withholding, quarterly estimated tax payments or a combination of the two.

Typically, you must pay 90 percent to avoid a penalty.The waiver computation will be reflected in a revised Form 2210, Underpayment of Estimated Tax by Individuals, Estates and Trusts, and instructions.

What Are Opportunity Zones? Opportunity Zones can deliver significant tax savings on medium- to long-term investments in economically disadvantaged communities. This new tax incentive pertains to both the capital gains invested initially through a qualified opportunity fund, as well as capital gains earned for the investor from businesses or projects in a zone.

5 Facts About the Opportunity Zone Tax [PLUS] How to Qualify

Providing tax benefits to investors who invest eligible capital into distressed communities throughout the U.S. and its possessions, Qualified Opportunity Zones (QOZs) were created under the Tax Cuts and Jobs Act of 2017 to spur economic development and job creation. If you’re considering investing in a QOZ, read on to learn the facts you need to know about this tax incentive.

Why am I Having QuickBooks Performance Issues? [SOLVED]

Is Using the Same QuickBooks Data File for Long Time Causing My Performance Issues?

There’s more than one approach to how long you use the same QuickBooks company file. You can create a new file each fiscal year, or whenever you upgrade QuickBooks Desktop. Other users prefer using the same file as long as possible. Which approach works best depends on your preferences, and the way your business uses QuickBooks. While entering a lower volume of transactions into QuickBooks helps you use the same file longer, there are possible situations where you need a new QuickBooks data file.

tax information for tax year 2019 has been updated

7 Common Small Business Tax Myths

The complexity of the tax code generates a lot of folklore and misinformation that could lead to costly mistakes such as penalties for failing to file on time or, on the flip side, not taking advantage of deductions you are legally entitled to take and giving the IRS more money than you need to. With this in mind, let’s take a look at seven common small business tax myths.

These days, some of us find ourselves updating multiple calendars. There's the Outlook calendar or other web-based solution for scheduling and task management. Or, maybe a smartphone app to track a "to-do" on the road with a paper calendar as backup. But where do you keep track of your everyday financial tasks? Including these in your scheduling calendars and/or task lists will make for very crowded screens, not to mention how inconvenient it can be to keep switching between applications. Consider adding one more tracking tool: the QuickBooks Calendar.

QuickBooks Calendar – How It Helps Your Business

These days, some of us find ourselves updating multiple calendars. There’s the Outlook calendar or other web-based solution for scheduling and task management. Or, maybe a smartphone app to track a “to-do” on the road with a paper calendar as backup. But where do you keep track of your everyday financial tasks? Including these in your scheduling calendars and/or task lists will make for very crowded screens, not to mention how inconvenient it can be to keep switching between applications. Consider adding one more tracking tool: the QuickBooks Calendar.

banking reconciliations in quickbooks desktop can be undone, as long as it finds previous reconciles having been completed. If not, then it will flag there weren't any previous reconciliations to be found. As always make a backup of your quickbooks company file before doing any reconciliation or unreconciliation.

How to undo a previous reconcile in QuickBooks Desktop (unreconcile)

Sometimes you’ll find that your balance in QuickBooks does not match your bank statement after a monthly reconciliation (you are doing your reconciliations monthly, right?) and that you need to undo your previous reconciliation to get to the bottom of things. Prior to undoing a reconcile, we recommend a backup AND printing out your previous reconciliation reports, just in case you need them for historical data. To print these reports, we want to open Banking>Reconcile>locate discrepancies>previous reports. We suggest printing out the detailed and the summary, as you might need both.

Still Have Questions? We’re Here to Help.

Talk with an Expert