Maximizing Your Refund Power

Posted on 13. Mar, 2015 by in Bookkeeping Articles, Small Business Tips

One of the highlights of the year for many Americans is the receipt of a refund check from the IRS. Before you run out and book a big vacation with this new found wealth, here are some ideas to consider for your refund. Pay down credit card debt.Lenders are continually increasing fees and interest rates, […]

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The Benefits of a Sole Proprietor

Posted on 10. Mar, 2015 by in Bookkeeping Articles, Small Business Tips

In the eyes of the IRS, if you are a sole proprietor you have an audit target on you. This is because the audit rates on those who have a schedule C (sole proprietor) in their 1040 tax return are much higher than those who don’t. In addition, sole proprietors generally have more personal legal […]

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Spreadsheet Program Tips: Use Functions

Posted on 06. Mar, 2015 by in Bookkeeping Articles, MAC Tip, Small Business Tips, Windows Resources/Tips

Excel, Numbers and Sheets all share some of the function tasks allowing you to edit both text and numbers within their cells. To add numbers across a range of cells use =SUM(RANGE). To find the average of a range of numbers, =AVERAGE(RANGE). If you would like to round a number to two decimal places, =ROUND(CELL,2). Some functions you […]

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What You Need to Know About Health Care Reform

Posted on 17. Feb, 2015 by in Bookkeeping Articles, Tax Updates

Guest Post by Leslie Bennett, CPA Beginning in 2014, every US citizen and resident alien must have health insurance (minimum essential coverage). Failure to have insurance will result in a penalty (an additional tax) to be paid when filing the 2014 tax return. Certain individuals may be exempt from this requirement, such as income below […]

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Getting Organized for 2014 Tax Filing

Posted on 12. Feb, 2015 by in Bookkeeping Articles, Small Business Tips

If you have not already started, now is the time to start gathering your tax records for 2014 and taking steps to get your tax house in order for 2015. Here are some ideas to help you. Look for your tax forms. W-2s, 1099s, 1098s and the new 1095-A’s should have arrived in your mailbox […]

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Understanding the Meal and Entertainment Expense

Posted on 12. Feb, 2015 by in Bookkeeping Articles

You would think that the Meal and Entertainment expense item would be a pretty straightforward business expense but I can tell you there is a lot of confusion around this deduction and the complexity of the IRS code doesn’t make it any easier for professional tax preparers as well. The Entertainment Expense: There are many […]

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There is still time for Retirement Funding

Posted on 11. Feb, 2015 by in Uncategorized

Remember you have until you file your tax return to make a contribution to a Traditional IRA or Roth IRA for the 2014 tax year. The annual contribution limit is $5,500 or $6,500 (if you are age 50 or over).  Prior to making the contribution, if you (or your spouse) are an active participant in […]

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The One Question to Ask Each Day

Posted on 05. Feb, 2015 by in Bookkeeping Articles, CEO Tips

As a business owner, you’re likely torn in a hundred different directions every day. It can take up most of the work day just fighting fires, serving your customers, and answering employee’s questions. It’s super-easy to lose sight of what you can be doing to move your business forward the most. That’s when “the one […]

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Zenefits – Your Virtual HR Department

Posted on 15. Jan, 2015 by in CEO Tips, Small Business Tips, Website Resource

Zenefits gives you, your managers, and your employees a single place to manage all your HR — payroll, benefits, compliance, and more — all online, in one beautiful online dashboard. For example, hiring a new employee? Zenefits will Get the employee to sign their agreements online Collect employee’s personal, bank and tax information Add the […]

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Are Your Workers Contractors or Employees?

Posted on 13. Jan, 2015 by in Bookkeeping Articles, Small Business Tips, Tax Updates, VirtualConnections Newsletter

If you have workers in your business, you likely made a decision when you hired them as to whether they should be an employee or a contractor. If all you hire is employees, then you have nothing to worry about. But if you hire contractors, there may be some financial risk you may taking that […]

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