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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2015 Health Care Savings (HSA) Account Limits

Posted on 08. Jan, 2015 by in Bookkeeping Articles, Small Business Tips

The savings limits for the ever-popular Health Savings Accounts (HSA) are set for 2015. The new limits are outlined here with current year amounts noted for comparison purposes. What is an HSA? An HSA is a tax advantaged savings account to pay for qualified health care costs. The account consists of wages contributed on a […]

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Do You Have a Revenue Plan for 2015?

Posted on 06. Jan, 2015 by in Bookkeeping Articles, Small Business Tips, VirtualConnections Newsletter

A great way to start the new year is to get clear on exactly how you can make your revenue goal number. A revenue plan is the perfect tool. You’ll need to be proficient in Excel, and if not, you can work with your accountant on this very important and enlightening spreadsheet.  Start by listing […]

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Planning for a Fabulous 2015

Posted on 31. Dec, 2014 by in Small Business Tips

The holiday month of December brings celebration as well as reflection for all the events that occurred in 2014.  It also gives us great hope for starting a fabulous 2015.  Here are three ideas to start 2015 with a bang. 1-    Find a focus for the year.  Instead of getting into the rut of making […]

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