Common Mistakes When Buying or Selling a Business

Posted on 31. Jul, 2017 by in Bookkeeping Articles, Small Business Tips

It is said with every major purchase there’s some kind of remorse either on the part of the buyer or the seller. This can be especially true when buying or selling a business. No matter which side of the negotiating table you sit on, there are some critical areas that could leave you with feelings […]

Continue Reading →

How Much Do You Need to Retire?

Posted on 24. Jul, 2017 by in Bookkeeping Articles, Small Business Tips

Most Americans simply don’t save enough for retirement. Nearly half of working-age households don’t have any retirement assets, according to the National Institute on Retirement Security. Of those working-age households close to retirement (age 55 and above) nearly two-thirds have less than one year’s worth of their annual salary in retirement savings. The goal: a […]

Continue Reading →

Five Home Office Deduction Mistakes

Posted on 17. Jul, 2017 by in Bookkeeping Articles, Small Business Tips

If you operate a business out of your home, you may be able to deduct a wide variety of expenses. These may include part of your rent or mortgage costs, insurance, utilities, repairs, maintenance, and cleaning costs related to the space you use. It is a tricky area of the tax code that’s full of […]

Continue Reading →

Zombie Billing: Automatic Payments Have a Life of Their Own

Posted on 10. Jul, 2017 by in Bookkeeping Articles, QuickBooks, Small Business Tips

The turn it on and forget it nature of automatic payments can create “zombie billing” cycles that go on without being reviewed or challenged, even after the product or service you pay for is no longer of value. Here are some ideas to keep this from happening to you: Create a list. Make a list […]

Continue Reading →

Donate Stock to Lower Your Tax Burden

Posted on 26. Jun, 2017 by in Bookkeeping Articles, Small Business Tips, Tax Updates

With U.S. equity valuations near historically high levels, now may be an opportune time to take advantage of the tax benefits of donating long-term appreciated stock to a qualified charity. Directly donating a winning stock you’ve held for at least one year provides greater tax benefits than writing a check to your favorite cause. Higher […]

Continue Reading →

Five Reasons to Incorporate Your Business

Posted on 19. Jun, 2017 by in Bookkeeping Articles, Small Business Tips

Most new businesses start with no thought about legal structure. In the eyes of the IRS, the default structure is a “sole proprietor,” in which your business profits are taxed on your personal tax return. This can serve you well to start, but there are several reasons you may want to consider incorporating as your […]

Continue Reading →

Home Buying in a Seller’s Market

Posted on 12. Jun, 2017 by in Bookkeeping Articles, Small Business Tips

It’s a tough time to buy a house. Nationwide U.S. house prices rose to their highest levels ever in November and have stayed elevated, according to the Case-Shiller Index tracking single-family home sales. Residential inventories also reached their lowest levels on record during the first three months of 2017, the real estate data site Trulia […]

Continue Reading →

Keep Your Audit Fears in Check

Posted on 05. Jun, 2017 by in Bookkeeping Articles, Services, Small Business Tips, Tax Updates

Getting audited by the IRS is no fun. Fortunately, your chances of being audited are probably lower than you think. A look at the latest IRS statistics for 2016 reveals some interesting, and reassuring, facts about the risk of an IRS audit. Audits are becoming less common. The number of individual tax returns the IRS […]

Continue Reading →

Do-It-Yourself Identity Theft Protection

Posted on 22. May, 2017 by in Bookkeeping Articles, Services, Small Business Tips

Identity theft is a growing problem in the United States, and dozens of companies offering various forms of identity theft protection have sprung up to combat it. Unfortunately, these services often do little to actually protect people’s identities, according to a study released by the U.S. Government Accountability Office (GAO).Both the GAO study and consumer […]

Continue Reading →

Six Tips for Working Beyond Retirement Age

Posted on 15. May, 2017 by in Bookkeeping Articles, Small Business Tips

Two-thirds of the Baby Boomer generation are now working or plan to work beyond age 65, according to a recent Transamerica Institute study. Some report they need to work because their savings declined during the financial crisis, while others say they choose to work because of the greater sense of purpose and engagement that working […]

Continue Reading →