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Year End Tasks




Soon it will be that time of year once again when most companies are closing their books. The company owners will either be partying or nursing their wounds. In any case, we as small business operators usually have some checking and tidying and decision making to do. Thanks goes to Universal Accounting School for this list – […]

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Okay, as a small business owner you’ve decided to become more responsible with maintaining your books and records… where do you start? Expert organizer Michelle Carley offers a tip sheet – BANK ACCOUNT STATEMENTS request a statement with a month-end cut-off date saves time when reconciling records with the bank statement every month fewer checks you […]

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In about 90 days everyone in the world will share something in common: We will all say good bye to 2011 and bring in the 2012 New Year. For many if not most, that means a party, and (new) unfulfilled New Year’s resolutions. This is seldom something most people need to plan and prepare for. […]

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If you’ve filed for an extension for reporting last year’s federal income tax, your deadline is quickly arriving. Here are some important resources to help you meet that deadline. Understanding that many small business operators are under pressure to meet the extensions they filed this past year, here is a six-week plan intended to guide […]

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The accounting firm Brown Smith Wallace has been counseling its business clients on ways to save money on their taxes by taking advantage of some government incentives. Accounting Today’s Michael Cohn talked with two of the firm’s accountants last week about the tips they give their clients. Cathy Goldsticker, a member of the tax services […]

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Business owners across the land gave a sigh of relief as an unpopular portion of the Healthcare Reform Act was repealed by the Senate two weeks ago.   Or was it? In a bi-partisan 81-17 vote, the so called 1099 requirement would have mandated that all businesses issue 1099’s to anyone, incorporated or otherwise, with […]

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The essential principle of year-end tax planning is to lump deductibles into this year and defer income until next year. Of course, that cannot work in all cases. The correct strategy for your business is dependent depends on many factors, including answers these issues: – Does your company account on a cash or accrual basis? […]

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