From the category archives:
The IRS is pumping up the volume of audits of ‘rich’ taxpayers as part of a increased attempt to clamp down on tax evasion as well as so-called “legal tax avoidance.” According to the bureau’s latest update for the year ended Sept. 30, the percentage of taxpayers who were audited increased in every category of […]
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Taxpayers who made some energy efficient improvements to their home or purchased energy-efficient products last year may qualify for a tax credit this year. The IRS wants you to know about these six energy-related tax credits created or expanded by the American Recovery and Reinvestment Act of 2009. 1. Residential Energy Property Credit This tax credit […]
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Our own Catalyst QuickBooks cloud solution for small business accounting and bookkeeping and demo video may be reviewed here. Developed by Cloud 9 Real Time, we don’t know how we managed without for so long. As the economy commences to regrow and stabilize, companies are looking to rebuild. When posed with the prospects of either growing or being left […]
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TV star Charlie Sheen has kept his name in the limelight in recent times, and now that Warner has fired him from “Two and a Half Men” Michael Cohn at Accounting Today is musing what it would be like if Charlie took the job overseeing tax legislation and accounting standards. Here are some of Cohn’s […]
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Here’s a question that arises frequently during QuickBooks training: What do you do if you have an invoice that won’t be paid? And, you’ve decided to give up collection efforts? To qualify as a bad debt it must be unable to be collected, and all reasonable efforts have been exhausted to collect the amount owed. In […]
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If your business makes more income than it loses, then you have a real business. This makes you a business person. As such, you need to act accordingly, but how? Value of Time Time is your number one asset. However, other people will not respect it if you don’t. Any meeting with a prospect or […]
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As a small business owner, if you aren’t concerned about a tax audit, you should be. An IRS audit can be a troubling experience even if you’re completely prepared. Make no mistake, your IRS auditor won’t be especially charming. Due largely to a humongous budget deficit, the government is trying to close a $300 billion gap […]
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Quickbooks is increasingly seeing web interfaces for Blackberry and iPhone. The Intuit iPhone version has a very slick user-interface and allows easy, at-a-glance access to all of your financial information, entered into Quickbooks Online. Source: CNET At first blush, Intuit’s new app provides a simplistic view of things. Features included are looking at who owes you, […]
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Do you make a phone call to your bank to find out what your checking account balance is? Get on the right foot in your QuickBooks to make for increased accuracy from your first QuickBooks bank reconciliation onward. When you create a new QuickBooks data file, there are two ways of establishing the opening balance […]
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Keri Salls posted to her blog about cool research project published by Saras Sarasvathy, a Professor at the University of Virginia, captures distinctions between entrepreneurs & corporate executives in how they think. Source: Catalyst House Blog In her article in the new issue of Inc Magazine, Leigh Buchanan says, “Saras Sarasvathy concluded that master entrepreneurs rely […]
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April 15th. That’s SO last year! That’s the date we all have in our heads when it comes to taxes. This year’s tax deadline is April 18. Depending on your situation, there are many more dates of interest, so let’s take a look at how our friends at the IRS have their 2011 calendar marked: […]
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As a small business owner you have more far important things to do than to keep your own books. We can work with your CPA, CFO or other administrative personal to take care of your books for you, so you can get back to the job of running your business and generating profits! Each month […]
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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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Here’s a scenario for you: You’re the sole owner of a corporation and have no employees. Every once in a while you find yourself a bit short, so you let the company pay for some of your personal expenses, such as dry cleaning, spa treatments and house cleaning services. You’re not depriving a business partner […]
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A few hot QuickBooks tips from Gene Marks at The Marks Group is always welcomed by our Quick-Books ProAdvisor team. Tracking Referrals A client asked if there was an easy way to track referrals in QuickBooks and then pull a report which provides the referral source.
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Outsourcing computer applications to providers over the Web gives you flexibility and saves money, too. We recently made the jump to cloud computing. Catalyst clients now have the option of QuickBooks hosting on “the cloud” for improved access, speed, and security. See our video demo at Green-Paperless Solutions for your Bookkeeping-Accounting and your entire Small Business. […]
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Growing too fast can be dangerous to your company’s health. Use the Sustainable Growth Rate ratio in order to track your company’s financial ability to grow. What typically tops the list of worries of the chief executive officers of fast growing companies? Financing that growth, according to surveys over the years. This is because many companies […]
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The standard mileage rate for business use is increasing to 51¢ per mile for business travel after 2010. That’s a whole penny more than the rate for 2010! The mileage rate for moving expenses or medical care is 19¢ per mile. That’s a whole 2.5¢ increase from the 2010 rate. The mileage rate for charitable […]
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Among small business owners polled one of the worst jobs is calling customers and asking for past due payments. But, after all, cash flow is everything. You can not run your business without cash flow. Do you know your average receivables turn over ratio? Also known as the Average Receivables Collection Period. Below is a […]
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Its a flurry of debate about the new health care reform bill iand whether it bolds well for America and her small businesses. Regardless of your politics, the Affordable Care Act – a legislative gargantuan passed by Congress in March – is not going away unless a majority of states mutiny on it. A majority […]
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