by Liz Soria | Aug 9, 2013 | accounting, bookkeeping, finance, taxes, quickbooks bookkeeping
If you’re a business owner and your company lends you money, you’ll enter it in the books as a shareholder loan. However, if your return is audited, the IRS will scrutinize the loan to see whether it is really disguised wages or a dividend, taxable to you...
by Liz Soria | Jun 26, 2013 | accounting, bookkeeping, finance, taxes, quickbooks bookkeeping
QuickBooks Pro is the ideal business accounting software for small to mid-sized business owners. Here are 11 reasons why you should be using QuickBooks Pro. 1. You can save hours of time on bookkeeping and stressful paperwork because many of simple bookkeeping...
by Liz Soria | Jun 26, 2013 | accounting, bookkeeping, finance, taxes, quickbooks bookkeeping
The Cash Based accounting pertains to the management of individual’s personal monetary transactions. In this case, he keeps a track of the money he withdrew, deposited, gave or received from someone etc. This accounting comes to life when actual cash transactions take...
by Liz Soria | Jun 26, 2013 | accounting, bookkeeping, finance, taxes, quickbooks bookkeeping
Continuation of the Key terms for the Cash & Accrual Bases Accounting……. The Assets- the assets are generally those possessions of an individual that have a good market value or are quite valuable. Assets are mainly classified into three types- Current...
by Liz Soria | Jun 26, 2013 | accounting, bookkeeping, finance, taxes, quickbooks bookkeeping
Whether you are a new entrepreneur or a more experienced business owner, taking control of your finances can feel like a part-time job. Some simple tips can help you streamline your time, organize your finances and reduce the stress of business money matters. 1. Keep...
by Liz Soria | Jun 26, 2013 | accounting, bookkeeping, finance, taxes, quickbooks bookkeeping
It’s not too late to make these tax-saving moves. Before acting on our recommendations, be sure to gauge your 2012 income expectations. Moves you make this year may affect next year’s taxes, detailed in the table below. Game the Standard Deduction If your...