This post is adopted from a knowledgebase article on the Intuit QuickBooks Community. It was last updated 2/6/2019. It is always smart to check there to see if any procedures have been modified.
Moving your file from QuickBooks Desktop to QuickBooks Online? Here'...
I cannot tell you how many times I’ve been jokingly (and sometimes not so jokingly) asked by a client if they could take a tax deduction for their dog; but I can tell you that I can count on it coming up at least once every tax season.
The question comes up from time-to-time where a client purchases a business suit and asks if they can claim it as a business deduction, citing this is their "uniform." The short answer is No, as you will read below.
No Deduction for Required Employer-brand Clothing:
SIMPLE accounts may accept rollovers from expanded list of retirement plans. In general, an employer with 100 or fewer employees that doesn't have a qualified plan can establish a “SIMPLE” (savings incentive match plan for employees) retirement plan, without having to...
Do you work at home or have a home-based business? If so, you should be aware that the IRS has created a simpler option for calculating the deduction for the business use of your home. The new option makes recordkeeping easier because, instead of maintaining records of...
Its official... Sage One is making headway in providing an affordable accounting solution to start up and small businesses. Additionally, Sage One is proving to be a promising alternative to QuickBooks Online. We recognize that many potential users will want to jump...
To Pay Taxes or To Not Pay Taxes... That is the Question
When you're 70 1/2 you MUST start withdrawing a percentage of your IRA set by the government from your investments called the RMD (Required Minimum Distribution)....
If you have a financial interest in or a signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, trust or other type of foreign financial account, you may be required to report this information to the IRS. Failur...
