What it costs you to have a home office is a legitimate and deductible expense on your taxes. Many small businesses operate out of a home office – it’s quite vogue to do so. The IRS is not your enemy. They provide much free information about how you can take advantage of this deduction. To…
After 20 years of being available, Intuit has decided to discontinue QuickBooks Desktop Point of Sale 19.0 on October 3, 2023, the era of the software comes to an end. There will be no future versions of QuickBooks Desktop Point-of-Sale software. Intuit also has decided it will no longer sell QuickBooks Desktop-Point-of-Sale to new customers….
Many clients seem to have multiple companies they own and operate. While working with these multi-company clients, they often want to place their various businesses into one QuickBooks Online subscription plan. “How can I do that?” is their question. And the simple answer is, “You can’t.” This is how it works: You can have multiple…
Home Office Tax Deduction for Real Estate Investors For real estate investors, home office tax deductions are similar to those for other self-employed individuals. However, there may be some additional deductions that are specific to real estate investors. Here are some common home office tax deductions that may apply to real estate investors: Depreciation: Real…
Some End of the Year Close the Books Advice Closing your QuickBooks at the end of a fiscal year involves several steps to ensure that your financial records are accurate and up-to-date. Here is a general procedure that you can follow: Backup your data: Before making any changes to your QuickBooks file, it’s important to…
Sales Tax Made Easy QuickBooks Online will now automatically handle the sales tax calculations for you on your invoices and receipts for easy and accurate filings. And, QuickBooks Online also lets you know when your sales tax payment is due, helping you to file on time and avoid any extra fees, penalties, or costs. The…
Now available for free from Sheldon Bookkeeping: a Chart of Accounts for Real Estate Agents. This Chart (COA) is compatible with all versions of QuickBooks Online. It is for the smaller real estate agent business, as it does not include categories for employees. It does include accounts to categorize different sources of income as well…
If you did not yet issue the required 1099s you still have time, but time is running out. The deadline is January 31 – which is less than two weeks away. It is clearly time to make this a top priority in your busy schedule. Not convinced you need to do this now? Here are…
Intuit has expanded the availability of the QuickBooks Business Network to millions of small and mid-market businesses in the United States By doing so, Intui has created one of the largest business-to-business (B2B) networks that will accelerate and automate B2B payments. It will also improve cash flow. “With the QuickBooks Business Network, we’re innovating to…
Mary Your Calendar Here are two important tax dates for 2023 to keep in mind. The first is January 23. That’s the start of the tax season, and the first day the Internal Revenue Service will accept tax returns in 2023 for the tax year 2022. The second date announced by the IRS is April…
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