For small business owners, bookkeeping can often feel like a daunting task. However, it is crucial for the success of your business to keep accurate financial records. Here are some bookkeeping tips for small businesses that will help you keep your finances organized and make tax time less stressful. In conclusion, bookkeeping is an essential…
As of the latest guidelines, the IRS rules regarding the deductibility of meals and entertainment expenses as business expenditures have been shaped significantly by the Tax Cuts and Jobs Act (TCJA) of 2017 and subsequent clarifications. Here are the key points: Meals: Entertainment: Recordkeeping: Proper documentation is essential to substantiate meal and entertainment expenses. Businesses…
We have transitioned to fixed rate pricing because we believe it is fairer and more transparent for our clients. This approach, inspired by the home services industry, ensures you know the total cost upfront, similar to when you hire a plumber, lawn care provider, mechanic, or appliance technician. With fixed rates, you can confidently plan…
Managing cash flow is vital for the success and sustainability of any business. Cash flow, the movement of cash in and out of a business, must be positive to ensure bills are paid, growth is financed, and solvency is maintained. This article outlines essential strategies for effective cash flow management and highlights common pitfalls to…
Payroll management is the heartbeat of any business, ensuring that employees are compensated accurately and on time. In today’s fast-paced world, leveraging efficient tools like QuickBooks Payroll can make all the difference. As a leading provider of modern accounting solutions, Sheldon Bookkeeping is here to share five indispensable tips for mastering QuickBooks Payroll: 1. Stay…
Bookkeeping isn’t just a chore; it’s the lifeblood of any business, big or small. It’s all about keeping tabs on every dime that comes and goes, jotting it down accurately, and making sure the numbers add up. Let’s chat about why bookkeeping rocks and how it can be your business’s BFF, helping you call the…
The QuickBooks Online Invoice is about to change. Here are some YouTube Videos that offer information about using the new invoice.
Folks, let’s talk plain and simple about taxes – the old saying holds true. It’s sure cheaper to keep out of trouble than digging yourself out of a tax hole with the IRS! It simple: if you miss the mark on tax obligations or mess up those returns, it’s like opening the floodgates for penalties…
The IRS has resumed sending LT38 collection letters again after the 2-year pandemic pause. If a small business gets one, this notice is not something to ignore or stuff away in a desk drawer. As of now, over 3.7 million US taxpayers are expected to receive the LT38. Automatically generated by the IRS Collection System,…
From the QuickBooks Online YouTube Channel: With QuickBooks Online Payroll, you can give your employees time off and track it in QuickBooks. Let’s learn how to set up time off in QuickBooks, how to account for it when you run payroll, how you can track how much time off employees have left, and how employees…
Here is a new video from QuickBooks to help Desktop users to become familiarized with QuickBooks Online. The introductory video offers some explanation of the differences between the two platforms.
Introduction Managing the financial aspects of a small business can be a daunting task, but with the right tools, it becomes more manageable. QuickBooks Online is a popular choice among small business owners for good reason. This cloud-based accounting software offers a wide range of features and benefits that can help streamline financial management, saving…
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