New Rates for 2023 Released The Internal Revenue Service Service has announced the new 2023 mileage rates. The optional 2023 standard mileage rate for business, medical, and other uses of an automobile is 65.5 cents per mile. This is a 3-cent increase from the 62.5-cent rate that was set during the second half of 2022….
When setting up QuickBooks Online, in the Chart of Accounts, it is important to set up a special account to handle your Tenant’s Security Deposits. You can name the account anything (I recommend using Tenant Security Deposits. The type of account is: other current liability. This is important. The reason a tenant’s security deposit is…
The Real Estate Accounting is launched.! Designed to work with QuickBooks Online, this specialized bookkeeping service is for: Some of the features of Real Estate Accounting include being able to determine the profitability of each project, sale, or property. For landlords, the program includes the accounting of keeping security deposits separated from operating expenses For…
I have just updated my Certified QuickBooks ProAdvisor listing. The new listing includes this About section: I help small businesses save time and improve profitability by optimizing their QuickBooks. You know how important it is that you know where your business stands. Without reliable data, you can’t make the best decisions, plan your future, or…
Todd and Julie Chrisley, stars of USA Network’s hit reality series Chrisley Knows Best, are going to Federal Prison. according to Deadline. Charged with defrauding banks out of $30 million dollars, their account, Todd Chisley has been sentenced to 12 years in Federal Prison, while his wife Chrisley received a seven-year sentence. Peter Tarantino, an accountant hired…
I have been working on a presentation, and it has made me think about the problems I have discovered too many small businesses and non-profits have in their day-to-day operations. Of course, I am looking at this from the standpoint of accounting. There are some rhetorical questions to be asked, and hopefully, they will help…
Yesterday, I attended a virtual training session conducted by Intuit where new features coming to QuickBooks Online were announced. It was part of their Product Release Update series. As a Certified QuickBooks ProAdvisor, it is always good to know what is coming and what will soon be available so I can help clients make adjustments…
Based on a blog post on the Intuit website, a whopping 80% of small USA businesses report that their accounting professional is helping them in the battle against inflation. Here is the question, and the answer: Has your accountant or bookkeeper helped your small business to limit the impact of inflation this year? “Nine out…
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