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…
Some real estate agents wait until it’s time to get their annual taxes filed, and then they scurry about trying to assemble a year’s worth of receipts, bills, and check stubs into some form of business financial records. Others plan ahead for tax day, by maintaining accurate, up-to-date financial records. Getting into business is easy…
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…
If You REALLY want to Start Over in QuickBooks Online Since it is the beginning of the new year, I thought I would share the method that will delete your data and allow you to start over in QuickBooks Online. WARNING: Make sure you REALLY want to start over. It will not work in all…
Here Comes the 1099-K The payments from online platforms such as Venmo, PayPal, Etsy, Uber and Facebook Marketplace are going to be reported to the IRS via a 1099-K. This change, brought on by a change in The American Rescue Plan Act of 2021, lowered the reporting threshold to $600. Business transactions of all kinds…
QuickBooks Online Can Handle Serialized Inventory If you need to keep track of the serial numbers of items in your inventory, QuickBooks Online can do that for you. Even though you may have been told you can’t do that in QuickBooks. Well, there is a solution. It is QuickBooks Online Advance and an App integration….
The IRS has a document entitled “Charitable Contributions” which can be downloaded from this website here. This publication explains what you are required to do as far as reporting contributions, and covers receipts that you are required to issue as a non-profit. The document is also linked in the footer area of this website.
QuickBooks offers a free budget template for Excel. Now that the Thanksgiving holiday is over, it is time to seriously plan next year’s budget. Small business owners should be taking a good look at their financial reports and should be preparing next year’s budgets. Use the free Excel template to develop a budget for your…
American Express Offers Savings on QuickBooks Plans American Express and QuickBooks offer a 30% discount for new subscriptions to celebrate Small Business Saturday. To qualify for the discount, new subscribers must use the links on this page. The offer applies to any version of QuickBooks Online. That includes Simple Start, Essentials, Plus, and Advanced. Payroll…
End of content
End of content