Federal Tax filing deadline extended!
The IRS and Treasury Department have announced a federal tax filing and payment deadline extension for individual filers. Individuals can now file and pay any balance due for their 2020 tax
Should The Business Owner Be On Payroll?
This depends on your business structure: If the company is a sole proprietorship or a partnership, there is no need to be on payroll. An LLC Owner would normally not
What’s The Difference Between an Employee and a Contractor?
An employee is someone who works for your business, and you pay them payroll and you pay payroll taxes on that money – about 10% employer payroll taxes on each
1099s are due by January 31st!
When you are paying an independent contractor (not an employee) and you paid them more than $600 in that calendar year, you are required to issue them a 1099 by
CARES Act Charitable Donations and Rollover
A lot of people have been asking me about the CARES Act and data about rollover for donations. Here is what I found so far: “Previously, deductible gifts to public
What’s the Difference Between Bookkeeping and Accounting?
They are related, both in the financial field, and there is overlap, which is why it gets confusing. Generally, an accountant has an accounting degree, and often they do taxes and
Should I Have a Bookkeeper Look at My Books if I Do My Own Bookkeeping?
Yes, absolutely. One-hundred percent. If you do your own books because you are not ready to hire a bookkeeper or because you like doing bookkeeping, it is still a good
Do Bookkeepers File Taxes?
Some bookkeepers file taxes. Some bookkeeping firms file taxes. On my team, I have a certified tax preparer who can do personal tax filings, LLC tax filings, and S-Corp tax filings. He
Do I Need to Own QuickBooks?
QuickBooks Online is a subscription service. If you start with the most inexpensive one, QuickBooks Simple Start, it costs about $25 a month. You own your information for as long
