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Most people assume there are many tax deductions for W-2 employees, but federal rules actually limit the types of work-related expenses you can claim. As a W-2 employee, there is pretty much nothing deductible.The laws changed in 2018, and there were things that you...
Absolutely. And that is recommended. I am all about efficiency, simplicity, and saving the rain forest… When you hire someone remotely these days, you can have Zoom meetings, phone calls, Skype calls, and Google Meetings - anything you want - to feel like you know...
Recently, the PPP loans have been kind of “a big deal”, and have been one of the main questions asked of me, and I've been researching constantly. I have been in bookkeeping groups and accounting groups, and, honestly, the scene changes every single day.Originally, in...
That depends on your business tax structure. If you are a sole proprietor or an LLC, you don't have to pay payroll unless you start hiring people to work for you. In that case, you get an EIN (Employer ID Number) from the IRS and then pay them on the payroll.On the...
Business owners sometimes forget to deduct many business expenses. If you work from home for instance, and currently a lot of people do, you can take home-office deductions. A home office expense is calculated either by the number of rooms or by the square footage...
If you’re asking whether you should incorporate, understanding the LLC vs S corp benefits is essential before making a decision. That depends on where you are at with your business. If you just started a company, you don't need to worry about that, yet. If you have...
Bookkeeping is important because you really can't manage a company without tracking your finances. If you didn't know how much money was coming in or going out, you would never be able to make smart financial decisions. You also would never know how much to pay the...
Bookkeeping is essentially a very broad word that means “the tracking of everything that happens in your financial books.” Bookkeeping started when monks kept records in books a long time ago. Every time money came in, they entered the income in one account book, and...
How Hiring a Bookkeeper Helps Small Business Owners Make More Money Many small businesses choose to hire a QuickBooks bookkeeper to keep their financial records accurate, organized, and ready for tax reporting. Many small businesses choose to hire a QuickBooks...