2020 has been a rough year for everyone. We hope you’re staying healthy, and we wish you the best in 2021. If you’re new to QuickBooks, here are a few quick-start activities to get the New Year started out right.

By | December 1st, 2020|Accounting and Auditing, Business, QuickBooks Tips, Uncategorized|

QuickBooks can be overwhelming when you first start using it. Here are five ways to familiarize yourself with some of its features to get you up and running in no time. Tackling any new piece of software can be daunting. Add a complex process like accounting to the mix, like QuickBooks does, and you may [...]

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Are you struggling to find the right sale prices for your products? Price Levels give you flexibility. We can help you set them up.

By | November 30th, 2020|Accounting and Auditing, Business, QuickBooks Tips, Uncategorized|

QuickBooks allows you to create Price Levels that you can assign to customers and jobs and to individual items. You already know that when you create a product or service record in QuickBooks, you must assign a sale price to it. But did you know that QuickBooks gives you a great deal of flexibility when [...]

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DO YOU KNOW THE “HIDDEN” ADVANTAGE OF HSAs?

By | November 23rd, 2020|Accounting and Auditing, Business, Taxation, Uncategorized|

A Health Savings Account (HSA) coupled with a high-deductible health plan can be a powerful tool for funding medical expenses on a tax-advantaged basis.  For 2020, individuals with self-only coverage can make up to $3,550 in tax-deductible contributions to an HSA, while those with family coverage can contribute up to $7,100.  These limits are increased [...]

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CATCHING UP ON CATCH-UP CONTRIBUTIONS

By | November 16th, 2020|Accounting and Auditing, Estate planning, Retirement, Taxation|

When it comes to retirement planning, many people tend to focus on two things: opening a retirement savings account and then eventually drawing funds from it.  However, there are other important aspects to truly doing everything you can to grow your nest egg. One of them is celebrating your 50th birthday.  This is because those [...]

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THE TAX IMPACT OF BUSINESS PROPERTY REMEDIATION

By | November 9th, 2020|Accounting and Auditing, Business, Taxation|

If your company faces the need to “remediate” or clean up environmental contamination, the money you spend can be tax –deductible as ordinary and necessary business expenses.  Unfortunately, every type of environmental cleanup expense cannot be currently deducted – some cleanup costs must be capitalized (spread over multiple years for tax purposes). Of course, to [...]

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ABLE ACCOUNTS HELP THOSE WITH DISABILITIES

By | November 2nd, 2020|Accounting and Auditing, Taxation, Uncategorized|

There’s a tax-advantaged way for people to save for the needs of family members with disabilities – without having them lose eligibility for government benefits to which they’re entitled.  It can be done through an Achieving a Better Life Experience (ABLE) account, which is a tax-free account that can be used for a variety of [...]

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