The IRS has released guidance that includes the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). The benefits of HSAs include: contributions are made on a pretax basis; funds can be withdrawn tax-free to pay for a variety of medical expenses, such as doctor visits, prescriptions, chiropractic care and long-term care insurance premiums; and [...]
When Do You Use Sales Receipts? Invoices? Statements? QuickBooks offers multiple types of sales forms that are appropriate for different situations. Here’s a look at when they’re used and how to create them. QuickBooks is very good at providing tools for creating the business forms you need. If you’ve already created records for your customers [...]
The COVID-19 pandemic and its aftermath have significantly affected our lives in many ways that are still playing out. For example, the pandemic has served as a reminder of how difficult an unexpected medical crisis may be to manage financially. It has also reinforced the importance of guarding against the risk of such crisis before [...]
How QuickBooks and Word Improve Customer Relationships The pandemic taught businesses a lot of things. One was the importance of staying in touch with customers. Hard to believe it was more than three years ago that many businesses had to shut down because of the COVID-19 pandemic. Others remained open, but tens of millions of [...]
If you’re a partner in a business, you may have encountered a situation that gave you pause. In any given year, you may have been taxed on more partnership income than was distributed to you. The cause of this quirk of taxation lies in the way partnerships and partners are taxed. Unlike regular corporations, [...]
If you don’t have enough federal tax withheld from your paychecks and other payments, you may have to make estimated tax payments. This is the case if you have taxable income from sources such as interest, dividends, self-employment, capital gains or other income. Here are the applicable rules for paying estimated tax without triggering the [...]