Posted on January 30, 2020
by
Debra Sears
QuickBooks has long been the go-to financial reporting and accounting solution for small-to-mid-size businesses. However, as these companies grow and take on more complex organizational structures, they may find it challenging to combine the financial data and analytics of multiple entities. Rather than continuing to operate with sub-par data or investing significant dollars into robust […]
Posted on January 29, 2020
by
Lewis Taub
The IRS updated the standard mileage rates that taxpayers may use to substantiate the costs they incur, and may be reimbursed by their employers, when they use their personal cars, vans or trucks for business purposes. These are the rates taxpayers will use beginning on Jan. 1, 2020, for the tax returns they will file […]
The IRS recently updated the daily rates that employers may use to reimburse their employees for the ordinary and necessary expenses incurred when traveling for business purposes, including the costs that workers pay out of their own pockets for lodging, meals and entertainment, rental cars and car-share services. In general, companies have two options when […]
Posted on January 16, 2020
by
Rick Bazzani
The 2020 tax season officially begins on January 27, when the IRS will begin accepting and processing individuals’ electronically filed tax returns for 2019. With the federal filing deadline on Wednesday, April 15, taxpayers have just two-and-a-half months to gather important documents, meet with their tax advisors and pay any outstanding tax liabilities from 2019. […]
Posted on January 14, 2020
by
Jeffrey Mutnik
Two of the easiest steps you can take to protect yourself from identity theft, cyberthreats and loss of personal information and/or money is to 1) use strong passwords and 2) rely on multi-factor authentication when logging into their online accounts. With the start of the 2020 tax season and the proliferation of scams targeting taxpayers […]
Posted on January 07, 2020
by
Adam Slavin
The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) was signed into law at the end of December to help more Americans prepare and plan for greater financial security during their retirement years. As the average life span increases, people need to save more of their income during their working years to improve […]
Posted on December 30, 2019
by
Jack Winter
Businesses have until January 31, 2020, to file employee wage statements and non-employee compensation forms with the federal government for tax year 2019. Failure to correctly and timely file this information may result in penalties and back wages and back taxes. The Forms to File Employers must provide IRS Forms W-2, Wage and Tax Statement, […]
Posted on December 27, 2019
by
Debra Sears
Forward-thinking businesses are embracing technology and the convenience of mobile apps to improve the efficiency of routine administrative tasks, including expense reporting. Not much has changed over the past decade in the way in which employees submit expense reports. Workers are responsible for tracking their expenditures, recording them as line-items on Excel spreadsheets and saving […]
For many small business owners, taxes are a once-a-year chore that requires them to dig through files of paper and pull together all of the documents required by their tax preparers to file their annual returns. Truth be told, maintaining tax compliance and minimizing one’s annual tax bill is a year-round process that demands constant […]
