Business services checklist

Posted Leave a commentPosted in Accounting, Small Business

While every small business has its own requirements for accounting services, this list compiles 20 of the most commonly requested help topics grouped in strategic groupings. Each contributes to overall success, but the needs typically vary over the life of a small business owner. The decision to perform each function internally, outsource or handle collaboratively […]

Butting heads on small business bookkeeping

Posted Leave a commentPosted in Accounting, Small Business

I had unfortunate occasion to butt heads with an old-school bookkeeper. She is top quality with decades of experience. She knows her debits and credits and trial balances inside and out. She was quick to tell me that the accounting systems I use are worthless. The thing is: the world has changed. Not always for […]

15 features to ensure success of bill payment outsourcing

Posted Leave a commentPosted in Accounting, Small Business

One of the best ways to use technology in your small business is to outsource bill payments. The time and expense savings that most can achieve puts this high on our list of recommended technologies. The simple fact is that a bill pay expert can do this more simply, reliably and at lower cost than […]

Five reasons that you don’t know about tax-free stocks

Posted Leave a commentPosted in Accounting, Small Business, Taxes

Our government taxes most kinds of income. The exceptions list of tax-free income is short. One of the least known sources of tax-free income is gains on qualified small business stock ownership. Gains on qualified small business stock is completely exempt from tax. So why haven’t you heard this before? Here are five good reasons: […]

Break down the tax filing process

Posted Leave a commentPosted in Accounting, Taxes

Any complex task is easier when broken down into small pieces. Tax filing is no different. While there are plenty of different options, we break it down and pull out the best methods. Ways to collect information: BEST: Cell phone scanner with tax organizer OK: Flatbed scanner batch documents ALTERNATE: Photos or papers Ways to […]

What’s up with QuickBooks?

Posted Leave a commentPosted in Accounting, QuckBooks

Intuit Corporation’s QuickBooks product is easily the most popular small business accounting platform in the nation. This popularity carries through to my law firm market niche where most use some type of QuickBooks platform to connect various components of financial management. Most of these users are converting from older desktop software to more modern hosted […]

Does Pennsylvania sales tax apply?

Posted Leave a commentPosted in Accounting, Pennsylvania, Small Business, Taxes

The best official publication for determining if sales and use tax applies is this “Retailer’s Information” guide from the Commonwealth. For help setting up sales tax in QuickBooks Online, just call for on site or remote setup help or for help setting up desktop version see this article by Charlie Russell.

QuickBooks Online for law firms

Posted Leave a commentPosted in Accounting, QuckBooks, Small Business

Intuit corporation will release record high earnings this week that surpass stock market analysts’ expectations. The driving force is the success of QuickBooks Online, a product used by almost 4 million small businesses. The number of businesses subscribing to QuickBooks Online is growing quickly as businesses move from the desktop version, just as management predicted. […]

Employee vs contractor; more misclassification risks

Posted Leave a commentPosted in Accounting, payroll, Small Business

“Employee misclassification is a major issue. Employers who misclassify employees are failing to provide unemployment insurance and workers’ compensation. Those employers can also leave workers with large employment tax liabilities.“ This new article delivers information on even more risks. Correct handling of worker compensation is not so difficult or expensive. It doesn’t make sense to shortcut this […]