Category: Accounting
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Adjusting payroll taxes for 2018
Once all the political commotion over tax reform settles, what most people care about is “Is my paycheck going up or down?” The problem is complicated by politicians promising a big tax cut on the television news and through social media channels while accountants warn that some people will likely pay more. The end result…
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The Paperless Office
I began the move toward a paperless office more than 20 years ago. Back then I operated a 5 person inter-discipline office with technology dominated by cables running from one machine to another. I was the the firm owner as well as the ‘technology guy’ by virtue of my early adoption of PC technologies1. By…
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Facebook Live: “30 Minutes to Faster, Easier, Cheaper Small Business Accounting”
Look for online announcements of upcoming presentations. I will be hosting a series of free, short, fast-paced online programs for small business owners, self-employed folks and part-time freelancers. The intent is to help us prepare to save time and money on tax accounting in 2018. It will be Facebook Live presentation with the ability to…
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Tax preparers consider expanding small business services
Now more than ever before, tax preparers are considering expanding their practice into small business services. We expect the number of self-employed people will continue to rise. They require assistance with a wider range of business support services than traditional individual tax clients. The market for these services is evolving at a rapid pace. Integrated…
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Business Planning for 2018
As we begin this month of December 2017, it now seems clear that business taxes will be substantially different and more complicated in 2018. We can also be safe in saying that, for most businesses, nothing else will have as much impact on the net financial results of the business as this change in tax…
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Why Use QuickBooks Online?
Occasionally I am asked why I use and endorse QuickBooks Online small business accounting platform. There are at least six ways to answer that question: Market share. QuickBooks. is the #1 most popular platform used by 4.3 million small businesses. There is strength in numbers. Support resources and integrations are limitless. It isn’t what you…
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Unsuccessful QuickBooks promotion; lesson learned
About this time last year I tried an impromptu business promotion that was not successful as planned. Intuit, the publisher of QuickBooks accounting software, offered me a promotion of 5 subscriptions with a discounted price of QuickBooks accounts. At that time, the price was an unprecedented low amount ($5 vs. the usual $20+). I offered…
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QuickBooks “Pay Bills Online” (New feature)
I just set up and tested the internal “Pay Bills Online” feature of QuickBooks. Actually this is an integration between QuickBooks and Bill.com. The benefit is that bills can be paid without leaving the accounting software. (Prior to this I had to pay bills on my bank web site and then enter the payments manually…
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Rant against desktop accounting
I’ve been critical of accountants and business managers who have not adapted to online hosted accounting platforms. Their logic in using local desktop-based accounting software programs just does not make sense to me because almost all the sources of accounting data are already hosted online and almost all the output of accounting data are already hosted online. Why…
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Effect of election on NJ small businesses
New Jersey is now the seventh state where Democrats control both the executive and legislative branches. What does that mean for us with small businesses here? This is more than just a local wall against trumpism. It directly translates to increased tension and a lack of coöperation between the federal and state government. The news…