Who Are Your Customers? QuickBooks Online Can Tell You
Creating comprehensive, accurate customer profiles in QuickBooks Online takes time. So it’s tempting to enter just the minimum information required to process transactions. But there are numerous benefits to including every possible detail that QuickBooks Online allows, and making sure those details are correct. For example: You can do deeper, more insightful searches. Your reports […]
Tax records: What can you toss and what should you keep?
Generally, the IRS has three years to audit a tax return, from the later of the due date of the return or the date you file. You can also file an amended return within this time frame if you overlooked something. Here’s what you need to know about keeping financial records involved in your tax […]
Payable-on-Death Accounts: Beneficial Tools if Used Correctly
Payable-on-death (POD) accounts can be a quick, simple and inexpensive way to transfer assets outside of probate. They can be used for bank or credit union accounts, certificates of deposit and even brokerage accounts. Setting up such an account is as easy as providing the financial institution with a signed POD beneficiary designation form. Upon […]
4 Ways Corporate Business Owners Can Help Ensure Compensation is “Reasonable”
If you own a Ccorporation, you know there’s a tax advantage to taking money out as compensation rather than as dividends. The reason: A corporation can deduct the salaries and bonuses that it pays executives, but it can’t deduct dividend payments. Therefore, if funds are paid as dividends, they’re taxed twice, once to the corporation […]
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QuickBooks Tips
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