Monthly Archives: November 2016

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28 11, 2016

3 Attributes Businesses Should Look For in a CPA

By | 2016-11-28T09:53:05+00:00 November 28th, 2016|Accounting, Blog, Business Advice|Comments Off on 3 Attributes Businesses Should Look For in a CPA

Before remote services were readily accessible online, businesses were limited to their local areas for bookkeeping and tax services. Sometimes this meant hiring in-house year round and/or going to a local CPA for yearly tax preparation. Times have changed since then, but businesses can use this to their advantage. We'll discuss this more as we [...]

17 11, 2016

What is Cloud Accounting and why you Need it as Part of Your Disaster Preparedness Plan

By | 2016-11-17T13:49:32+00:00 November 17th, 2016|Accounting, Blog|Comments Off on What is Cloud Accounting and why you Need it as Part of Your Disaster Preparedness Plan

  The effects of a disaster are especially noticed by small business owners, who may struggle keeping their doors open after a fire or flood. In fact, the U.S. Department of Labor estimates that 40 percent of all businesses affected by a disaster never reopen their doors. A good number of the remaining 60 percent [...]

10 11, 2016

How Outsourcing Accounts Payable/Receivable Saves Businesses Time and Money

By | 2016-11-10T15:16:17+00:00 November 10th, 2016|Accounting, Blog|Comments Off on How Outsourcing Accounts Payable/Receivable Saves Businesses Time and Money

Not all businesses have the same needs when it comes to AP/AR, yet all have the opportunity to streamline these processes to save time and money. Innovative cloud technology is giving businesses (of all sizes) the ability to simplify these processes; outsourcing professional accounting services optimizes these technologies, making them work for each unique business. [...]

4 11, 2016

How Outsourced Accounts Payable and Receivable Saves you Time & Money During the Holidays

By | 2016-11-04T09:28:09+00:00 November 4th, 2016|Accounting, Blog|Comments Off on How Outsourced Accounts Payable and Receivable Saves you Time & Money During the Holidays

Not only can your personal life get busy this time of year, but running a business can also become more hectic. Many people struggle more than they need to, simply because they do not know how outsourcing accounts payable and receivable saves you time & moneyduring the holidays. Perhaps you have never took time to [...]

2 11, 2016

Seniors Beware, Affordable Care Act Will Be Cutting Your Medical Deductions

By | 2016-11-02T13:56:21+00:00 November 2nd, 2016|Blog, Financial, Monthly GAB|Comments Off on Seniors Beware, Affordable Care Act Will Be Cutting Your Medical Deductions

When an individual itemizes deductions, one of those deductions is the cost of medical and dental expenses, including health insurance premiums. However, the medical expense deduction has been historically limited to the amount that exceeds 7.5% of a taxpayer’s adjusted gross income (AGI). With passage of the Affordable Care Act, commonly referred to as Obamacare, [...]

2 11, 2016

So You Want to Deduct Your Work Clothes?

By | 2016-11-02T12:42:16+00:00 November 2nd, 2016|Blog, Monthly GAB, new business owner, Small Business GAB, The Tax GAB|Comments Off on So You Want to Deduct Your Work Clothes?

A frequent question that arises is: Can I deduct the cost of my work clothing on my tax return? The answer to that question is “maybe.” The IRS provides the following guidelines for when expenses for work clothes are deductible: 1) They are worn as a condition of employment, AND 2) The clothing is not [...]

2 11, 2016

Who Claims the Kids? You or Your Ex-Spouse?

By | 2016-11-02T12:32:02+00:00 November 2nd, 2016|Blog, Financial, Monthly GAB, Tax, The Tax GAB|Comments Off on Who Claims the Kids? You or Your Ex-Spouse?

If you are a divorced or separated parent with children, a commonly encountered but often-misunderstood issue is who claims the child or children for tax purposes. This is sometimes a hotly disputed issue between parents; however, tax law includes some very specific but complicated rules about who profits from the child-related tax benefits. At issue [...]