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17 11, 2017

Top Tips You Need to Know to Enhance Cash Flow and Business

By | 2017-11-17T22:41:43+00:00 November 17th, 2017|Accounting, Blog, Business Advice, Financial, Monthly GAB, new business owner, Our Services, Small Business GAB, Starting a new business, time and money savers, upgrade your accounting|0 Comments

Cash flow is one of the factors in a business that gets overlooked the most, but it also happens to be one of the most important factors in a business. Cash flow maintenance is more than knowing how much money is being earned and spent, and it does not matter how close your business is [...]

17 11, 2017

Military Tax Breaks You Might Not Know About

By | 2017-11-17T22:36:34+00:00 November 17th, 2017|Blog, Financial, Monthly GAB, Tax, The Tax GAB, time and money savers|0 Comments

Military service members take many sacrifices and have special obligations in order to serve their country; naturally, their taxes are affected. There are a number of special tax breaks they are entitled to and this post will be to inform our service members of what exactly they entail. Residence or Domicile: Because there are times [...]

17 10, 2017

8 Ways to Help Save Money as a Startup

By | 2017-10-17T20:42:18+00:00 October 17th, 2017|Blog, Business Advice, Financial, For CPA's, Hiring, Monthly GAB, new business owner, New employees, Small Business GAB, Starting a new business, time and money savers|Comments Off on 8 Ways to Help Save Money as a Startup

One of the most exciting adventures in life is starting a new business. It opens a world of opportunity to extend helpful services and make life easier for those around us. However, in the beginning stages of building a business there are several unavoidable expenses but by following these 8 tips on increasing profits you [...]

4 07, 2017

Are You Ignoring the Household Employee Payroll Rules?

By | 2017-08-14T15:42:57+00:00 July 4th, 2017|Blog, Business Advice, Financial, Hiring, Monthly GAB, New employees, Small Business GAB, Tax|Comments Off on Are You Ignoring the Household Employee Payroll Rules?

  If you hire a domestic worker to provide services in or around your home, you probably have a tax liability that you don’t know about – or one that you do know about but are ignoring. Either situation can come back to bite you. When the worker is your employee, your liability includes both [...]

19 04, 2017

Are You Memorizing Transactions? Should You Be?

By | 2017-04-19T14:21:56+00:00 April 19th, 2017|Blog, Monthly GAB, new business owner, QuickBooks|Comments Off on Are You Memorizing Transactions? Should You Be?

You know that QuickBooks saves a lot of time. But have you explored how it does so by memorizing transactions? Your accounting work involves a lot of repetition. You send invoices. Pay bills. Create purchase orders. Generate payroll checks and submit payroll taxes. Some of the time, you only fill out those transaction forms once. [...]

19 04, 2017

Tax Implications of Crowdfunding

By | 2017-04-19T13:30:28+00:00 April 19th, 2017|Blog, Monthly GAB, Tax, The Tax GAB|Comments Off on Tax Implications of Crowdfunding

Raising money through Internet crowdfunding sites prompts questions about the taxability of the money raised. A number of sites host money-raising projects for fees ranging from 5 to 9%, including GoFundMe, Kickstarter, and Indiegogo. Each site specifies its own charges, limitations, and withdrawal processes. Whether the money raised is taxable depends upon the purpose of [...]

7 04, 2017

Don’t Overlook Tax Deductions for Home Ownership

By | 2017-04-07T12:59:15+00:00 April 7th, 2017|Blog, Monthly GAB, Tax, The Tax GAB|Comments Off on Don’t Overlook Tax Deductions for Home Ownership

Whether you already own a home or are considering buying one, you should be aware of the many tax benefits that go along with home ownership. There are plenty of reasons for owning a home, including the potential for capital appreciation and the fact that many of the costs are tax deductible, while rent is [...]

7 04, 2017

Estimated Tax Payments Are Not Just for the Self-Employed

By | 2017-04-07T12:51:38+00:00 April 7th, 2017|Blog, Monthly GAB, Tax, The Tax GAB|Comments Off on Estimated Tax Payments Are Not Just for the Self-Employed

Unlike employees, who have income, Social Security, and Medicare taxes withheld from their wages, self-employed individuals must prepay their taxes by making quarterly estimated tax payments. These are referred to as estimated tax payments because the self-employed individual must estimate his or her net earnings for the year and pay taxes on a quarterly basis [...]

20 01, 2017

Congress Gives Small Employer HRAs the Green Light

By | 2017-01-20T14:40:35+00:00 January 20th, 2017|Blog, Monthly GAB|Comments Off on Congress Gives Small Employer HRAs the Green Light

Congress has approved the 21st Century Cures Act, which includes a provision allowing small employers to reimburse their employees for medical expenses under a health reimbursement arrangement without being liable for the draconian, $100 per day penalty for violating the Affordable Care Act’s rules. President Obama has indicated his approval of the bill. Background: Stand-alone [...]

20 01, 2017

Not Business as Usual for Employers: W-2 and 1099-MISC Filing Dates Moved Up

By | 2017-01-20T14:34:38+00:00 January 20th, 2017|Blog, Financial, Monthly GAB|Comments Off on Not Business as Usual for Employers: W-2 and 1099-MISC Filing Dates Moved Up

The IRS, in an effort to combat rampant tax filing fraud, has introduced what they hope will be two new fraud-prevention measures for the upcoming filing season. The first will purposely delay until February 15 the issuance of refunds for tax returns where there is an earned income tax credit (EITC) and/or a refundable child [...]