With a Possible Recession Looming, You May Want to Review Your Cash Flow Process

Recession Looming, Review Your Cash Flow Process

If you’re a business owner who has been through a recession before, you know that smart cash flow management is absolutely crucial. If you’re a new entrepreneur who hasn’t been through an economic downturn, you may be less familiar with how quickly your finances can be affected. To protect yourself and keep your business operating, […]

Outsourcing vs. In-House Bookkeeping: What’s Right For Your Business?

Outsourcing vs In House Bookkeeping What's Right For Your Business

In-house bookkeeping is the traditional form of business bookkeeping, but companies are increasingly turning to outsourced bookkeeping solutions because of the advances in technology and a growing economy. While each of the two options comes with pros and cons, we’ve laid out the differences between the two. Outsourced bookkeeping services often provide higher quality and […]

Summer Employment for Your Child

Summer Employment for Your Child

Article Highlights Higher Standard Deduction IRA Options Self-Employed Parent Employing Your Child Tax Benefits Summer has arrived, are your children looking for a summer job. The standard deduction for single individuals increased from $12,550 in 2021 to $12,950 in 2022, meaning your child can now make up to $12,950 from working without paying any income […]

Getting Started with Reports in QuickBooks Online

You should be running reports in QuickBooks Online on a weekly—if not daily—basis. Here’s what you need to know You can do a lot of your accounting work in QuickBooks Online by generating reports. You can maintain your customer and vendor profiles. Create and send transactions like invoices and sales receipts, and record payments. Enter […]

You May Need to File Estimated Tax Payments

Article Highlights: Employees Self-Employed Individuals Quarterly Payments Underpayment Penalty Safe Harbor Payments Estimated tax payments are not just for the self-employed. They are for anyone whose withholding and tax credits are significantly less than their projected tax liability, and if used properly, can protect a taxpayer from underpayment penalties. Employees who will have income, Social […]