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 […]
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 […]
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 […]
Article Highlights: Extensions Balance-Due Payments Contributions to Roth or Traditional IRAs Individual Refund Claims for the 2018 Tax Year Missing Information As a reminder to those who have not yet filed their 2021 tax returns, April 18, is the due date to either file a return (and pay the taxes owed) or file for an […]
Starting a business has a lot of complexities. One of them is taxes. A lot of new and small businesses attempt to do their own taxes without any help, and this can lead to all kinds of pitfalls. Here are some of the biggest problems, liabilities, and mistakes that you might not be aware of […]
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Dec
Dec
Unfortunately, personal finance is rarely taught in schools, so unless kids learn about money at home, they often learn hard lessons as adults. That’s why it is so important for parents to put this task on the list of things to teach their children, starting at a very young age. SHARE EXPERIENCES As you deal […]
Many times as business owners are just glad someone likes to deal with “the numbers” other than themselves. That being the case, do you have a way to check their work? Is there anyone else you can call to look at your books to make sure errors will not end up costing you […]
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Dec
Dec
It seems hard to believe, but the holiday season is almost upon us, and that means that the 2021 tax preparation season will soon follow. With the end of the tax year just around the corner, tax-savvy individuals need to take some time from their busy schedules to review the tax benefit steps they’ve already […]
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Jul
Jul
Relocating? How to Do It with Taxes in Mind If you’re thinking about moving from your current locale, you’re not alone. Americans are on the move for many different reasons: Remote work is increasingly popular and allows employees to live wherever they have access to WiFi. Tax changes introduced by the 2017 Tax Cuts and […]
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Jun
Jun
How to Protect Your Data in QuickBooks Your QuickBooks company information is gold. Keep it safe from fraud and intrusions. We can do that for you at Precise Books & Tax Solutions, too! Wouldn’t you agree that after the unprecedented year we’ve just experienced, the last thing you need is to have your accounting data […]
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