QuickBooks Online doesn’t require deep knowledge of accounting principles. Still, there are concepts you should understand.
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Tax Breaks for Charitable Giving
You probably know that you can get an income tax deduction for a gift to a charity. But there is a lot more to charitable giving. For example, you can benefit a family member and a charity at the same time and still get a tax break.
Five Key Reports for Your Business
Each month, your accounting system yields actionable information for you to run your business better. Here are some key reports that all business owners should review every month.
Is There Still a Marriage Tax Penalty?
The term “marriage penalty” in taxes refers to the situation that two people with the same income would pay more tax if they married and filed a joint return (MFJ) than if they stay single and file separately as single taxpayers.
Illinois Employers Can No Longer Ask Applicants About Salary History
A new law in Illinois is banning Illinois employers from asking job applications or their previous employers about salary history during the hiring process. The law will take effect by October 1, 2019.
New Illinois Law Makes It Easier for Illinoisans in Criminal Justice System to Get Job in Health Care Industry
Governor J.B. Pritzker is making an effort to ensure Illinoisans with criminal records have a better chance at finding employment.
Final Regulations on Charitable Contributions and State and Local Tax Credits
This June, the U.S. Department of the Treasury and the IRS issued final regulations that require taxpayers to reduce their charitable contribution deduction by the amount of any state or local tax credits they receive or expect to receive in return. In addition, the IRS stated that taxpayers may treat payments they make in exchange… Continue reading Final Regulations on Charitable Contributions and State and Local Tax Credits
How to Stay Focused at Work
An eight-hour work day can be filled with dozens of distractions. From emails to meetings to coworkers asking you questions, it can feel almost impossible to get everything you need to done. It’s important to remember that staying focused while you’re at work is a matter of building good habits. Below are five ways that… Continue reading How to Stay Focused at Work
Small Employer Pension Plan Start Up Costs
If you’re a newly established or recently acquired business, or a business that took several years to become profitable, now may be the time to put more money into employee benefit plans like a qualified retirement plan. Your business may be entitled to a tax credit that would reduce your business’s 2019 tax bill for… Continue reading Small Employer Pension Plan Start Up Costs
Need Advanced Time-Tracking? Connect QuickBooks Online to An App
You can track the hours employees work in QuickBooks Online. But if your time-tracking needs are complex enough, you’ll need an integrated app. If your company has a staff and sells services, you know better than anyone that time is money. It’s critical that you track every minute that employees work, as well as those… Continue reading Need Advanced Time-Tracking? Connect QuickBooks Online to An App