Identity theft happens when someone uses your personal information without your permission. While this can include credit cards, banking information, and passwords, it’s your Social Security number that’s the biggest IRS-related identity theft problem.
Author: admin
Using QuickBooks’ Bill Tracker
If your business pays a lot of bills, you need an efficient system for staying current with them. QuickBooks’ Bill Tracker provides that. Bill-paying may be your least favorite accounting activity. You definitely know how those checks and online payments affect your account balances, but it’s more than that. Staying up to date with your… Continue reading Using QuickBooks’ Bill Tracker
KRD Client Spotlight Summer 2019: Mr. Floor
When Felix Murokh started Mr. Floor in 1987, they were a fledgling organization comprised of a few skilled craftsmen all dedicated to customer service.
AICPA Outlines Priority Recommendations for IRS
The American Institute of CPAs (AICPA) submitted more than 140 recommendations to the IRS regarding its 2019-2020 Guidance Priority List. This list identifies and priorities items the AICPA believes the U.S. Department and Treasury and the IRS should address.
Strategies for Avoiding the Accumulated Earnings Tax
The federal government discourages companies from “stockpiling” their capital by using the accumulated earnings tax. This tax—added as a penalty to a company’s income tax liability—specifically applies to the company’s taxable income, less the deduction for dividends paid and a standard accumulated tax credit of $250,000 ($150,000 for personal service corporations).
Tax Cuts and Jobs Act (TCJA) & U.S. Taxation of Foreign Business Income
As a part of the Tax Cuts and Jobs Act (TCJA), there are tax provisions that will affect U.S. shareholders of controlled foreign corporations (CFCs) for tax years beginning after December 31, 2017. The IRS recently issued guidance on these changes.
How to Enter Bills in QuickBooks
It’s not as much fun as creating invoices, but the bills must be paid. Here’s how QuickBooks helps. We’re in a bit of a transitional period with business bill-paying. Some paper bills still come via the U.S. Mail, however you may also be getting some through email. Others don’t come at all: You might get… Continue reading How to Enter Bills in QuickBooks
How to Use Progress Invoicing in QuickBooks Online
Does your business do work for clients over weeks or months? Consider using QuickBooks Online’s progress invoicing. Let’s say you’re doing a job or project for a customer that is going to take a long time, but you don’t want to wait until you’re finished to get paid. Or you’ve agreed to let a customer… Continue reading How to Use Progress Invoicing in QuickBooks Online
How QuickBooks Protects Your Data, and How You Can Help
The data in your QuickBooks company file contains some of the most sensitive information on your computer. Make sure it’s secure. Your customer list is gold. And those Social Security and bank card numbers in your payroll, client, and vendor records need to be protected from intruders and only viewed by authorized employees.
Expense Reimbursements for Employees
An employer may reimburse you for travel, meals, and entertainment expenses incurred while performing services for the employer. The tax treatment of the reimbursement, including per diem allowances, depends on whether the employer has an “accountable plan” or a “nonaccountable plan.”