We hope you’ll be ringing out a successful financial year at month’s end. In any case, here’s what you should know about preparing for 2013. End of the year. QuickBooks has been hard at work for the past 11+ months, recording and tracking and storing all of that financial data that you’ve entered so faithfully. But when you turn the calendar page and make a new start January … [Read more...] about Say Good-Bye to 2012 and Ready QuickBooks for 2013
Small Business
December 2012 Business Due Dates
December 17 - Social Security, Medicare and Withheld Income Tax If the monthly deposit rule applies, deposit the tax for payments in November. December 17 - Nonpayroll Withholding If the monthly deposit rule applies, deposit the tax for payments in November. December 17 - Corporations The fourth installment of estimated tax for 2012 calendar year corporations is … [Read more...] about December 2012 Business Due Dates
Keep Track of Meal & Entertainment Expenses
When looking for deductions to add to your taxes, don’t overlook your meal and entertainment expenses. These types of expenses must be “ordinary” and “necessary” to your business or trade and must be “directly related to” or “associated with” the active conduct of business. In order for the IRS to allow these deductions, documentation is required and should include the … [Read more...] about Keep Track of Meal & Entertainment Expenses
November 2012 Business Due Dates
November 13 - Social Security, Medicare and Withheld Income Tax File Form 941 for the third quarter of 2012. This due date applies only if you deposited the tax for the quarter in full and on time. November 15 - Social Security, Medicare and Withheld Income Tax If the monthly deposit rule applies, deposit the tax for payments in October. November 15 - … [Read more...] about November 2012 Business Due Dates
Are You Defining Items in QuickBooks Correctly?
Create item records in QuickBooks carefully, and QuickBooks will return the favor by running useful, accurate reports. Figure 1: Clearly-defined items result in precise reports. Obviously, you're using QuickBooks because you buy and/or sell products and/or services. You want to know at least weekly -- if not daily -- what's selling and what's not, so you can make informed … [Read more...] about Are You Defining Items in QuickBooks Correctly?