Facts About Capital Gains and Losses
When you sell a capital asset such as a home, household furnishings, and stocks and bonds held in a personal account, the difference between the amount you paid for the asset and its sales price is known as a capital gain or capital loss. Here are ten facts you should know about how gains and […]
Avoid These Common Errors When Filing a Tax Return
When filing a tax return, mistakes such as the common errors listed below can result in a processing delay – and increase the amount of time it takes to receive a tax refund. Using a reputable tax preparer such as a certified public accountant, enrolled agent or another knowledgeable tax professional is usually the best […]
Using QuickBooks’ Reminders and Calendar
In just a few short months, COVID-19 has transformed the entire U.S. small business landscape. Companies are struggling to stay afloat and everyone is eager to get back to “normal.” Unfortunately, it’s unclear when that will happen and during these uncertain times, you may need as much help as you can get. One of the […]
Loan Forgiveness Under the Paycheck Protection Plan
As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law March 27, many small business owners were able to apply for – and receive – a loan of up to $10 million under the Paycheck Protection Program (PPP). If the loan proceeds are used as specified, business owners may apply […]
Preparing an Effective Business Plan
A business plan is a valuable tool whether you’re seeking additional financing for an existing business, starting a new company, or analyzing a new market. Think of it as your blueprint for success. Not only will it clarify your business vision and goals, but it will also force you to gain a thorough understanding of […]
COVID 19: Update
We are doing our best to keep our clients informed of the new loan programs now available to small businesses. Here are some important highlights of the Paycheck Protection Program (PPP Loan). Who is Eligible? Businesses with 500 or fewer employees—including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors—are eligible. When […]
How to Back Up and Move a Company File
How to Back Up and Move a Company File You may not think of your QuickBooks company file as being portable, but it is. While most of the time it stored safely on the hard drive of your desktop computer or laptop, there may come a time when you need to move it. The most […]
Relief for Businesses with Net Operating Losses
Taxpayers with net operating losses (NOLs) form a business are provided tax relief under the CARES Act. Tax relief for partnerships filing amended returns is provided as well. Let’s take a look at three key points: 1. Claiming NOLs Taxpayers with net operating losses that are carried back under the CARES Act are now able […]
