A chart of accounts is a list of the account numbers and names relevant to your company. The 4 primary groups in a standard chart of accounts are Asset, Liability, Income, and Expense. This video contains some helpful tips in how to organize them in QuickBooks or QuickBooks Online to make your small business’ financial information [...]
This article was published by the IRS. Living with a disability can come with additional expenses. Achieving a Better Life Experience accounts are authorized tax-advantaged 529A accounts that help disabled people pay qualified disability-related expenses. Here are some key things people should know about these accounts. Annual contribution limit The limit remains $15,000 in 2020. Certain [...]
Time is your most valuable resource. It can't be renewed or reimbursed. So why waste it? QuickBooks Time's cloud-based employee time tracking and scheduling solution puts critical minutes back in your hands. Employee hours are instantly accessible by admins and business owners. Schedule your workforce with ease and get to-the-second info about who's working and where. [...]
This article was published by the IRS. When starting a business, owners should treat all eligible costs incurred before beginning to operate the business as capital expenditures that are part of their basis in the business. Generally, the business can recover costs for assets through depreciation deductions. For costs paid or incurred after September 8, 2008, [...]
Deferred tax assets and liabilities may be terms you’ve seen added by your accountant to your small business balance sheet. They are financial items on a company’s balance sheet that exist because the income on the tax return is different than the income in the accounting records. Learn how to evaluate, make sense of, and take [...]
