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Accounting | entrepreneur | Property Management | Real Estate Agent | Real Estate Broker | Small Business | Taxes | Xero
Keeping good records, be in the know
Keep it separated Some of the real estate agents we have worked with were shocked when they got their tax bill. They owed more to the IRS due to not capturing all of their expenses. They had been missing out on thousands of dollars of deductions because they are not keeping good records. The primary…
Universal Truths about Business and Life!
Accounting and Healthcare have more in common than you think! Jay Kimelman is the digital CPA. That title describes him in every sense of the word. He sees numbers in his head in nice neat columns, remembers them in photographic detail, and associates no emotion with those numbers on the page. I try telling him…
Accounting | Sales Tax | Tax
Supreme Court ruling impact on online retailers
This week the US Supreme Court (SCOTUS) announced their decision on the South Dakota v Wayfair case it heard back in April. A little history. The current laws are based off the Quill case that was heard in 1992, which set the standard for physical nexus. That standard is a few years past it’s usefulness…
How-To | Onboarding | Practice Management | Tax | WorkFlow
Proper Workflow Necessary for Efficiency
Tax Preparation WorkFlow Roundtable This video is the result of recent thread regarding workflow on Accountants, Bookkeepers and Business Owners , a collaborative Facebook group with over 6000 members. One of the members posted a question about workflow for her growing tax practice that generated a lot of interest and prompted us to set up the roundtable. Best…
Florida, protect yourself from tax ID theft!
Tax ID theft is rampant in Florida. The IRS is taking steps to protect you. Florida is 1 of 3 test markets to help protect taxpayers. With the incidents of tax identity thefts rising, the IRS is working on curbing this out of control issue. Ordinarily, you would have had to be a victim of…
COVID-19 | Payroll | Small Business | Taxes
CARES Act – The Business Provisions
U.S. Government Provides Relief to Individuals, Businesses in Midst of COVID-19 Crisis On March 27, President Donald Trump signed into law a historic $2 trillion stimulus package designed to provide economic relief to individuals and businesses affected by the coronavirus pandemic. Our aim in this alert is to give a brief overview of both the…