Archive for June, 2014

Q & A and Tips on Accounting, Taxes and Personal Finance.
You’ve hired an Accountant – now what?

You’ve hired an Accountant – now what?

What tasks will you delegate to your accountant?  How many hours should be allotted per visit? Prepare your Accountant’s checklist… A checklist can help you and your new accountant get things moving quickly and smoothly.  It can set expectations such as time allotments and costs involved, as well as familiarize your new accountant with your business and […]

June 30, 2014 | By More
Financial Challenges of Elderly Parents

Financial Challenges of Elderly Parents

The financial challenges of caring for elderly parents are many. The sheer weight of it all often leads to feelings of inadequacy and hasty decisions can cause financial distress.  It begins with communication and getting past the “financial discussions are private matters” many of us heard while growing up. Valerie McLaughlin, of Qual-i-Tax, Inc. in […]

June 27, 2014 | By More
Selecting Construction Accounting Software

Selecting Construction Accounting Software

Accounting software comes in many varieties these days, some are industry specific such as construction accounting software, designed with the unique needs of contractors in mind. Tu Dao is a Houston CPA and offers some great tips on selecting accounting software for contractors. Tu: There is no one best software for all contractors. Although QuickBooks […]

June 17, 2014 | By More
Bookkeeper Interview Questions – What to ask

Bookkeeper Interview Questions – What to ask

Your small business is ready to hire a bookkeeper. What’s the next step? Whether you interview in person or on the phone, have your questions ready. The bookkeeper will likely be interviewing you and gauging your preparedness and business acumen. A good bookkeeper interview is a give and take process. Ken Reid of MasterType Accounting […]

June 17, 2014 | By More
Factoring – accounting for factored receivables in QuickBooks

Factoring – accounting for factored receivables in QuickBooks

Factoring is when a business sells its accounts receivable to a third party at a discount. To meet immediate cash needs, a business will sometimes factor its receivables. CPA Jerry Kling of New York City details how to factor receivables in QuickBooks. Jerry: When you factor receivables, you have borrowed money against the accounts receivable […]

June 17, 2014 | By More
Don’t hire a bookkeeper or accountant solely on their hourly rate

Don’t hire a bookkeeper or accountant solely on their hourly rate

Don’t hire a bookkeeper or accountant solely on their hourly rate Hiring a bookkeeper or accountant solely on their hourly rate can result in an experience similar to buying cheap shoes: Bad fit, wear out easily, funky style. John Turcott offers advice on how to choose a bookkeeper or accountant and what questions to ask. […]

June 16, 2014 | By More
Taxes are a fact of life

Taxes are a fact of life

Taxes – just the term elicits strong opinions and discussion Taxes are a fact of life, but knowledge and smart planning can lessen the impact. Is the biggest tax refund the best strategy? How to file self-employment tax When to file an amended return? How to estimate tax? Should a household employee be on payroll? […]

June 9, 2014 | By More
Personal budgeting and money saving tips

Personal budgeting and money saving tips

Who couldn’t benefit from increased Personal Financial knowledge? Learning how to budget, money saving tips, debt consolidation, picking the right personal financial software – everyone approaches money differently, but there are some solid methods that have endured through the ages. We’ll tap the expertise of Certified Financial Planners and Daily Money Managers who work with […]

June 9, 2014 | By More
Bookkeeping – the actual process of gathering, organizing and recording the transactions of a business

Bookkeeping – the actual process of gathering, organizing and recording the transactions of a business

Bookkeeping is a key element of the accounting information system. Tracking expenses, recording sales, paying bills are daily functions crucial for the business owner who runs a solid company. Detailed record-keeping and financial records are essential for tax preparation, payroll and getting a small business loan. As your business grows, payroll questions may arise, especially the […]

June 9, 2014 | By More
Accounting software usage has increased rapidly over the past 15 years – coinciding with Internet and small business growth.

Accounting software usage has increased rapidly over the past 15 years – coinciding with Internet and small business growth.

While Intuit’s QuickBooks still dominates, there are other established companies and some new accounting software players vying for a piece of the action. Sage, Xero and a number of Cloud-based accounting solutions, including Apps for your smartphone. No longer does accounting software require a trip to the office supply store or a download, today it’s […]

June 9, 2014 | By More