Month: February 2016

Can’t Stand to Look at Old Balances? Get them OFF the Books!

You make the final phone call, only to hear a recording that the line has been disconnected. You send a letter certified mail, only to get it returned unopened. Now what? Unfortunately, your accounts receivable balance for that customer has turned to bad debt. As the aging of your accounts receivable grows, so does your potential […]

Posted In: Quickbooks

10 Facts You Should Know about the Do Not Call Registry

Most Americans hate receiving unsolicited telemarketing calls. Inevitably, they seem to happen at the worst possible times — when you’re sitting down to dinner, tuning in to your favorite television show or drifting off to sleep. Fortunately, the Federal Trade Commission (FTC) allows you to sign up for the Do Not Call (DNC) registry. Debunking the […]

Posted In: Business

Use a Systematic Approach to Set Your Prices

As you plan your business strategy for the coming year, give some attention to the prices you’re asking for your existing products and services, as well as those you plan to launch in 2016. Companies must address four issues when selling products and services to make a profit. They’re commonly known as the four P’s: 1. Product, […]

Posted In: Business

What Health Coverage Forms Must Large Employers Complete and When?

Question: Our business has determined that we’re an applicable large employer (ALE) subject to employer shared responsibility under Internal Revenue Code Section 4980H. As an ALE with a fully insured health plan, what forms do we need to complete to report on health coverage? When do we need to file them with the IRS? Answer: You need […]

Posted In: Healthcare

Ensure You Qualify for Charitable Donation Deductions

Giving to charity can provide you with a warm feeling as well as a nice tax break. But you’ve got to itemize deductions on your tax return. And, like most tax breaks, charitable deductions come with a number of rules you must follow to actually claim the write-off. Here are the details. 8 Steps to Finding […]

Posted In: Tax Advisor, Tax Deductions, Tax Filing

QuickBooks — Have it YOUR Way!

Whether you are creating a new company file or you are working in a file that’s been around for a while, you can set up the QuickBooks® program to perform all the functions you require. In QuickBooks, Preferences allow users to activate/deactivate program features and customize how these features will work. Some of the features that can be […]

Posted In: Quickbooks

Tackle Key Financial Issues as You Face Retirement

The Baby Boomer generation reached its peak in 1957 at an annual birth rate of about 4.3 million people. It’s hard to believe that these Baby Boomers will turn 59 years old in 2016. An important rite of passage that comes with this age is that they’ll soon be eligible to withdraw funds from their qualified […]

Posted In: 401K, Retirement

Do After-Hours Communications Qualify for Overtime Pay?

Back in 2010, police officers working for the Chicago Police Department’s (CPD) Bureau of Organized Crime sued their employer, eventually earning class-action status for the case (Allen v. City of Chicago). The officers maintain that, while off duty, the CPD required them to access work-related emails, messages and phone calls on their BlackBerry devices. This, they […]

Posted In: Business

The Deductible 2016 Mileage Rates for Business and Other Purposes

The IRS issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. What Does Gas Cost these Days Around the Country? The national average price of a gallon of regular unleaded gas was $1.85 on January 21, 2016. This is down from […]

Posted In: Tax Advisor, Tax Deductions, Tax Filing

Next Page »