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You are here: Home / Archives for Tax Prep Tips

Why do we need records ?

August 20, 2020 by Marie

There are several primary reasons that we even keep records of our financial transactions.  The one that everyone thinks of first — is records for federal and state income tax records.  And, this is truly an important reason for your records.  You will want to have records showing your income and expenses so that your […]

Filed Under: Accounting systems, Business Development, QuickBooks, SMART-TIPS, Tax Prep Tips Tagged With: accounting, bookkeeping;, business planning, management, management accounting, QuickBooks

Start Planning Now for your Income Taxes

February 5, 2020 by Marie

We know that you’re in some stage of preparation for either last year’s or this year’s income taxes. It may seem odd to start thinking about taxes just now, but actually, this is the ideal time to start planning and making business decisions with their tax implications always in the back of your mind. As […]

Filed Under: Accounting systems, QuickBooks, SMART-TIPS, Tax Prep Tips Tagged With: Tax Prep Tips

Here’s a Handy Year End Tax Prep Checklist

January 31, 2015 by Marie

Question: What should I take to my tax preparer for filing my taxes? Lynn-New business owner. Professor Sassy-U: “You should take your SHOEBOX (or your BOOT-box) shoved full with all your receipts and paper work scrambled together…that way your tax preparer can charge you lots of money with extra fees, and we can retire while we’re […]

Filed Under: Business Development, SMART-TIPS, Tax Prep Tips Tagged With: Tax Prep Tips

Tax Prep Tips – Stuff the Turkey and Your 1099 Envelopes

November 25, 2014 by Marie

Happy Thanksgiving! In a little over a month, it will be 2015 and time to execute your year-end accounting “to do” list. Getting your 1099s out now will save time later. Here are some tips to do just that: Go through your vendor list. Identify each contractor and ensure their eligibility as a 1099, then […]

Filed Under: Accounting systems, SMART-TIPS, Tax Prep Tips, Year End Accounting Tagged With: 1099 Contractors, Business Owner Resources, Tax Prep Tips, Year End Accounting

Who’s Watching Your Nanny Taxes and Household Payroll Compliance?

October 14, 2014 by Marie

There is never enough time in the day, right? Realizing we can’t do it all is important. Hiring help for personal tasks at home such as caregiving for the children, elderly, or a special needs family member allows you to have more time to run your business or career. You know how to hire for […]

Filed Under: Tax Prep Tips Tagged With: Caregiver taxes, Household Payroll, How to account for caregivers and household payroll, Nanny Taxes

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