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9 Things The IRS Doesn’t Want You To Know About Getting Married

by Tracey Hrica, EA Jul 03, 2020

Well, some of them they do, some of them they don't advertise. That's why talking to your accountant should be part of your wedding planning. New life developments can be exciting, but they also change every aspect of your finances. When you experience a life-changing event, your cash flow and tax bracket are probably the last things on your mind. Consulting an accountant during significant life changes can prevent common mistakes and s...

Help! My Business Receipts are Absolutely Everywhere This Year

by Tracey Hrica, EA Jun 16, 2020

Keeping track of receipts is a headache every small business owner faces. Managing receipts is always a challenge for entrepreneurs who are busy, on the road, or just not as organized as they would like to be. Receipts end up EVERYWHERE: your desk, your car, your home, your office….the trash. If you are running a business, receipts are essential. Business expenses must be tracked on a monthly basis. There is nothing more anxiety-induc...

QuickBooks Quick-Tip – Save Time by Creating a Custom Report

by Tracey Hrica, EA Jun 15, 2020

Here's a QuickBooks Time-Saver If you run the same report regularly, you can save customized reports by choosing your preferred filters, renaming the custom report, and saving it. The next time you want to run the report, all you should do is choose your new custom report from your list and it will apply the filters you have saved. To create a custom report, go to the reports list in QuickBooks and choose the report you want to customiz...

Working From Home – Can I Take a Tax Deduction?

by Tracey Hrica, EA Jun 11, 2020

Have you been working at home during the COVID-19 shutdown, and wondering if it will affect your taxes? Will you qualify for a home office deduction? Many businesses have had to reevaluate how they run in response to this pandemic. People have been forced to work remotely, some for the first time. Covid-19 has changed the way we think about remote work – your home office may be the trend of the future. So, let's talk about the home of...

Don’t Forget – Unemployment Benefits are Taxable

by Tracey Hrica, EA Jun 09, 2020

Since March, an estimated 40 million Americans have filed for unemployment. The CARES Act, which passed on March 27th, was an enormous relief to our country’s workers.  This was the first time that many of them feared for their financial security. How were unemployment benefits affected by the CARES Act? This new law did three things: It expanded who qualified for unemployment, It extended the eligibility period, and most note-worth...

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