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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...

To the Relief of Small Business Owners, Congress Approves PPP Loan Changes

by Kenneth Hrica, CPA Jun 04, 2020

Well, it’s as good as official, the Senate approved the House bill that will dramatically modify key forgiveness terms for the Payroll Protection Program(PPP).  The bill, H.R. 7010 passed the House last week, and now all that’s needed is the President’s signature. I wanted to be so happy about this!  I really did, and I am, to an extent.  When talking about the PPP, it seems that for every one piece of good news, there are at l...

Tax Preparation Checklist

by Kenneth Hrica, CPA Jun 02, 2020

  As you start to think about your 2020 taxes, take a minute to bookmark this page.  I’m going to give you a list of everything you need to gather to be ready to file your return.  Not every category will apply to you, so just pick those that do, and make sure you have that information available. General Information What is your current address? Did this change from last year? Did your marital status change before the end of the y...

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