We decided to analyze our client’s financial performance for the last two years. (There's no denying it -- we are a bit nerdy!) Not surprisingly, we found that most small businesses had a difficult 2020 year. We noticed a few things when reviewing the data, such as:
It's time to close the books on 2020, but before you close the year in QuickBooks, you need to ensure a few things are done.
We aren’t talking about peanut butter and chocolate (although that is good); we are talking about a part-time bookkeeper and a part-time CFO. That combination lets you do what you do best – create new products and services for your small business.
For several decades non-employee employee compensation was reported using a 1099-MISC. The IRS has changed that for the 2020 tax filing year and is requiring those wages to be reported on a 1099-NEC.
Now that specifics are out for the second Paycheck Protection Program (PPP) round, there are some important things you need to know. One is the 25% loss in receipts rule.
For most of us, driving to the office has been replaced by remote work environments. Fortunately, at BudgetEase we did a lot of remote work before the pandemic. For many small businesses, however, this has been a challenging adjustment period.
Despite the time of year, I chose to head to Aurora Outlets to pick up a few holiday gifts this week. I recall saying last year that I would spare myself the misery of trying to find a parking spot and waiting in line. Knowing the annoyance lying ahead, I went anyway.
It’s not too late to get organized for year-end. A lot of small business owners wait too long to get their financials in order. Closing the books for the year doesn’t have to be a race to the finish; it can be a jog. Below are a few things you can do now.
As the title suggests, we can help your small business tackle the tough stuff, and no we are not selling laundry detergent now. By the tough stuff, we mean all the transactions in your QuickBooks file that you haven’t cleaned up because you either don’t have time or don’t know how. Luckily for you, we do this every day (and actually like it).
Imagine how nice it would be not to have to hire a bookkeeper ever again. In addition to saving you time, an outsourced bookkeeping team will also save you money. Below are a few of the benefits of having an expert perform your bookkeeping.