Small Mistakes Equal Big Problems: Mapping your 1099 vendors
QuickBooks has a very user-friendly feel about it. It is easy to use, which ironically can be the reason why people, if not properly educated on how to use it, can run into a laundry list of potential...
View ArticleMinimum Wage Increase: An Oasis or a Mirage?
The city of Los Angeles has agreed to draft an ordinance raising the minimum wage from $9.00 an hour to $15.00 by 2020 in the hopes of aiding in the quality of life for those who are functioning at the...
View ArticleGood News and Bad News for CA’s Costly Workers’ Compensation System
This information was originally shared in the Torrance Chamber’s weekly e-mail to members. I thought employers would be interested in reading the information, so I’m sharing on my blog. A massive...
View ArticleBookkeeping No, Relationship Yes
About a week and a half ago I received a call from the CPA of a client saying that her attorney requested that all services be performed by one person. For the last 8 years I have been helping my...
View ArticleMerging Accounts within QuickBooks
Have you taken a look at your chart of accounts and noticed that you have multiple expense accounts for office supplies? Or that a vendor is in your system twice because their name was entered...
View ArticleWithholding Calculator: Avoiding Income Tax Penalties
During this past tax season some people received large refunds while others owed underpayment penalties on top of additional taxes owed to the IRS. To avoid this next year, you might want to consider...
View ArticleMore Workers May Become Eligible for Overtime
Do you currently have employees who are salaried and exempt from overtime? Are you aware that the laws regarding who would be exempt from overtime may be changing? The U.S. Department of Labor may...
View ArticleChild and Dependent Tax Credit
Do you have minor children in your household? If you do, you are probably one of the many parents who place their children in childcare or summer camp in order to work or look for work. If so, your...
View ArticlePCI Compliance: What Is It and What Does It Mean
In 2004 Visa, MasterCard, American Express, Discover, and JCB created the Payment Card Industry Data Security Standard Council. The Council is responsible for managing and developing security...
View ArticleHow Seasonal Workers May Affect Your ALE Status
Are you an employer required to offer employee health care coverage? According to the Affordable Care Act (ACA), if you have 50 or more full-time employees (or full-time equivalents) you qualify as an...
View ArticleI Have a Great Team!
Today my post is not focused on the topic of bookkeeping, payroll, or sales tax issues. I’m writing to tell you a little bit about my office staff and how appreciative I am to have them on my team at...
View ArticleSmall Business Health Care Tax Credit
You might have read our past blog post, ACA and Employers: Why Workforce Size Matters. As mentioned, if you are a small employer, you might be eligible for the Small Business Health Care Tax Credit. In...
View ArticleRoth IRA 401k 5 Year Rule
The Roth 401(k) five-year rule determines when you begin receiving tax-free qualified distributions from your 401(k) plan Roth account. It is similar to the five-year rule that applies to Roth IRAs,...
View ArticleWill You Have to Collect Sales Tax For Out of State Sales?
Are you a business selling products to other states? If so, you may be required to collect tax on sales outside of your home state in the not too distant future if you aren’t already required to do so....
View ArticleIndependent Contractor Status in CA (Uber)
I recently received an e-mail from DeAnne Chase of Chase Law Group on the topic of CA litigation regarding the employment status of Uber workers. This is a timely resource as this was a topic of...
View ArticlePenalty Relief For Unfiled Retirement Plan Returns
The Internal Revenue Service (IRS) is encouraging eligible small businesses that did not file certain retirement plan returns to benefit from a penalty relief program helping them to come back into...
View ArticleShopLocal’s 3rd Annual Small Business Grant and Gala
Do you have an independently-owned retail or service business based in the South Bay? Do you have less than 10 full time employees? Are you active or have local collaborative efforts in the community?...
View ArticleCreating a Backup in QuickBooks Desktop
Are you an entrepreneur or a bookkeeper using QuickBooks desktop software? Are you creating backups to save your data in the event of a computer crash? I highly recommend that every time you do...
View ArticleCongress Changes Many Tax Return Due Dates & Extensions
Last week I read an article in Forbes Magazine online discussing how the passage of a highway bill has changed tax return due dates for many forms, and I wanted to share excerpts of this info with you...
View ArticleAdvantages of a Single Participant 401(k) Plan
For a long time, self-employed workers did not consider a one-participant 401(k) plan because of the cost and effort to put the plan into place for one person. But now there is a feasible alternative...
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