Projecting Accounts Receivable Collections
Projecting A/R collections is important for meeting requirements as they come due. Being able to identify customers who won’t pay, is important for estimating uncollectible A/R. Your uncollectible A/R history and sales staff are good sources. For example, if history...
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Dealing with Slow Receivables.
You’re fortunate, if your customers pay on time. You won’t be the only one calling those customers that don’t pay on time. AIPB interviewed Charles W. Kyd, founder, Exceluser.com, a site for Excel users, and former CFO and VP-Finance for many small-growth companies,...
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Don’t Double Dip
Proprietor can’t double dip on car expenses. This might seem like a no brainer, but if a client tells you to do it, you will need to think twice— you need to know the law. E, a sole proprietor, produced videos, and reported his business activities, including...
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Paycard Trends
When it comes to paycards, the trend is accelerating. It is the employer’s responsibility the ensure that each employee gets paid keeping in-line with state law requirements. But with Jack living in a distant location, John who travels mostly, and Jane doesn’t have a...
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Data Security for Tax Time
Victimized tax pros tips on data security. Below are recommendations provided by tax professionals who were victims of data theft, according to the IRS who interviewed them. Cyber insurance for data breaches. Review your liability and property coverage as it typically...
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Useful Technology for Your Business
Hubs and USB drives – should you be using? Here is what you need know. There are several different hubs and USB thumb drives that are simple to use and purchase. A flash drive, which is a data-storage device you connect to your computer and devices to download and...
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2018 Schedule C-EZ for Freelancers
2018 Schedule C-EZ simplified version is available for some proprietors If the filer is self-employed and business meets certain conditions: The business expenses equal $5,000 or less; Has only one businessThere are no employees Also, the business must: Show no...
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Signs of Payroll Fraud
Here we talk about the often-missed kinds of payroll fraud and what to do: #1. “Ghost employee,” receiving paychecks, Normally this could be a former employee, possible vendor, a made-up person, which can be easily overlooked, moreso if your company has a larger...
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401(k) Contribution Limits
Watch 401(k) contribution limits. The limitations are per employee—not per account. The IRS is about to enforce excess contributions. Be aware: some employees exceed the annual limit ($19,000 for 2019) because they have multiple accounts, according to a Treasury...
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The IRS on Employer-Provided Meals
The IRS has been going over with a fine-tooth comb employer providing free or reduced-price meals to employees on the business premises. Employer-provided meals are tax free to employees under §119, Meals or lodging furnished for the convenience of the employer, if...
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