by Bobbie Witt | Jun 18, 2019 | Bookkeeping for Business, Bookkeeping for Law Firms, Bookkeeping for Property Management, Profit First, tax tips
Employee meals provided occasionally, such as for holiday parties, are tax-free as a de minimis fringe benefit. For employer meals provided for business purposes to be tax free, they must be provided in an “eating facility.” Note: The IRS believes snack areas and...
by Bobbie Witt | Jun 17, 2019 | Bookkeeping for Business, Bookkeeping for Law Firms, Bookkeeping for Property Management, Profit First, Small Business, tax tips
Here’s how to prevent scammers from stealing your money or personal data. By requesting electronic statements and accepting bills and bank statements only online. Helps to avoid having important personal information stolen from your home or mailbox. Have a shredder....
by Bobbie Witt | Jun 11, 2019 | Bookkeeping for Business, Bookkeeping for Law Firms, Bookkeeping for Property Management, Home Page Blog, Small Business, tax tips
Keep an eye on the following areas under others control. You might be recording all of your company’s or client’s expenses, but you probably don’t control them. Supplies expense. Look for discounts: get bids from multiple vendors who are not on your usual list, such...
by Bobbie Witt | Jun 10, 2019 | Bookkeeping for Business, Bookkeeping for Law Firms, Home Page Blog, Profit First
For 2020 there is expected to be changes to the overtime rules. You will have only 60 days to comply once they are implemented. The largest change will be in who qualifies for overtime pay. To be prepared, you must have a solid knowledge of the current rules. Here is...
by Bobbie Witt | Jun 4, 2019 | Bookkeeping for Business, Bookkeeping for Law Firms, Bookkeeping for Property Management, Profit First, tax tips
Many taxpayers mistakenly believe that bank or credit card statements support deductions but the IRS demands more. Their needs to be enough detail to support who was paid, exactly what they were paid for, and the date and amount of each payment. This is how one...
by Bobbie Witt | Jun 3, 2019 | Bookkeeping for Business, Bookkeeping for Law Firms, Bookkeeping for Property Management, Profit First, Small Business, tax tips
2019 Federal Rules and Regulations on Hiring 100% parent-owned Owners’ children (any age) Can work any number of hours or time of day. If under 16, cannot do hazardous work (e.g., use lawn mowers, sewing machines, or work near flammable or hazardous materials, or...
