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OSYB Blog: Number Crunch!

News and Views from OutSource Your Books, LLC

Is a Home Office Deductible?

December 31, 2019 by OSYB Staff

Intuit QuickBooks shares some information that may help you figure out whether you can deduct your home office. First, they recommend knowing the tax forms that you need to fill out as small business owner: Schedule C is where small business owners who are self-employed report their business income and expenses Part 2 of the tax […]

Website Creation 101

December 26, 2019 by OSYB Staff

QuickSprout shares simple steps to create your website: Choose your name and find a domain for your website – tip: better to change a name than to use a poor quality domain and note that this is the hardest step of creating a website. Register your domain name with a domain registrar. Determine the function […]

Watch Out for The Fake IRS

December 24, 2019 by OSYB Staff

Henry+Horne shares that, “According to the IRS, notifications to phishing@IRS.gov are up substantially on unsolicited emails, claiming to be from the IRS.” Watch out for these emails: subject line that say “Automatic Income Tax Reminder” subject line that say “Electronic Tax Return Reminder” Keep this in mind: IRS never contacts you by email IRS never […]

Inclusivity Tips for Remote Staff

December 19, 2019 by OSYB Staff

Most organizations include staff that work remotely. Working remotely has benefits for both the employees and employers, however a possible downside is building “team spirit”. INC has some suggestions on just how to do that: hold regular webcam meetings that are sustainable and fit into work patterns and schedules consider quarterly, bi-annual or annual face-to-face […]

What You Should Know About S Corps, Part 3

December 17, 2019 by OSYB Staff

You have decided to choose the S corp status – Intuit QuickBooks shares your next steps: Register your business as either a sole proprietorship, single-member LLC, partnership or C corporation. Ensure availability of your business name in your state Register a “Doing Business As” name.  Prepare your articles of incorporation. You’ll need to file these with your […]

What You Should Know About S Corps, Part 2

December 12, 2019 by OSYB Staff

Now that you know more about S corp status, here are some of the disadvantages of declaring S corp status as there are stringent requirements: shareholder pool is significantly lowered can’t have more than 100 shareholders shareholders must be US citizens, residents, or resident shareholders cannot be other partnerships or corporations. Non-compliance with these requirements […]

What You Should Know About S Corps, Part 1

December 10, 2019 by OSYB Staff

IntuitQuickbooks shares that before opening a new business, a decision to make would be the type of entity you want to operate: sole proprietorship partnership limited liability companies C corporations S corporation So what is an S corporation?  “According to the Internal Revenue Service (IRS), S corporations are corporations that elect to pass corporate income, losses, […]

Improve Your Marketing Plan

December 5, 2019 by OSYB Staff

Small Business Trends shares ten ways to improve your small business strategy and here are a few of them: Use content marketing – it’s affordable and adds value for your customers but remember that your strategy should be refreshed over time Update your SEO strategy with expert input – check in with professionals and get […]