OSYB Blog: Number Crunch!
News and Views from OutSource Your Books, LLC
How to Prep for Crowdfunding
August 16, 2013 by OSYB Staff
Did you know it takes 3-6 months to plan a crowd-funding campaign that will be successful? You need to have your plan down with all the details and foundation completed and organized. If you jump the gun and try put it out there too soon, you could fall short. For steps and tips read the […]
The Pricing Conundrum – Where to Set Your Charge-out Rates
August 16, 2013 by OSYB Staff
Charge-out rates are an important factor in building your clientele base. If you rates are way too high you may not land the business. On the other hand if they are too low, it may make customers leery of your service standards. For more guidance on how to set your charge-out rates, read the full […]
IRS Releases Draft of Form 8960 Net Investment Income Tax, the 3.8% Medicare Tax for 2013
August 15, 2013 by OSYB Staff
The first draft of the new IRS Form 8960 was released on 08/07/2013. This is the form for the new Net Investment Income Tax or the Medicare Tax. This tax is intended to help fund “Obamacare”. The 3.8% tax will be levied on individuals, estates and trusts if incomes are above the threshold.
Dealing with Seasonal Cash Flow Dilemmas
August 9, 2013 by Ed Becker
Virtually all businesses encounter cash flow setbacks at one point or another. Pool maintenance services are hit hard during the winter months, retail shops see sharp declines after the holiday season, and most tax preparers close up shop after the April 15th deadline. A quick glance at the books of any business will show seasonal […]
Managing Company Credit Cards in QuickBooks – The Easy Way
June 12, 2013 by Ed Becker
Company credit cards are a handy financial tool, and frankly you’ll probably find it hard to do business without them. However, proper bookkeeping that’s well-organized from the start will keep them from becoming a headache. If your business has even a few company cards floating around, you can very quickly have a bookkeeping nightmare on […]
How to Maintain Flawless Wage and Hour Compliance
June 10, 2013 by Ed Becker
Wage and hour compliance is becoming an increasingly important concern for business owners. Whether you run a small café with 5 employees or a manufacturing operation with hundreds of workers, it’s important to protect your business from unnecessary litigation. The Federal Labor Standards Act is notoriously confusing and failure to comply adequately could be extremely […]
Using Classes Effectively in QuickBooks
June 5, 2013 by Ed Becker
Accounting is all about information for effective business management. Classes are one way to get the answers you need quickly and easily. It’s easy to forget sometimes in the hustle and bustle of keeping track of bills and invoices and customer payments and tax time and everything else that accounting isn’t just about numbers. Properly […]
Internet Sales Tax Coming Soon?
June 3, 2013 by Ed Becker
For years we have enjoyed the freedom of ordering clothes, gadgets, and toys tax-free over the Internet, but all that could be changing soon. Legislation aimed at closing the Internet sales tax loophole is rapidly working its way through the political machine. The Marketplace Fairness Act Under current law, state sales tax does not apply […]
