OSYB Blog: Number Crunch!
News and Views from OutSource Your Books, LLC
Simplify your Year End Tax Returns with QuickBooks
April 24, 2013 by Ed Becker
QuickBooks helps you do away with the hassle of sorting, coordinating and computing for filing your year-end tax returns. This is the first principle of a good accounting system and QuickBooks gives it to you. Therefore why not use it to simplify filing of your tax returns? To quote from QuickBooks website “Simplify, Save Time, […]
Prevent Employee Theft with QuickBooks
April 22, 2013 by Ed Becker
All businesses, particularly small business are vulnerable to employee theft or embezzlement. It makes sense to ensure that you take steps to minimize and prevent theft opportunities. American businesses loose over $50 billion annually due to employee theft according to the US Department of Commerce. The first basic rule would be to select your employees […]
Audit Trail Within QuickBooks
January 25, 2013 by Ed Becker
The QuickBooks audit trail is a great tool for business owners, CPA’s, forensic accountants and anyone who is concerned about the integrity of the accounting files they use. Unfortunately, there are dishonest employees who look for weaknesses in systems and perpetrate fraud everyday. My bookkeeping firm, Outsource Your Books LLC, has been brought in on […]
Can I Receive Interest On A Sales Tax Refund?
January 23, 2013 by Ed Becker
The simple answer is “yes,” but each case is different. Check out the article I found pertaining to this at the following link: Elusive Sales Tax Refunds
FICA & Medicare Payroll Tax Rates for 2013
January 8, 2013 by Ed Becker
2013 FICA and Medicare Tax Rates The rate is 7.65% in total: 6.2% for the Social Security portion and 1.45% for Medicare. FYI, this had been reduced by 2% to 4.2% over the past few years as part of payroll tax holiday to help with the economic recovery. All of the fiscal cliff discussions did not address […]
Bookkeeping Year End Checklist
January 7, 2013 by Ed Becker
The year has come and gone and now is time to get information to your CPA for tax return purposes. In reality, a small business should be performing all of its essential accounting functions during the year and on a day-to-day basis. Let’s face the facts: small business owners get sucked into daily fires and it’s […]
Mileage Rates for 2013
January 7, 2013 by Ed Becker
The IRS has announced its rates, found a quick blog on this that is worth checking out if you reimburse your employees
Fiscal Cliff Averted- New Tax Rates
January 3, 2013 by Ed Becker
The fiscal cliff was avoided late Tuesday evening so what does this mean to your tax rates. Here is a brief summary Tax rates For tax years beginning after 2012, the income tax rates for individuals will stay at 10%, 15%, 25%, 28%, 33% and 35% (instead of moving to 15%, 28%, 31%, 36% and […]
