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OSYB Blog: Number Crunch!

News and Views from OutSource Your Books, LLC

Filing Tax Return as Self-prepared vs. Professional Preparer

March 27, 2017 by Ed Becker

Tax return filing deadline is creeping up pretty quickly! If you have not already made a decision of how you will file, it’s getting down to the wire now. Many tax professionals will be booked up by now, or have very few openings. If you have never used a tax professional, you should be choose […]

Independent Contractor or Full Time Employee? Bookkeeping Tips and Strategies

October 23, 2013 by Ed Becker

In terms of bookkeeping, the difference between full time employees and independent contractors is essential knowledge for small business owners. Incorrectly classifying your workforce could lead IRS penalties, costly lawsuits, or both. How to Classify an Independent Contractor The primary identifying feature of independent contractors is their ability to control the method in which work […]

Simple QuickBooks Techniques to Thwart Employee Fraud

May 3, 2013 by Ed Becker

Small businesses often overlook the risk of employee theft and fraud. In most cases, weak internal controls leave the door wide open for embezzlement of company funds by unscrupulous employees. Fortunately, there are several simple techniques that can be implemented in QuickBooks to significantly decrease the risk of fraud. 1. The Root of the Problem […]

How Dwindling Tax Incentives for Green Energy will Impact your Business

May 1, 2013 by Ed Becker

Synopsis: The impact of expiring green energy tax incentives for small business and what to expect in the future. As traditional fuel prices continue to climb, green energy tax incentives have failed to keep up with the pace. Over the past decade, tax breaks for solar, wind, and alternative fuels have made clean energy a […]

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

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 […]

Sales Tax Check Up Time

January 2, 2013 by Ed Becker

As sales tax laws constantly change, is your Company compliant?  There are experts out there who stay on top of these changes, you should check out are friends at Sales Tax Defense who provide helpful hints for check ups.