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OSYB Blog: Number Crunch!

News and Views from OutSource Your Books, LLC

2016 End of Year Tax Tips for Small Businesses

December 5, 2016 by Ed Becker

  Being near the end of the year, it might seem like you can’t do anything to benefit your company for tax filing, but this isn’t always true. Even if you have not planned for your tax year in advance in detail, you can still do many things that can benefit your filing. This discussion […]

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 […]

Creative Perks to Boost Employee Morale

October 15, 2013 by Ed Becker

As a small business owner, it is hardly realistic to offer huge bonuses and stock options to keep your employees happy. Fortunately, there are many other creative (and affordable) strategies that will keep your team feeling positive and operating at peak performance. Thinking outside the box can make huge impact on your corporate culture, without […]

Making the Most of Business Credit Cards

August 29, 2013 by Ed Becker

Business credit cards are a double-edged sword. If you’re not the type of manager who can meticulously manage spending – don’t bother with credit cards in the first place. If you’re up the challenge, they can be a great way to improve the financial flexibility of your business. Avoiding Credit Card Traps Although they won’t […]

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 […]

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 […]

Sales Tax Penalty Abatements

December 21, 2012 by Ed Becker

An honest mistake can be viewed differently by a sales tax agency, so don’t just pay the penalty without talking to an expert.  OSYB suggests using a professional such as Mark Stone of Sales Tax Defense, check out his comments on sales tax abatement.   He really knows his stuff.