Issuing Credit Memos and Refunds in QuickBooks

You’re accustomed to money going in a certain direction, but sometimes you have to pay your customers. Here’s how it’s done.  QuickBooks is very good at helping you get paid by your customers. It comes equipped with customizable invoice templates for billing customers and sales receipts for recording instant sales. It supports online payments, so

June Estimated Tax Payments Are Just Around the Corner

Article Highlights:  Employees Self-Employed Individuals Individuals with Sources of Income Without Withholding Quarterly Payments Underpayment Penalty Safe Harbor Payments June 15th falls on the weekend this year, so the due date for the second installment of estimated taxes is the next business day, June 17, which is just around the corner. So, it is time

How QuickBooks Protects Your Data, and How You Can Help

The data in your QuickBooks company file contains some of the most sensitive information on your computer. Make sure it’s secure.  Your customer list is gold. And those Social Security and bank card numbers in your payroll, client, and vendor records need to be protected from intruders and only viewed by authorized employees.  It’s not

Start Off on the Right Foot for the 2019 Tax Year

Article Highlights: W-4 Updates W-9 Collection Estimated Tax Payments Charitable Contributions Required Minimum Distributions Gifting Retirement-Plan Contributions Beneficiaries Reasonable Compensation Business-Vehicle Mileage College-Tuition Plans Individuals and small businesses should consider various ways of starting off on the right foot for the 2019 tax year.  W-4 Updates – If you are employed, then your employer takes the

Filing a 1099-MISC Are You Collecting the Needed W-9s?

Article Highlights: $600 Threshold Exceptions Form W-9 Impact of Tax Reform 1099-MISC Filing If you use independent contractors to perform services for your business or your rental that is a trade or business, for each individual whom you pay $600 or more for the year, you are required to issue the service provider and the