Not sure what expenses to track or what you can deduct for your new business? If you’re self-employed, understanding what’s deductible and recording all of your business expenses should be priorities. When you work for yourself, accurate accounting is critical. The IRS pays special attention to tax returns prepared by sole proprietors. Not only does […]
QuickBooks
Avoiding Capital Gains Taxes with a 1031 Exchange
Savvy investors can build wealth by deferring capital gains taxes via a 1031 exchange. Learn how it works and how it can help you as a real estate investor. For the in-depth information required to execute a 1031 exchange, a qualified intermediary is necessary. What is a 1031 Exchange? A 1031 exchange allows real estate […]
Recordkeeping Tips for Freelancers and Gig Workers So You Can Avoid Getting in Tax Trouble
Recordkeeping Tips for Freelancers and Gig Workers So You Can Avoid Getting in Tax Trouble If you are working as a freelancer or gig worker, you are certainly not alone. Millions of men and women are earning extra income driving for ride sharing services, designing websites for online entrepreneurs and writing for local businesses. Some […]
How to Create Recurring Transactions in QuickBooks Online
QuickBooks Online saves time and improves accounting accuracy in numerous ways. One example is its support for recurring transactions. It’s easy to get distracted when you’re doing dull, repetitive accounting work. That distraction leads to errors sometimes. So, besides the time you’re spending on work that could be automated, you have to tack on additional […]
How to Use Rules in QuickBooks Online Transactions
Maintaining your transaction registers conscientiously leads to a clearer understanding of your finances. Last month, we talked about the types of best practices that can lead to more effective use of QuickBooks Online and, ultimately, more thorough knowledge of your finances. The first one was this: Go through your new transactions every day. Categorizing and […]