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Should You Charge Late Fees? QuickBooks Can Help
Should You Charge Late Fees? QuickBooks Can Help Do you have a lot of aging receivables? Assessing finance charges can speed up customer payments. Have your customers been submitting payments later than usual these last several months? It wouldn’t be surprising. Many businesses are struggling to pay bills these days. Still, you need to…
Read More2021 Standard Mileage Rates Announced
Highlights: Standard Mileage Rates for 2021 Business, Charitable, Medical and Moving Rates Important Considerations for 2021 Switching between the Actual Expense and Standard Mileage Rate Methods Employer Reimbursements Employee Deductions Suspended Special Allowances for SUVs The Internal Revenue Service (IRS), each year, computes standard mileage rates for the use of a vehicle for business, medical…
Read MoreThe IRS Does Not Accept Gift Cards for Payment of Taxes
Scammers are everywhere these days. They have all the nerve in the world and will go as far as impersonating the Internal Revenue Service to get your money. The IRS is a perfect cover because people are generally fearful of this government agency. Fear persuades victims to comply with the scammers demand, even if the…
Read MoreAmericans Are Being Forced to Tap into Their Retirement Savings During COVID-19
The COVID-19 pandemic has had a devastating financial impact on thousands of Americans across the country. During the second quarter of 2020, the economy contracted by 32%, resulting in millions of taxpayers have filed for unemployment for the first time, but even those monies have not been sufficient to cover living expenses for many. In…
Read MoreDon’t Miss Out on Year-End Tax-Planning Opportunities
To say COVID-19 has made 2020 a disastrous year for just about everyone would be an understatement. In response to the economic slowdown and losses of income, Congress passed several extensive laws to benefit individuals and businesses that suffered financial hardship because of COVID-19. However, 2020 has given rise to more than the usual tax-planning…
Read More2020 is a Great Year to Make Charitable Donations
Sorry to get you down, but COVID-19 has been a miserable experience for all Americans. However it is a great feeling to help people when they are down, and now is your chance. You even get a special tax break on your 2020 tax return for your generosity. A win-win in this time of despair.…
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