Bookkeeping Newsletter | September 2024 Ready to tackle your extended tax returns? September means the kids are settling back into school, football season is kicking off, and you’ve got some pretty important tax deadlines coming up! Let’s go over what’s due on September 16th: Partnership and S Corporation tax returns: If you extended your Form 1065 or Form 1120-2, your tax return is due. Third quarter estimated tax payments: Individuals and corporations need to make their third quarter...
about 1 month ago • 3 min read
Bookkeeping Newsletter | August 2024 TTYL, Summer! It’s super depressing that summer’s coming to an end (but maybe not so sad that the kids are going back to school!). If you’re anything like me, you’re already looking forward to the extra time to plan your fall marketing campaign. Here are some marketing expenses your business might be able to deduct: Marketing Write-Offs Facebook/Google Ads Branding Photoshoot Copywriting Services Website Design Branded Merchandise Event Sponsorships...
2 months ago • 3 min read
Bookkeeping Newsletter | June 2024 Father’s Day is just around the corner... And if your dad is anything like mine, he’s known for manning the grill every weekend in the summer, killing any bugs you’re too scared to touch, and teaching invaluable life lessons, like how to change a flat tire. But, as much as we look up to them, there’s one thing dads are are notorious for having: a boring, old bookkeeper. Here’s why I’m NOT like your dad’s bookkeeper: I can work with you WHEREVER you are. Say...
4 months ago • 3 min read
Bookkeeping Newsletter | May 2024 It's gonna be an a-MAY-zing month! I hope you found some great ways to support small businesses on Small Business Saturday this past weekend! My mission is to put order to chaos when it comes to the finances of business owners, and I want to take a moment to highlight some of the ways I love to do that: SERVICE NUMBER ONE | HISTORIC BOOKKEEPING This one-time service is to get your bookkeeping up to date from your last tax filing. We will "recreate" your books...
5 months ago • 2 min read
Eclipses, Brackets, and Estimated Taxes You know how they call the NCAA basketball tournament March Madness? I’m coining the term April Absurdity for all of the tax craziness that’s happening on April 15th - TODAY - I'm hoping the absurdity of the month is behind you already! Here’s what needs to be filed/paid: Your individual tax return filing (Form 1040) and tax payment Your first quarter 2024 estimated tax payment Any calendar year corporate tax return filings (Form 1120) and tax payment...
6 months ago • 4 min read
It's Officially Time to Talk Taxes! Did you know that not everyone is required to file their taxes? Your filing requirement is based on factors like your gross income, age, dependent status, earned and unearned income, and how much you make if you're self-employed. You may be wondering why I’m telling you this... don’t I want you to file a tax return? YES! I want you to file a return because even if you aren’t technically required to file an individual tax return, there are several important...
7 months ago • 3 min read
It's Already February?! With one month down already this year, we're looking to stay on top of what 2024 has in store... and that includes some changes to LLC law that you'll find below! Business Ownership Information Beginning this year, if you own a small business, you're now required to submit Business Ownership Information (BOI) to FinCEN. FinCEN is like the IRS, but for financial reporting purposes. If you don't submit your BOI, you'll pay a hefty $500 per day penalty! If you opened an...
8 months ago • 3 min read
We wish you a Happy New Year! Please consider forwarding this information to a friend if you think they would find it useful. We appreciate you! New Year, New Tax Changes! I hope you enjoyed your time off for the holidays this year because we’re about to dive head-first into tax talk. Was your New Year’s Resolution to be more educated when it comes to taxes? Start with these IRS inflation adjustments: TAX BRACKETS: While tax rates have remained the same, the IRS has increased the income...
9 months ago • 2 min read
Newsletter:December 2023 Lookout Outlook It’s fa-la-la finally December! This time of year can be incredibly stressful... there's everything to contend with, from year-end closing (keep reading for a handy checklist) to navigating the holiday season... so I’m going to make sure this email gets straight to the point! If you don’t read anything else in this newsletter, read this! Two big bank holidays that fall on a Monday are quickly approaching: December 25th, 2023, and January 1, 2024. Make...
10 months ago • 2 min read