Let's dive into this month's newsletter:It's Fall, Y'all!Can you believe we’re officially starting the fourth quarter of 2023?! Around the office at Lookout Bookkeeping, October brings prepping for the upcoming tax deadlines and the start of year-end planning. If you filed an extension for your Form 1040 or Form 1120 in April, taxes were filed on Monday, October 16th (unless you’ve received an extension by being in certain disaster zones). I'm thankful that is over! Spooky-Good Financial ReportsIf you’ve been reading my newsletter long enough, you’re probably very familiar with the three main financial statements. Today, I’m sharing three more reports that can give you scary levels of insight into your business:
The Wonderful World of W-9s!What is it?
Who do I need to collect a W-9 from?
When should I collect a W-9?
What about foreign service providers?
What are some examples of contractors/vendors that I need to get a W-9 from?
What happens if I do NOT collect a W-9?
Thank you to Shannon Weinstein, CPA for this information from her Keep What You Earn Podcast. For further information: https://bit.ly/KWYE-W9 Have questions? Let us know! Know a friend who could use our help?We would love to support them! The second biggest compliment is when you send your friends our way! Refer a business owner who signs up for monthly services and receive a $100 cash referral gift. You can send this intake link to your friends: bit.ly/LKTLead Your support of our small business makes all of this possible, thank you!
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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...
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...
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...