Author: taxsecretsblog

Whether you just started using QuickBooks to manage your small business in 2024 or you've been muddling along for years with unanswered questions, diving into financial software can feel like swimming through uncharted territory. Your business's financial health depends on accurate bookkeeping and seamless transactions,

Article Highlights: Factors That Affect Whether Someone Needs to File a Tax Return Gross Income Required Filing Threshold 2023 Filing Thresholds by Filing Status Self-employment Status Status as a Dependent  Some Individuals Should File a Tax Return Even Though Not Required to Do So Tax

Article Highlights: COVID-19 Pandemic Notice Suspensions Resumption of Collection Letters in 2024 Special First Letter Penalty Relief Taxpayers Qualifying for Penalty Relief Tax Returns Qualifying for Penalty Relief Reasonable Cause Criteria or First-Time Abate Relief Due to the COVID-19 pandemic, the IRS suspended the mailing

While technology firms are laying off thousands of workers, companies of all types and sizes are in a war for talent in another STEM-related (science, technology, engineering, and math) field: accounting. The demand for accountants is soaring across industries, from international corporations to local CPA

Article Highlights: Information Reporting IRS Matching List of Documents To ensure individuals properly report all their income, the IRS has an ever-expanding series of information-reporting forms used to advise you and the IRS of your wages, retirement plan income, Social Security benefits, health insurance premium

Article Highlights: Collecting Paperwork  Decedent and Survivor Social Security Benefits   Probate Decedent’s Estate  Decedent Final Tax Return  Other Tax Returns  Surviving Spouse  Survivor Benefits Surviving Spouse Filing Status  The death of a loved one is one of life’s most difficult times and a time

For years now, litter taxes have been touted to solve our persistent litter problems in the United States. In fact, some politicians seem to believe these levies are a sort of magic elixir – but are they really working in the states and municipalities where

Baby Boomers – the largest generation in America by the numbers – are approaching their golden years. This means that many are beginning to look ahead to a healthy and secure retirement as they put their years in the workforce behind them. One of the

Article Highlights: Health Flexible Spending Arrangement (FSA) Benefits of an FSA Qualifying for an FSA Contributions to an FSA Amount of Contribution Distributions From an FSA Qualified Care Expenses Qualified Medical Expenses Use-It-or-Lose-It A health Flexible Spending Arrangement (FSA) allows employees to be reimbursed for

Since we're still in the early weeks of 2024, now is the perfect time to improve your business operations with QuickBooks for a more efficient and prosperous year ahead. QuickBooks Online continues to provide a wide array of bookkeeping and accounting features to simplify financial