Simple, easy and efficient receipt management
Managing your receipts can be a tough task. Trying to keep track of all those important business expenses and receipts can be a nightmare: pockets overflow, wallets become crammed with them and inevitably, many are lost. If you are claiming back expenses, then this can be of significant cost and frustration.
Over the years, as a firm of proactive accountants in Illinois, we have seen it all. From envelopes and shoeboxes overflowing with receipts to carrier bags and plastic wallets.
There is a much easier way and it's free!
IRS Advises everyone to avoid having too much or too little federal income tax money withheld from paychecks. Taxpayers should consider checking their tax withholding, keeping in mind several factors that could affect potential refunds or taxes they may owe in 2018.
Reviewing the amount of taxes withheld can help taxpayers avoid having too much or too little federal income tax taken from their paychecks. Having the correct amount taken out helps to move taxpayers closer to a zero balance at the end of the year when they file their tax return, which means no taxes owed or refund due.
Are we witnessing the death of the web?
It’s a subject that’s been causing debate in technology circles for quite a while now. In fact, as long ago as 2011 Forrester CEO George Colony gave a speech where he proclaimed the death of the web and the emergence of the “App Internet.”
To bring home the logic of Colony’s claim, let’s look at your own habits and see whether the foundation for this change is Apparent from your behavior. Do you own an iPad or tablet? Have you ever downloaded an App? Perhaps the eBay App? Facebook, LinkedIn or Twitter? Then chances are that you already have a number of Apps on your iPhone or tablet. They are easy to use, aren’t they? And you don’t have to fiddle around with a browser and search for the website. One click on the App and you’re in.
Almost everyone shops online now despite the uneasy feeling that are data is unsafe.
According to a recent PaySimple.com survey, 49% of American shoppers say they are extremely concerned with their data being stolen when shopping in stores and 58% when making a payment online. Business owners are contractually obligated to safeguard customers’ credit card information and following PCI compliance regulations but these efforts won't stop a hacker from trying to gain access.
So, what do you do? Store your credit card online or enter it each time you buy something? Let's take a look at the options:
Why business owners need to face up to the challenge of Mobile and Smartphone growth
The business landscape is not simply evolving; it’s changing dramatically, thanks to mobile technology.
Back in 1992 a 22-year-old test engineer sent the world’s first text message. Today, more than 8 trillion texts are sent each year and in October 2015 global users of Smartphones reached an astonishing 1.5 billion.
The IRS imposes stringent record keeping requirements on taxpayers who deduct expenses relating to business travel and entertainment (T&E), including meals, and electronic devices like cellphones. This includes employees who use personal assets to accommodate their employer and are paid on a non-accountable plan. If you do not have the required proof, your deductions may be denied completely.
Deductible travel expenses while away from home include, but are not limited to, the costs of:
Farming has often been viewed as the backbone of the American economy. While technology and other recent developments may have changed this thinking, farmers still enjoy a preferred status, at least as federal income taxes are concerned. For instance, there are several special tax code provisions relating to farming, most of them beneficial. At the same time, taxpayers in the agriculture field may be in line for the same tax breaks available to businesses in general.
What sort of tax provisions are we talking about? Here are ten items that may be of interest.