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How to Keep Track of Business Expenses: Setting Up a System to Save Time at Tax Season

inDinero Tax Tips

We cover the specific interpretations and deduction limits in full in our ultimate guide to business expenses and tax deductions , an article on small business tax deductions , and finally, our primer on non-deductible expenses. It helps you answer the all-important question: Are you profitable on a month-to-month basis, and if not, when?

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Final Restaurant Revitalization Fund (RRF) SBA Report Due April 30, 2023 — Here’s How to File

Nancy McClelland, LLC

This blog post ( with a 20-min video walking you through the process ) is our suggestion of how to translate the info you already have in your bookkeeping software into a format that will easily conform to the Restaurant Revitalization Award Portal requirements.

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Rules for When To Issue a 1099 Form to a Vendor – Updated for 2023

Nancy McClelland, LLC

NEC” stands for “non-employee compensation”. Legally, no business should be using the non-business versions of these payment types… but in real life, many do. My recommendation (for many reasons) is to only use the business versions, and then the 1099-NEC is a non-issue (because Venmo and PayPal will issue a 1099-K instead).

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Rules for When To Issue a 1099 Form to a Vendor – Updated for 2023

Nancy McClelland, LLC

NEC” stands for “non-employee compensation”. Legally, no business should be using the non-business versions of these payment types… but in real life, many do. My recommendation (for many reasons) is to only use the business versions, and then the 1099-NEC is a non-issue (because Venmo and PayPal will issue a 1099-K instead).

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Top Online Bookkeeping and Accounting Services for 2021

xendoo

Good business bookkeeping is vital for any successful company, both for legal and financial reasons. Accurate information from bookkeeping is not only necessary to know where your business stands financially at a given moment, but it is also essential for strategy planning, managing cash flow, and predicting profitability. .