Fri.Apr 01, 2022

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QuickBooks Clean Up To Reduce Taxes And Fees For Contractors

Randal DeHart

Contractors who ask for help in Cleaning Up their QuickBooks Files before filing taxes have better results than those that do not. The Tax Accountant is happier because the QuickBooks file is clean and easier to work with. They will likely find more deductions that can save you money and, in some cases, mean the difference between success and failure in your construction company.

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Friday Footnotes: No Foolin’ Here; 18,000 New Accounting Jobs; Skills Auditors Need NOW to Be Future-Ready | 4.1.22

Going Concern

Ed. note: forgive us, we lack the bandwidth to come up with an April Fool’s prank today. For your reading pleasure, you can reminisce on the time we hid the entire site behind a (fake) Bitcoin paywall for a few hours on April Fool’s Day 2014 and proceeded to get cussed out by readers and haters alike. Ah, memories. 431K jobs added in March, with 18.2K in accounting [ Accounting Today ] Some of the main job gains occurred in leisure and hospitality, and professional and business servi

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Evaluating Tips About Insider Fraud

FraudFiles

Insider fraud is most commonly detected in companies through a tip, either from an employee, a customer, a vendor, or an outside party. Anonymous hotlines are excellent tools for reporting fraud, but management must have a plan for evaluating these tips. Some tipsters are okay with revealing their identities from the start. Others fear retribution or damage to their own reputations, so they prefer anonymous reporting.

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Be Proactive With Your Clients

RitaKeller

“If you expect nothing from somebody you are never disappointed.” – Sylvia Plath, The Bell Jar. I admire firms that are proactive with their clients. Here is this week’s Flashback Friday post about a firm that is proactive. It’s Friday. Quit working at 4:00 pm!

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Amending personal income tax returns 1040 individual to 1040X

MyIRSRelief

Amending and or correcting a US individual 1040 income tax return (1040X), there are many reasons to do so: correcting filing status of the taxpayers, which if not corrected, would result in incorrect total income reported, tax deductions and tax credits. Taxpayers should timely correct and amend their personal tax returns to assure inaccuracy of penalties being assessed, and of course to avoid a possible audit and its significant impact on you the taxpayer, if located in Los Angeles, CA or othe

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Electric company cars – are they still tax-efficient?

Inform Accounting

Tax policy is used to influence behaviour as well as to collect revenue. One example where this is the case is the company car tax rules which tax high emission cars heavily and reward drivers for choosing electric and low emission models. Why emissions matter for tax? Where an employee has a company car that is available for his or her private use, they are taxed on the benefit that this provide.

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