AVOID 1099 PENALTIES

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AVOID POTENTIAL FOR PENALTIES. LATE 1099 FILING PENALTY IS NOT WORTH THE RISK Specifically, not providing a correct statement (intentional disregard) carries a penalty of $250 per 1099, with no maximum for the year. $50 penalty per 1099, if you file within 30 days of due date. $100 per 1099, if … [Read more...]

QUICKBOOKS ONLINE VS DESKTOP

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QUICKBOOKS ONLINE OR QUICKBOOKS DESKTOP - HOW TO CHOOSE? QuickBooks Online vs QuickBooks Desktop To think that QuickBooks Online is just the cloud-based version of QuickBooks Desktop is a misconception. Even though these two products share the name ”QuickBooks”, they are not related. … [Read more...]

Looking through Auditor and Lender’s glasses

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THE STORY A BALANCE SHEET TELLS:LOOKING THROUGH AUDITOR AND LENDER’S GLASSES Lenders and Auditors pay attention to the Business Balance Sheet. The Balance Sheet tells the story of your business from the beginning to the current day. The Profit & Loss statement is where your tax liabilities … [Read more...]

ACCOUNTING IS YEAR ROUND

ACCOUNTING IS YEAR ROUND   Many freelance creatives toss all their receipts, invoices, and accounting data into a shoebox or file folder with intention to sort it at the end of the month. As the months roll by the papers continue to accumulate into an overwhelming task. So you say you … [Read more...]