by Doug Kook | Jan 18, 2019 | Small Business, Tax
This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business increased by 3.5 cents, to the highest level since 2008. As a result, you might be able to claim a larger deduction for vehicle-related expense...
by Doug Kook | Dec 18, 2018 | Financial Planning, Small Business, Tax
Tax planning is a year-round activity, but there are still some year-end strategies you can use to lower your 2018 tax bill. Here are six last-minute tax moves business owners should consider: Postpone invoices. If your business uses the cash method of accounting, and...
by Doug Kook | Dec 6, 2018 | Small Business, Tax
There are two methods a business can use to track and deduct Auto Expenses for tax purposes. No matter which method your business chooses, it is imperative to use an auto log. Smart phones are now the easiest and most convenient way to track auto use for business. We...
by Doug Kook | Nov 6, 2018 | Quickbooks & Bookeeping, Small Business
Adding Classes to your QuickBooks set-up can help you organize information and run reports to provide insight into how well different aspects of your business are performing. Classes give you a different way to quantify data, while keeping your chart of accounts from...
by Doug Kook | Oct 15, 2018 | Quickbooks & Bookeeping, Small Business
Now that you have formed your company and know where you are doing business, it is time to set up the chart of accounts. Creating the chart of account is like building a foundation for a house. A good chart of accounts leads to useful financial statements, logical...