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Accounting Tips

Accounting for Surcharge Fees and Best Practices

When applying surcharge fees and convenience to your clients/customers it’s important to list the fee as a separate line item in the transaction. This helps inform your client that their payment method is not preferred by your business – hence the convenience fee. In the long run, this should encourage your customer to choose preferred […]

Struggling to keep your books balanced?

Keeping your books balanced is the most important part of running your business. Your books can tell you important information such as comparisons by years to understand the performance of your financials, where you have improved or what is not producing for your specific business. In the end your financial reports are the backbone of […]

Cleaning Up Your Business Accounting

Now is the time to get your bookkeeping documents in order and clean up your business accounting.  Update those journal entries, make sure all of your receipts are documented and more.  As a business owner you have many things to think about throughout your day and with planning for your year.  The last thing you […]

New Tax Rules for Small Businesses

As we all know a new year can result in new tax rules and laws.  That is no different for 2022.  The new tax laws are specific to small businesses, freelances, gig workers, and others.  Small business owners who prepare their own tax filings need to be especially alert and on top of changing tax […]

A Breakdown of Tax Due Dates for Businesses in 2021

The Pegasus Tax and Accounting group has broken down each due date for tax requirements from businesses. According to them, in October 2021, there is tax reporting due for employees that received tips of $20 or more from September, and automatic extensions for individuals to pay their tax, interest and penalties due. Employers with nonpayroll […]

How to Categorize Your Business Spending

Not sure how to categorize your business spending on throughout the year to be prepared for filing your taxes? The Small Business Chronicle has put together helpful tips to make sure you are maximizing your full deductions for your business. Continue Reading… Start Running Your Business, Not Your Bookkeeping With Instant Accept you can know […]

Deductions… Are they business related?

As most of us all know deductions are the biggest way to save on out-of-pocket tax payments due at the end of the year. When it comes to taxes and business most expenses are tax deductible. As we navigate through this year with COVID leading to PPP loans and other assistance programs offered here are […]

Suggestions for Choosing Accounting Software

2020 changed a lot of financial standards for small businesses. The Balance offers suggestions for choosing your accounting software and how to manage your different accounts such as invoice tracking, and receivables from loans. QuickBooks is our preferred software. If you choose to go with QuickBooks or want to upgrade, contact us to find out […]

What Is Your Small Business Missing?

Do not be part of the one third of businesses that fail. Entrepreneurship can be riddled with hurdles and roadblocks. Do not let them get in the way of making your business successful. Here are few suggestions that may help along the way or even get you started if you are starting up a new business. […]

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