The U.S. Department of Labor announced on Jan. 9, 2024, the issuance of its final rule regarding how a worker should be classified under the Federal Fair Labor Standards Act. The new rule, which became effective March 11, 2024, rescinds…
If you and your employees plan on traveling for business this year, there are multiple factors to keep in mind. Under the current tax law, certain requirements for out-of-town business travel within the United States must be met before you…
The home office tax deduction is for self-employed individuals who use part of their home exclusively for business activities. Unfortunately, W-2 employees who work from home full time are not able to take advantage of this tax deduction. Prior to…
Now that the Holiday Season is firmly behind us, and you’ve probably finalized financials for YR 2023, how's your financial workflow shaping up? Are your clients all caught up on paying outstanding invoices? Check out Open Invoices report (Reports |…
In just a few short days, it will be time to welcome in the New Year. The Holiday Season brings personal and professional obligations, but for retailers, it's also the busiest time of the year. Even if you're not in…
Obtaining a six-month extension to file is relatively easy process, and there are legitimate reasons one might want to do so; however, there are also a few downsides to be aware of. If you need more time to file your…
As the year comes to a close, it's important for small business owners to conduct a thorough financial review and prepare for the upcoming year. By completing a year-end financial checklist, you can analyze your business's performance/position, close out the…
Usually, when people talk about habits, they’re trying to figure out ways to break bad ones. Oftentimes, it’s difficult to trace negative habits back to their point of origin. They’ve just become something habitual that we engage in ritualistically without…
As the current 30-year mortgage rate hovers around 8%, and the 10-year treasury approaches 5%, it's important to understand the implications of rising interest rates. Interest rates play a significant role in shaping the overall economic landscape and have a direct…
Running an e-commerce enterprise comes with its own set of unique challenges. One critical aspect is managing your finances effectively. Accurate bookkeeping/accounting is essential for staying on top of your overall cost structure, tracking inventory and sales, and ensuring compliance…
