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It’s a New Decade, Do Something Different

It’s a New Decade, Do Something Different

Guest blogpost by Evelyn Bandoh, founder of EAB Creative Planning Services, LLC. fireworks - new decade, do something differentIt’s a month into a new decade, stop making your life difficult and do something different. If what you …

Tax organization tip: Set up expense categories

shoebox of receipts

shoebox of receiptsDo you always ask yourself is this a business expense or not? And is it deductible? It’s a common question, especially as tax resources can be a little vague with definitions or by using obscure examples not …

Why Should I Hire A Bookkeeper?

by Guest Author  |  January 19/2011  |  , , , ,
Why Should I Hire A Bookkeeper?

Guest Blogpost by Eric Mathews, author of Why I should hite a bookkeeperDuring the 34 years I’ve been around, I have come to the realization that I am an anomaly. When I was 14, and my friends were sleeping …

Saving for Taxes with FreshBooks

by John Coates  |  January 17/2011  |  , , ,
saving for estimated taxes with FreshBooks

Do you ever get stuck at tax time with not enough cash? FreshBooks CEO and co-founder, Mike McDerment, who was a freelancer, had to take out a loan every tax season because he was short on cash when taxes were due. It was an annual bummer. If you want to avoid this …

Five Money Mistakes Freelancers Make

by Guest Author  |  January 12/2011  |  , ,

6 Tips to Reduce Your Taxes

by John Coates  |  January 10/2011  |  , , ,

These tips are based on the United States’ tax system. Please talk to your accountant for specific tax advice. As a small business, nothing is more important than the preservation of Cash. Losing money to worthless expenses can literally sink a new company before it gets off the ground. Unfortunately, business taxes are …

Tax time reports in FreshBooks

by John Coates  |  January 3/2011  |  , ,

Hooray! It’s New Year! Happy New Year! You know what’s right around the corner? Tax season! Paperwork is so exciting and it just takes minutes to run all your reports. Right? This year, since you used FreshBooks so diligently, you’re going to be done in minutes, assuming all your records are up to date. If …

Part 4: Making FreshBooks work with an Accounting package (like QuickBooks)- Workflow #3 – Cash based entries

by John Coates  |  December 15/2010  |  , ,
tax summary freshbooks quickbooks

An addition to the original series on FreshBooks and an accounting package. If you’re using FreshBooks to manage your staff’s time sheets and your billing, but use an accounting package (QuickBooks) to run your more complicated back-end bookkeeping, and if you use the cash basis to record your transactions, here are some helpful …

What are your New Year tax resolutions?

by John Coates  |  December 14/2010  |  , ,
What are your New Year tax resolutions?

It’s the New Year and you know what that means! Resolutions for better bookkeeping! Fun right? Unlike the gym, you always need to do a good job on your taxes to save yourself time and save your accountant’s time, which saves you money (more six packs!) But what are you going to do this year …

“Accrual accounting was created to fill textbooks”

by John Coates  |  December 9/2010  |  , , , ,
accounting sense

“Accrual accounting was created to fill textbooks” said a CPA (Certified Public Accountant) I was chatting with on a recent road trip. Essentially, since accrual accounting is more complicated than cash basis accounting, it fills up more space in textbooks, justifying their …

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