In the July 2015 issue of The General Ledger, a newsletter published by the American Institute of Professional Bookkeepers, they warn that the IRS is now pursuing criminal charges against businesses that fail to pay payroll taxes. This is a new, harder approach than...
To recap our previous discussion of assets, assets are defined as things with current or future economic value. Fixed assets are items your business owns that you actually use in your business. Examples of fixed assets are: Office equipment like copiers and fax...
Assets are things that have current or future economic value. Cash and money in depository bank accounts (checking, savings, CD’s) are your most liquid assets. Accounts receivable (A/R) are also assets. Billing a customer and giving them terms to pay like net 30 days...
Automobile expenses are handled differently depending on whether a vehicle is owned by the business or by you personally. If a vehicle is owned by your small business, most of the expenses associated with it will be deductible. Fuel, maintenance, repairs, insurance,...
Intuit, the parent company of Quick Books, published a primer on fraud protection. In it, they cite the 2014 Association for Financial Professionals Payments Fraud and Control Survey. According to this survey, 60% of businesses experienced actual or attempted...
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