What Net Payment Terms Are Best to Use for Your Business?

You are about to land a major new client. Now it is time to negotiate the final contract. It is important to define your payment terms at this stage, but what terms are best for you? Most companies, especially if

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Cash Flow | Six Tips for Better Cash Management

As a business owner, you have heard the old adage “cash is king.” If you are a seasoned business owner, you’ve probably lived through some lean years. A great way to weather the occasionally stormy waters of business ownership is

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Gambling Winnings and Taxes

It’s Preakness Week in Maryland. Just Remember: Big Winners Owe Taxes! Baltimore’s Pimlico Race Course hosts the second leg of the Triple Crown this week. If you are lucky at the track, pick the winner, and win big, you must

Posted in General Tax Tips & News, QuickBooks tips

Tax Planning and Recordkeeping Tips for After Tax Season

With your just-completed tax filing, you may not want to think about taxes and your finances. However, now can be a great time to review your tax planning and recordkeeping process and to take stock of your personal finances. Review

Posted in General Tax Tips & News, Personal Budget, QuickBooks tips

Tips for Last Minute Tax Prep and Beyond

The IRS is giving tax-prep-procrastinators a little more time this year. Since April 15 falls on a Saturday, the IRS changed the tax filing deadline this year to April 18. If you are working up to the last minute to

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Eight Ways to Lower Your Home’s Utility Bills

Save Money With Lower Utility Bills Well, they say the groundhog saw his shadow and we’ll have six more weeks of winter. If we are indeed going to see cooler temperatures, here’s how to reduce your heating bills. In case

Posted in Personal Budget

Payroll Service Options for Small Businesses

To select the best payroll service for you, consider your needs. If you employ individuals to support your business or your home life, you know that payroll can be complex and time-consuming. Without a payroll service, you must: compute the

Posted in Small Business Accounting Tips

Maximize Charitable Contributions to Lower Taxes

In December, many of us increase our charity giving. Some reports reveal that 75% of taxpayers in the U.S. donate to charities during this last month of the year. If you want to support a favorite charity and lower your

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Five Tax Tips for End-of-Year Planning in 2016

Consider Potential 2017 Tax Cuts in Year End Tax Plans No one can predict with certainty how the new leadership in Washington will change taxes. The odds are strong that taxes will be lower next year. Both President-elect Trump and

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Claiming Elderly Parents as Dependents on Tax Returns

As our parents age, we often provide help. If you provide financial help to your parent, you may be able to deduct some of those expenses on your taxes. To claim an elderly relative, the supported-individual must meet several criteria.

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