Our bookkeeping services are offered through Quckbooks online. The financial documents we can provide include but not limited to: Balance sheet Profit & Loss Expense reports Expenses by Vendor Summary Cash flow A/R & A/P Monthly sales report Monthly reconciliation […]
Why bookkeeping?
Why do you need to do bookkeeping? Why is it important for your business and its success? There are several reasons for this, but some of them that you may think about include the following: Bookkeeping helps you manage your […]
2024 tax revision
2024 tax revision It is expected that there is going to be tax revision in 2024 mainly targeting businesses and high-income individuals. For example, the corporate income tax rate (which is currently 21%) is about to increase to 28%. As […]
EV tax credit in 2023: up to $7500
The IRS has announced a $7,500 tax credit benefit for those who meet the following criteria: Those who purchased a new, qualified plug-in EV or fuel cell electric vehicle (FCV) in 2023 or after sorely for their own use (not […]
COVID-19 relief package: No stimulus checks but it offers a $300 bonus to unemployment benefits
A bipartisan group of lawmakers unveiled a $908 billion coronavirus rescue package Monday, with a potential deal coming down to the wire since Congress has until the end of the week to strike an agreement that can be tied to […]
PPP Loan Application Form 3508S: Forgiveness Simplified
If you received a Paycheck Protection Program loan for less than $50,000, your forgiveness process just got easier. On October 8, the Small Business Administration (SBA) released PPP Loan Forgiveness Application Form 3508S which requires fewer calculations and less documentation for borrowers. […]
PPP Forgiveness: 8 Weeks vs. 24 Weeks
The Paycheck Protection Program Flexibility Act made some significant changes to PPP loans. One of the biggest changes was to the eight-week forgiveness period. If you were assigned a PPP loan number or or before June 5, 2020, you now have the […]
PPP Loan Program Extended; Loan Data Released: What Small Businesses Need To Know
On Saturday July 4, 2020, President Trump signed a new law extending the deadline for applying for a Paycheck Protection Program (PPP) loan from June 30 to August 8. This extension comes on the heels of new Interim Final Rules […]
2019 Tax Law Changes
2019 Tax Law Changes Businesses 1. Schedule C-EZ Obsolete Schedule C-EZ is the simplified version of IRS Schedule C, Profit or Loss from Business (Sole Proprietorship). For 2019, the IRS has discontinued Schedule C-EZ, so the long form most be […]
License Classes for Beer, Wine, Liquor Sales in New York
1. License class for beer sales. The New York Liquor Authority recognizes and awards ten different classes of license for the sale of beer. You need to consider the type of establishment you wish to operate and apply for the appropriate […]