• How Long to Keep Records

    How Long Do I Keep Records Our standard answers… 3 years is the Statute of Limitations for audit purposes (from the due date of the return or the filing, whichever is later). 4 years for Employee Records 6 years if there is a 25% understatement of income (accidental, misinterpretation of tax law, bookkeeping error, involved in one…

  • Independent Contractor or Employee

    Click here for discussion of Independent Contractors (or not) versus Employee […]Read More… from Independent Contractor or Employee

  • Cash vs. Accrual Basis

    In the Simpliest Terms……. CASH BASIS REVENUE means you declare it when you RECEIVE the money. ACCRUAL BASIS REVENUE means you declare it when you EARN the money (usually that is when the invoice is generated whether you receive a portion of the money or none at all at the time the invoice is generated). CASH BASIS EXPENSE means you expense it when you PAY it.…

  • Quickbooks®

    We have the latest Quickbooks editions.  We recommend you have the online version… give us permission and we can go online to assist. Additionally, we can come to your place of business for personalized instruction. […]Read More… from Quickbooks®

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