QuickBooks Cash Flow Insights

  Money comes and goes when you have a new business. As a new business owner, it's vital to know where your finances stand. QuickBooks' Cash Flow Insights can help you organize all your accounts in one place so you know where you stand financially at any moment in time. Let us know if you …

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Business Owners can Claim a Qualified Business Income Deduction

The following article was published by the IRS. Eligible taxpayers may now deduct up to 20 percent of certain business income from domestic businesses operated as sole proprietorships or through partnerships, S corporations, trusts, and estates. The deduction may also be claimed on certain dividends. Eligible taxpayers can claim the deduction for the first time …

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IRS Waives Penalty for Many Whose Tax Withholding and Estimated Tax Payments Fell Short in 2018

The following article was published by the IRS.  The Internal Revenue Service is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year. The IRS is generally waiving the penalty for any taxpayer who paid at least …

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Here’s How Tax Reform Changed Accounting Methods for Small Businesses

The following article was published by the IRS. The Tax Cuts and Jobs Acts – better known simply as tax reform – allows more small business taxpayers to use the cash method of accounting. Tax reform now defines a small business taxpayer as a taxpayer that has average annual gross receipts of $25 million or …

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