March 3, 2017
Let me preface this entry by stating that this post is not brought to you by the good people of Inuit, but odds are very good that if you are an existing business client of ours, then QuickBooks is the accounting software we are using. For both new and existing clients, there has been an inexorable push towards using QuickBooks Online (hereafter “QBO”). The reasons for doing so are myriad, but chiefly among them are convenience of access and informational integration. No more worries about the number of software licenses needed, as any device that can connect to the internet and pull up a browser can provide access to your company’s books. If you are not currently using QBO, but have an interest, we are happy to and want to help you with that transition.
QBO usage is just the beginning. Like everything else accessible on mobile devices, there are a litany of both Intuit-created and third-party applications designed to make life better: tools for KPI monitoring and translating financial data into graphs and reports that are easily digestible, tools for time tracking, tools for invoice tracking/uploading and bill payment. It is both awesome and overwhelming. A quick look at https://apps.intuit.com/ will provide access to more than 400 apps.
Please take a moment and think about your relationship with your monthly activity. As I’ve heard the question asked, “Where’s your pain point?” What takes too long each week? Each month? The use of apps may simplify the process, but not without cost. We want to help with product evaluation. Whether it is that you have a specific application in mind, are looking for recommendations, or simply want to talk about how to continue to grow and evolve with available technology, please call us and we will happily guide you through the process. Let’s work smarter together!
As the month “Marches” on, and we at LBF are in full tax season mode, we want to remind those of you whose returns we have finished to please get us your 8879 electronic filing form ASAP so we can file your return (which we will not do without this form), and assure your filing is timely. Also, remember that even if you owe taxes (we hope you don’t), the IRS will not be...
Many people receive tax refunds from the IRS and wonder how long it will take to receive your refund. You wait by the mailbox or look at your bank account hoping that your refund is there. We will fill you in on the tax refund schedule and how long it takes for the IRS to issue refunds.
When Are Taxes Due?
The deadline to submit your 2018 tax return and pay...
As you are collecting your tax documents for this year’s tax return (or stuffing them in a file drawer if your return has already been filed), you may be wondering: “How long to I need to keep this stuff?”
The general rule is that you should keep all documents that prove the information on your tax return until that return can no longer be audited, and interest and...