Hired Your First Employee? Your Tax Obligations

Hired Your First Employee? Your Tax Obligations

It’s a major milestone for you, but it comes with a lot of paperwork that must be done correctly. Bringing a new employee into your business is a reason to celebrate. You’ve done well enough as a sole proprietor that you can’t handle the workload by yourself anymore....
Recording Simple Expenses in QuickBooks Online

Recording Simple Expenses in QuickBooks Online

Tracking even the little expenses is important. How do most of the money you owe individuals and companies get disbursed? Do you print checks, or write them by hand? Use credit cards? Pay online through your bank’s website? Keeping track of your outgoing funds can be...
Are You Protecting Yourself from Tax Identity Theft?

Are You Protecting Yourself from Tax Identity Theft?

The IRS has thwarted some identity theft attempts, but thieves are still stealing billions of dollars every year from taxpayers. Another annual income tax deadline has come and gone. Maybe you had to pay in, but perhaps you were owed a refund. If the latter is true,...
Paying Estimated Taxes? When You Should

Paying Estimated Taxes? When You Should

It’s not just the self-employed who must submit estimated taxes. IRS obligations are pay-as-you-go. Much as we may grumble about them, estimated taxes and payroll withholding are good things. Imagine preparing your taxes in April having not paid in anything through...
When a Hobby Becomes Business

When a Hobby Becomes Business

A Hobby Becomes Business When?  A few dollars here, a few dollars there. What do you do when the money from a hobby starts to add up? Maybe you didn’t consider it a real business when you first started working on friends’ computers or building birdhouses or designing...