technology insights
What entertaining costs are allowable?
Staff entertaining is generally considered to be an allowable business expense and is therefore tax deductible. Allowable costs in this context include fo...
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Technology Insights
technology insights
Is payroll tax expense a debit?
Adjusting Entries Post your employer tax contributions as a debit to the payroll tax expense account. Taxes that are withheld from an employee paycheck ar...
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technology insights
Why are so many people moving Florida?
About 900 people a day are moving to Florida, the state’s CFO, Jimmy Patronis, told Fox Business on Monday, attributing it mainly to higher taxes in state...
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technology insights
What happens if I take money out of my Roth?
You can withdraw contributions you made to your Roth IRA anytime, tax- and penalty-free. However, you may have to pay taxes and penalties on earnings in y...
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technology insights
How do you say thank you for receiving a gift?
Examples “You’re the best.” “I’m humbled and grateful.” “You knocked me off my feet!” “My heart is still smiling.” “Your thoughtfulness is a gift I will a...
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technology insights
How do I fill out a profit and loss statement for self employed?
Let’s have a look at the basic tips to build a profit and loss statement: Choose a time frame. List your business revenue for the time period, breaking th...
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technology insights
Can you do LLC taxes on TurboTax?
Choose TurboTax Home & Business if you have a single-member LLC that is treated as a sole proprietorship. If you own an interest in a multiple-member ...
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technology insights
What should I put as my occupation on my tax return?
Your occupation is whatever you want to enter on your tax return. It doesn’t matter what you enter. Just enter your W-2 occupation. Is paying a consultant...
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technology insights
Can you trade options in a SEP account?
“Yes, you can trade options in IRAs,” says Mike Scanlin, CEO of Born To Sell, an online service for covered-call traders. “Covered calls are by far the mo...
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technology insights
How to pay the IRS as a non-filer?
First, visit IRS.gov, and look for ” Non-Filers: Enter Payment Info Here.” Then provide basic information including Social Security number, name, address,...
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