BGH Blog Series: QuickBooks Most Common QuickBooks Mistakes - Banking
For many business owners, managing finances is the scariest aspect of owning a business. If you don’t know how to keep your finances in order, you could run into serious financial difficulties. When you own a business, you need to learn how to perform accounting and record keeping for small businesses. Most of your day-to-day accounting details can be easily tracked online via your credit card and banking records. However, it’s important to keep all this information compiled and reconciled so you can review it at a glance. Two common banking mistakes are failure to use bank feeds and not using transfers.
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IRS Issues Standard Mileage Rates For 2020
Happy New Year from our Bormel, Grice & Huyett, P.A. family to yours! As we all know, a new year comes with new tax updates, regulations, and rates. The Internal Revenue Service issued a notice (Notice 2020-05), which provides the optional 2020 standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes.
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IRS Finalizes 2020 W-4
The IRS has issued the final 2020 Form W-4, effective January 1, 2020. The form was revamped to provide more transparency and accuracy for withholding.
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