Stephanie Peterson

NOVEMBER 14, 2021

Any transactions that are not classified must be done before your taxes are filed to ensure accuracy. Your Accounts Aren't Reconciled It is crucial to make sure accounts are reconciled before filing your taxes. It is vital to iron out these mistakes before tax season. If so, contact me today ; I would be happy to assist you!

Virtual Bookkeeping 52

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Stephanie Peterson

MARCH 8, 2022

The Standard Tax Deduction Rises in 2022 All taxpayers are eligible to take the standard tax deduction unless they elect to itemize their deductions. Tax brackets are adjusted for inflation each year. Gift Tax Limits Rise In 2022, the annual gift tax exclusion increases to $16,000 from $15,000.

Tax 52

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Stephanie Peterson

FEBRUARY 13, 2022

If so, it is wise to stay on top of tax laws and regulations that may impact your crypto investments. Will you need to pay taxes on your crypto? Due to the fact that the IRS classifies crypto as a capital asset (a significant piece of property), you will owe taxes when you sell crypto and make a profit.

Tax 52

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Less Accounting

AUGUST 14, 2024

Outsourcing and Virtual Bookkeeping As the complexity of bookkeeping tasks increases, many small businesses are turning to outsourcing and virtual bookkeeping services for support. Data-driven decision-making is increasingly becoming a competitive advantage for small businesses in today’s dynamic marketplace.

Bookkeeping 59

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Less Accounting

MARCH 16, 2023

Even if you are a solopreneur, freelancer, or small business owner, you may need to look into how much a bookkeeper costs and if you are ready to outsource bookkeeping to a professional. There are so many great benefits to hiring a bookkeeper and the good news is that the cost is tax-deductible. What does a bookkeeper do?

Bookkeeping 52

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Remote Quality Bookkeeping

MAY 27, 2024

They must make sure that every penny is accounted for so that when it is time to file taxes, all of the information is recorded correctly and is not questioned by the IRS. If you are able to hire a local tax professional to do your bookkeeping, that is ideal. Having just a bookkeeper on staff isn’t everything either.

Bookkeeping 52

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5 Minute Bookkeeping

APRIL 20, 2023

I can empathize because I have been there, frozen with fear and scared out of my mind when I first started my virtual bookkeeping business. ” Bookkeeping clients don’t expect you to know everything. Then team up with attorneys, tax preparers, and CPAs so that you can refer your clients to them.

Bookkeeping 52

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5 Minute Bookkeeping

JUNE 12, 2023

Today I’ll help explain the different tax forms and compensation methods for each type of legal entity , including Sole Proprietorships, LLCs, S Corporations, Partnerships, and C Corporations. So keep reading or click the video below to hear my insights for bookkeepers: what you need to know about legal entities and owner compensation.

Bookkeeping 52

Bookkeeping Virtual Bookkeeping Payroll Tax 52

Stephanie Peterson

JULY 5, 2022

Whether you choose to switch from QuickBooks Desktop to QuickBooks Online, or continue to utilize the desktop version, Superior Virtual Bookkeeping can't assist you! However, that has now changed, and QuickBooks Desktop now requires a subscription similar to the online version. If so, contact me today ; I would be happy to assist you!

QuickBooks 52

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Stephanie Peterson

SEPTEMBER 21, 2021

Forgetting To Charge & File Sales Tax Before starting a business, it is important to familiarize yourself with sales tax laws and liabilities. Accounting & Bookkeeping Services by Superior Virtual Bookkeeping LLC All in all, bookkeeping is best to be left to accounting professionals.

Petty cash 52

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Remote Quality Bookkeeping

JUNE 24, 2024

Here, you’ll find a list of qualifications to think about when hiring a bookkeeper that will keep you protected and correctly informed. They have to be very knowledgeable in the tax field, on top of being able to balance bank statements, process payroll, accounts receivable and payable as well as many more tasks.

Bookkeeping 52

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Remote Quality Bookkeeping

MAY 28, 2024

When it comes to calculating sales tax in the state of New York, the former website Taxrates.com spelled it out bluntly and without pulling any punches: New York sales tax has numerous local taxing levels that must be monitored and maintained on a regular basis. So he outsources that business function. “It It’s seamless.”

Bookkeeping 52

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Remote Quality Bookkeeping

JUNE 24, 2024

Always vet your bookkeeping service for accuracy, these are just some of the reasons why, and specifically to do with payroll. Taxes Keeping track of where your money is going and coming from is the essential part of your business. Don’t wait any longer. Call us today.

Payroll 52

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Remote Quality Bookkeeping

NOVEMBER 16, 2023

Freelancers don’t require the same benefits, payroll taxes, and other considerations that full-time employees need, but you do have to make sure you have professional bookkeeping services in place before deciding to go that route. That’s why Remote Quality Bookkeeping exists: to manage payroll and taxes so you don’t have to!

Bookkeeping Services 52

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Remote Quality Bookkeeping

NOVEMBER 16, 2023

Freelancers don’t require the same benefits, payroll taxes, and other considerations that full-time employees need, but you do have to make sure you have professional bookkeeping services in place before deciding to go that route. That’s why Remote Quality Bookkeeping exists: to manage payroll and taxes so you don’t have to!

Bookkeeping Services 52

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Stephanie Peterson

JUNE 23, 2022

Financial Control: Employees Employees are paid an hourly or salary wage, and taxes are withheld from their paychecks. Clients typically do not withhold taxes when they pay an independent contractor. Independent Contractors are not instructed on how their work is to be completed and also typically work for other clients.

Virtual Bookkeeping 52

Virtual Bookkeeping QuickBooks Bookkeeping Services Bookkeeping 52

Stephanie Peterson

JULY 4, 2022

Accounting & Bookkeeping Services by Superior Virtual Bookkeeping LLC Other Interesting Articles: 4 Major Benefits of Outsourcing Your Business's Accounting 5 Common Bookkeeping Mistakes You Must Avoid How to Avoid the Pitfalls of Messy Bookkeeping Information Bookkeepers Need to be Efficient and Effective 3 Signs Your Books Aren't Ready for Tax (..)

Virtual Bookkeeping 52

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Future Firm

SEPTEMBER 27, 2023

Besides bookkeeping, they can handle other accounting tasks, with potential tax law training needed. Bench Bench is another accounting tech startup that offers outsourced bookkeeping and tax preparation services to businesses. Based in Canada, but only exclusively servicing small businesses and firms in the US.

Outsourced Bookkeeping 98

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5 Minute Bookkeeping

MARCH 25, 2021

Many clients use QuickBooks Online to manage their entire business, and need good data to be able to manage their accounts receivables, accounts payable, inventory (if they’re tracking inventory in QuickBooks), payroll, and sales taxes. Best Practices for using Journal Entries in QuickBooks Online. Adjustments to lists.

Bank Reconciliation 98

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Stephanie Peterson

JULY 21, 2022

If you don't have a reasonably strong background in accounting and business tax law, you shouldn't handle your own bookkeeping. Claiming "Charitable Contribution" Tax Deductions Although individuals are allowed to write off donations given to qualified charitable organizations on personal returns, businesses have different limitations.

Bookkeeping 52

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Stephanie Peterson

SEPTEMBER 13, 2021

Finally, having clean books simplifies making wise business choices and helps you stay organized for tax season. Accounting & Bookkeeping Services by Superior Virtual Bookkeeping LLC Located in Murrieta, CA, and servicing clients nationwide!

Bookkeeping 52

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Remote Quality Bookkeeping

JUNE 11, 2024

RM : Yes – completing the company’s tax returns for 2011, since I hadn’t documented our financials as consistently and thoroughly as necessary. It took more pain, suffering and money than I expected to finalize our taxes, and it made me realize there has to be a more efficient method.

Cloud Bookkeeping 52

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5 Minute Bookkeeping

OCTOBER 28, 2021

When it comes to paperless document management, there are several areas you need to address for virtual bookkeeping. After that, we obtain the documents we need from our clients, anything from bank statements to a copy of their last business tax return. Are you ready to work successfully with virtual bookkeeping clients?

Bookkeeping 52

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5 Minute Bookkeeping

FEBRUARY 17, 2022

Bear in mind that there are exceptions for corporations such as C-Corps, S-Corps, and LLCs taxed as C-Corps or S-Corps. But you don’t send 1099s to C-Corps or S-Corps or sole proprietors taxed as S corporations. Note that this should be the name as shown on their income tax return. What are third party networks?

Virtual Bookkeeping 52

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5 Minute Bookkeeping

MARCH 8, 2021

The goal is to reach a point where you have complete, accurate, and tax-ready financials. In the end, your client should be able to take those books and hand them over to their tax preparer, who should have to do very few adjustments in order to get the tax return done. First of all, your goal is to have tax-ready books.

QuickBooks 52

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Nanonets

MARCH 27, 2024

QuickBooks also offers custom solutions, including virtual bookkeeping, professional tax advice, and many other functions that are ideally suited for SMBs who may not fully grasp the many financial requirements they face but lack the need or funds to hire full-time help.

QuickBooks 52

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Remote Quality Bookkeeping

JANUARY 8, 2024

Also sometimes called an income statement, a P & L statement is a tool for listing out your expenses (including your operating expenses, costs of goods sold, and taxes), your revenues (including gross sales and any other forms of income), your gross profit, and your net income. Net Profit Your net profit is your bottom line.

Virtual Bookkeeping 52

Virtual Bookkeeping Bookkeeping Financial Statements Financial Reporting 52

Remote Quality Bookkeeping

MAY 28, 2024

Normally, average sized companies that don’t need an accountant will hire a full charge bookkeeper , and they take care of tasks like preparing financial statements, preparing tax returns at the end of the year, accounts payable, and more. appeared first on Remote Quality Bookkeeping.

Bookkeeping 52

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Cloud Accounting Podcast

APRIL 7, 2019

The software combo will automatically crunch the consumers' capital gains and losses numbers and generate the necessary tax documents including the IRS form 8949. 19:21 -- This past week at SuiteWorld, NetSuite announced a new, free benchmarking and research service for NetSuite customers called Brainyard.

CPA 40

CPA Virtual Bookkeeping Account Reconciliation Accounting Software 40

Stephanie Peterson

SEPTEMBER 9, 2021

Accounting & Bookkeeping Services by Superior Virtual Bookkeeping LLC I am an Advanced Certified QuickBooks ProAdvisor and specialize in working with clients who have QuickBooks Online, QuickBooks Desktop (PC & Mac), QuickBooks Enterprise, and QuickBooks Premier.

Virtual Bookkeeping 52

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Remote Quality Bookkeeping

APRIL 17, 2023

There are expense reports, profit and loss statements, tax preparations, monthly budgets, and other documentation required by the government, business investors, and other stakeholders. One solid strategy could be hiring a remote bookkeeper through Remote Quality Bookkeeping.

Accounting 52

Accounting Accounting Bookkeeping Payroll 52

Remote Quality Bookkeeping

NOVEMBER 16, 2023

The services offered by the remote bookkeeping company are designed to make your life easier and assist you in running the financial side of your business, from paying your bills for you to helping you prepare for taxes to checking your reconciliations. appeared first on Remote Quality Bookkeeping.

Bookkeeping 52

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Remote Quality Bookkeeping

NOVEMBER 16, 2023

The services offered by the remote bookkeeping company are designed to make your life easier and assist you in running the financial side of your business, from paying your bills for you to helping you prepare for taxes to checking your reconciliations. appeared first on Remote Quality Bookkeeping.

Bookkeeping 52

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5 Minute Bookkeeping

JULY 29, 2021

This includes considering how it may affect prior tax returns or the reconciliation to the tax return balance sheet. My 5MB Academy includes both free and paid resources for virtual bookkeepers, so make sure to check it out. Tip #6: How do I know when I’m finished?

Deposits 52

Deposits QuickBooks Reconciling Invoicing 52

Future Firm

APRIL 4, 2022

4) If you provide tax preparation services, they’re a great way to avoid a crazy tax season. A hectic tax filing season exists because many accounting firms don’t have enough money coming in throughout the year, so they have to jam as many tax returns as possible into a short tax season just to bring in additional revenues.

Bookkeeping 98

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Cloud Accounting Podcast

MARCH 21, 2020

David Leary: [00:02:39] So, last week, all this tax change, and deadlines, and all these things kept coming out, and I was like, "Oh, I should get Kelly on again." She writes for Forbes, and she writes for Bloomberg Tax. This hasn't been finalized yet," from the tax situation. I regale them with tax stories.

Tax 40

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Cloud Accounting Podcast

AUGUST 25, 2020

All right let's talk about what's going on with tax, IRS, payroll tax. million Americans are getting a tax refund interest. They're gonna pause these collections notices while they work through their backlog. [00:19:21] That was causing a ton of confusion for tax preparers and for their clients. The ACLU is against it.

Accounting 40

Accounting Accounting QuickBooks XERO 40