Bookkeeping and accounting that had been associated with, reams of papers, books and cabinet of files, binders a good 60 years back has come a long way with the help of technology. What started with simple paper, pen and pencil evolved into manual and digital spreadsheets, accounting software and today, cloud accounting – all in […]
Poor cash flow management is one of the most common reasons why the majority of the small businesses experience turbulence, de-rail and eventually fail. According to research, poor cash flow management is responsible for the failure of more than 82% of the businesses in the United States alone. If you are a small and medium […]
Tax filing and preparation has always been a challenging task for small business owners. Not only it is complicated riddled with many intricacies, but it also puts an extra burden on the workforce without any additional benefit. Add the slew of business tax updates and tweaks in the wake of COVID-19 pandemic, the complexity of […]
Quick Books is widely considered as a powerful accounting software applications available today for businesses of all sizes and types. By simplifying and streamlining the accounting and reporting, QuickBooks available now is different versions make the entire process of financial management simple. We folks at Outsourced Bookkeeping use it extensively for our bookkeeping and accounting […]
The tax filing season has begun and 1099 reporting is soon approaching its deadline. And our accounting team at Outsourced Bookkeeping has successfully helped hundreds of businesses get over the line with accurate and efficient 1099 reporting in shortest possible time. Our accounting team has significantly cut the cost, saved time, got rid of the […]
If you are one among the 50 million+ independent contractors or freelancers then there you sure must be aware of the impending arrival of 1099s and W-2s from your clients or employers this month. While no one is a fan of these tax forms, they can be quite complex right from on the onset and […]
Imagine toiling hard for days at a stretch to get your taxes done digging all the financial data possible and on a fine day you receive a mail from IRS about the mistake in your tax filing. While the mistake can be rectified, it can invite penalties, delay your tax refund or even invite IRS […]
Tax season 2020-21 is going to be one of the most complex tax seasons in recent years. Be it due to the updated tax rules and regulations, change in the way business operated, and tax provisions provided by CARES Act for businesses and individuals, the tax planning for the year has to be reconsidered with […]
As we feel a slight sigh of relief with the end of the year 2020, there is this one last thing that belongs to 2020 we all get past of: tax filing for 2020. While the tax planning strategies remain same, there have been ample changes to tax rules and regulations in the year 2020 […]
If there is anything certain in life, it has to be the taxes. Even in the year 2020 where the pandemic has turned the world upside down, tax filing for businesses is a sure thing that must be carefully complied with. However, the upside of 2020 is that a business can make use of tax […]
