Category Archives: General

Bookkeeping and Tax Prep Tips for Small Businesses #5

The IRS has provided information regarding using W-2 information as an approach for scamming for identity theft as the example above shows.  The scam could be something like what appears to be a company executive requesting a payroll employee to … Continue reading

Update your W-4’s (for businesses and individuals)

With the passage of the “Tax Cuts and Jobs Act of 2017” personal taxes for individuals and allowable deductions changed significantly.  With that change, the IRS suggested that EVERYONE check their W-4 filings in 2018 with their employers.  And further, … Continue reading

Bookkeeping and Tax Prep Tips for Small Businesses #4

Organize your Income documents. In a filing cabinet, make separate folders for different kinds of Income documents: Work In Progress folders by Client (like Estimates, unfilled Purchase Orders, Sales Orders, etc) Invoices Waiting on Payment Paid Invoices by Client (sort … Continue reading

Bookkeeping and Tax Prep Tips for Small Businesses #3

Organize your receipts, bills, etc. on a daily basis, preferably by vendor and expense type. It will save you time at the end of the year when you file your taxes. Make folders for your documents: Vendors A Vendors B … Continue reading

Bookkeeping and Tax Prep Tips for Small Businesses #2

Reconcile. The best way to know that all transactions and account balances are correct is to reconcile ALL accounts when you receive the statements.  This will help you catch any mistakes and keep you from over/understating your income and expenses.

Bookkeeping and Tax Prep Tips for Small Businesses #1

Separate your business account and personal account Pay yourself regularly. Either with Owner’s Draw, Shareholder’s Distribution or a Paycheck. Spend the money in your personal account ONLY for personal use. Spend the money in your business account ONLY for business … Continue reading

We’ve Moved!

We are so excited to be settled in at our new location.  Please update your contact information as our address and number has changed. Efficiency Counts Inc 1401 N Elm Ave Hastings,NE 68901 (402) 460-6355

QuickBooks Connect in San Jose, CA

October 22-27, 2016, I journeyed once again to San Jose, CA for the annual QuickBooks Connect Conference. It’s always a pleasure to join my friends and colleagues and 5000+ other QuickBooks experts to learn more and serve you better!

Efficiency Counts Business Focus Interview (on the radio)

Tax Time Alert

Before you file your tax return, remember to: RECONCILE, RECONCILE, RECONCILE The Bank Statements The Credit Card Statements The Loan Statements The Accounts Receivable The Accounts Payable The Sales Tax The Payroll Tax The Undeposited Funds Leave no “Widows and … Continue reading