Articles

  • Managing the Purchasing Cycle Using QuickBooks
  • Maintaining relationships with business vendors is a lot different than maintaining relationships with vendors you use at home.  While a typical household may have 5-6 vendors, it is not unusual for a small business to have over a hundred vendors by the end of their first year in business.  It becomes impossible to keep track […]Read More
  • Qualified Small Business Stock and Code Sec 1244 Stock
  • Small businesses are the backbone of the American economy and Congress has enacted several pieces of legislation aimed at encouraging investment in small business enterprises.  Taxpayers that make investments in small businesses may be able to exclude a portion of the gain or obtain special treatment for losses.  Taking advantage of these tax incentives can […]Read More
  • What’s This Fiscal Cliff All About Anyways?
  • Year-end tax planning is always complicated and 2012 is no different. There is a great deal of apprehension about this “Fiscal Cliff” we keep hearing about. A combination of events – including possible expiration of some or all of the “Bush-era” tax cuts, the imposition of new Medicare taxes on investment and wages, doubts about […]Read More
  • Practical Application of the Principle of Periodicity
  • The principle of periodicity is one of those underlying assumptions professionals respect when they are designing accounting systems.  It relies on the notion that a company’s lifespan can be divided into meaningful periods and states that each accounting entry should be allocated to a given time period, or split accordingly it if covers several time […]Read More
  • Form 1099-MISC Reporting Requirements
  • The passage and subsequent repeal of legislation adjusting the reporting requirements for certain rental property expenses led a lot of companies to reassess their 1099-MISC reporting protocols in 2012.  The net result of the congressional action has been to leave the reporting requirements in the same condition they have been in for the past 25 […]Read More