What are the 2019–2020 compliance deadlines?

… January 15, 2020 Deadline to make estimated tax payments for the 4th quarter of 2019. … January 31, 2020 Deadline to distribute annual wage and tax reports to employees and independent contractors who did work for you in 2019. Deadline to submit transmittal forms for W-2s to the Social Security Administration (Form W-3, all [Read More]

It’s Almost Time for 1099’s

December 5, 2019Kristie Van Pay, Prosperity Bookeeping LLC January is fast-approaching and that means it is almost time to send out 1099’s to some of your vendors. Check out my latest video for more information or continue reading below! To whom are you required to send a Form 1099-MISC? As a general rule, you must [Read More]

End-of-Year Accounting Checklist

Review profits & lossesThe first thing you should do after this checklist is review your profit and loss statement. It’s a good practice to see how you’re spending your money and if your expenses are categorized. If you haven’t already, you may want to reconcile your bank accounts and receipts. Collect W-9sDid you use vendors [Read More]

Are You Making This Common Credit Card Mistake in QuickBooks?

Here’s the proper way to manually record credit card transactions in QuickBooks Online Written by: Kristie Van Pay, Prosperity Bookkeeping LLC November 6, 2019 A common mistake I often see QuickBooks users make is to record their credit card transactions on the check they write to the credit card company. They enter a check in [Read More]

Most People Think Accountants Are Too Expensive. We Agree.

The Right Bookkeeper Can Actually Lower Your Cost of Doing Business There are those business owners who like to do their own bookkeeping. There are others who find a friend or family member who is willing to help out for awhile. There are still others who keep meticulous file folders for each month of the [Read More]

5 Steps for Effective Delegation

If you have ever had the pleasure of training a new staff member or co-worker, you know that the process can be tedious, time consuming, costly and a source of frustration for both the trainer and the trainee. So frustrating, in fact, that it actually caused me to go through a vicious cycle in my [Read More]

Did You Know You Can Pay Your Estimated Taxes Online?

If you are a business owner, you have likely had the pleasure of being told by your accountant at one time or another that you need to (or at least should) send in estimated tax payments periodically (usually quarterly) for income taxes on your earnings. What are estimated tax payments? According to Investopedia, estimated tax [Read More]