General Topic

/General Topic

How can a small business owner manage an employee benefit plan?

For a small business owner, managing employee benefits can be a daunting task. Is there a simple solution? Yes! At ColvinCPA, we are constantly searching for apps and technology that can make life easier for our clients! If you use Gusto's payroll services, you need to know that they now manage employee benefits at NO [...]

By | July 14th, 2019|General Topic|0 Comments

What is the easiest way to save your receipts electronically?

Is there an EASY way for a small business of 1-3 people to save receipts? Yes! At ColvinCPA, we are constantly searching for apps and technology that can make life easier for our clients! If you use Xero accounting software, the simplest solution is called Xero Expenses. Xero Expenses costs an additional $30/month on top [...]

By | July 14th, 2019|General Topic, Self Help|0 Comments

Do you know where all of your business receipts are?

Making life easier; how to organize receipts. If your answer is yes, we recommend that you do a happy dance and give yourself a high five! If your answer is no, and the question makes your heart race, causes hair loss, initiates sobbing or you found yourself involuntarily banging your head on a wall, then [...]

By | June 22nd, 2019|General Topic|0 Comments

Congress just took a bite out of the Meals and Entertainment Deductions

  New tax reform is putting stricter limits on what your business can deduct for meals and entertainment. Business meals with clients and meals while travelling (50% deductible) – Nothing changed with these business expenses. They are still 50% deductible. Entertainment events (0% deductible) - Taking your clients to ball games, concerts, or other types [...]

By | January 23rd, 2018|General Topic|Comments Off on Congress just took a bite out of the Meals and Entertainment Deductions

How to Pay Yourself as a Sole Proprietor (so you can buy ice cream)

Sometimes it can be confusing on how to properly withdraw money from your business and record the transaction in Xero. Below are the top questions that I get asked on this topic. Let’s tackle them one at a time. First, what the heck is a “Sole Proprietor”? Per the IRS “A sole proprietor is someone [...]

By | July 21st, 2017|General Topic, Self Help|0 Comments

2 Steps To Help Dodge A Tax Scam

While I am cramming my summer to-do list with fun biking destinations, tax scammers are making their summer to-do list with malicious schemes that try to get your personal data or money. This summer, a tax-scammers evil to-do list may include the following: Pretend to be a co-worker or boss and send e-mails that request [...]

By | June 27th, 2017|General Topic|0 Comments

10 Recommendations for An Easier Tax Filing in 2018

The 2017 tax filing season is now over and many people are restocking the stash of chocolate in their homes (including the secret one hidden above the washing machine). You are not alone if you treat tax symptoms with creamy, sweet, heavenly chocolate.  Tight shoulder muscles? Crunch on a dark and nutty chocolate chunk. Elevated [...]

By | May 23rd, 2017|General Topic, Self Help|0 Comments

Your employees need a path to success

You should never give an employee a raise, they should earn it. As a business owner, you should be able to define whether or not an employee has earned a raise. Your employees will also love knowing which skills they need to gain in order to accept more responsibilities and more pay. Having a clear [...]

By | June 9th, 2016|General Topic|0 Comments

What you need to know about 1099s so you don’t blow a breaker.

It’s that time of year again. Nope, I’m not talking about the fury of excitement getting the holiday lights just right so they don’t blow a breaker. It’s time to look at your vendors and determine if you are required to issue them a 1099-MISC for services rendered. Here are a few things to keep [...]

By | December 10th, 2015|General Topic|0 Comments

Why you should keep your personal and business expenses separate.

It’s Friday night and you are on the way home after a great week running your own business. You stop by the store to pick up a few provisions to make it through the weekend (chips, beer, diapers, it depends on your situation). You rush to the teller and start fumbling through your wallet and [...]

By | November 11th, 2015|General Topic, IRS News, Screen Casts, Self Help|0 Comments