Tag: QuickBooks Consultant

How Stay-At-Home Orders Change Money Habits

How Stay-At-Home Orders Change Money Habits

The most fruitful periods of growth often happen when they are the least expected. Teachers and parents call them teachable moments. By reflecting on how you handle the situation, you can learn a lot about yourself. The disruption caused by this year’s pandemic is a massive teachable moment for all of us regarding money. Here are three ways you can…

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Protect Your Medicaid Identity from Scammers

Protect Your Medicaid Identity from Scammers

With more than 40 million Americans seeking unemployment benefits over the past 2 months, states are doing their best to keep up with the avalanche of applications. States are also bracing for an increase in Medicaid enrollment as many Americans get pushed off their employer’s health care plan. If you need to apply for Medicaid, here’s how you can protect…

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Seeing Inside the Mind of the IRS

Seeing Inside the Mind of the IRS

While most of us are never audited, when it happens it can feel a lot like a lamb thrown in the room with a lion. The IRS auditor does these audits every day. They know what to look for and can ask leading questions that you may easily answer incorrectly. So what are some good tips when you are in…

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Should you Incorporate your Business?

Should you Incorporate your Business?

If you’re a sole proprietor, you have probably wondered at some point whether you’d be better off if you incorporated your business. Here are some facts for you to consider. The single biggest benefit of incorporating a business is limiting an owner’s liability. In theory, a stockholder in a corporation risks only his or her investment in the corporation stock.…

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Conquer Student Loan Debt

Conquer Student Loan Debt

Obtaining a legitimate college degree is an expensive proposition. Many will be paying off student loans —month after month, year after year —for decades. With smart financial management, graduates can liquidate their college debt in a reasonable time, freeing up cash for other priorities. Here are four tips for paying off loans quickly and efficiently: Build a budget. Get a…

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Ideas to Improve Profit

Ideas to Improve Profit

Consider the following ideas for saving time and money and making your business more profitable. 1. Develop tight controls over billing and collections. To speed up cash flow, reduce the time between shipping your product and sending an invoice. Consider semimonthly instead of monthly billing, and send second notices more quickly. 2. Collect past-due receivables. Almost every business has past-due…

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Your 2019 Social Security benefits recap

Your 2019 Social Security benefits recap

The Social Security Administration (SSA) made a 2.8 percent increase to monthly Social Security and Supplemental Security Income (SSI) benefits for 2019. Take a look at some of the most significant changes as you create and update your financial plan for 2019: 2019 Social Security benefit highlights Up to $132,900 in wages will be subject to Social Security taxes (up…

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2018 Executive of the Year

2018 Executive of the Year

We are delighted to announce that our own L. Scott Elwell has been recognized as a “2018 Executive of the Year” by South Jersey Biz. Scott has been ranked one of twenty-two leaders who excel in shaping the future of business in South Jersey. This achievement is such an honor and our team couldn’t be more proud! Congratulations, Scott! Below…

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2018 Tax Highlights – What You Need to Know

2018 Tax Highlights – What You Need to Know

2018 is filled with more dramatic tax changes than we’ve faced in over 20 years! Here’s a quick video that goes through the highlights and remember, you can always reach out to use to schedule a meeting if you want to go over these changes and how they affect you and your business specifically. Business Accounting Systems, P.C.: Client Videos

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Schooling Your Children on Money Matters

Schooling Your Children on Money Matters

Teaching your child about money and finances is easiest when you start early. Here’s a quick review of what you should teach your children at each age if you want them to become financially competent adults: Preschool Identify coins and bills, and learn what each is worth. Understand that you can’t buy everything (choices are necessary). Save money in a…

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Make sure you’ve got a plan for your RMDs

Make sure you’ve got a plan for your RMDs

After all the advice you’ve received about saving for retirement, taking money out of your traditional IRAs and other qualified retirement plans may feel strange. Yet once you reach 70½, the required minimum distribution (RMD) rules say you have to do just that. Under these rules, you must withdraw at least a minimum amount from your retirement plans each year.…

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Your child wants to start a business. Now what?

Your child wants to start a business. Now what?

Has your child asked for your help with starting a business? If the answer’s yes, chances are you may not know where to start. Since the failure rate for new businesses is high, it would be supportive for you to do whatever you can to increase your child’s chances of success. That includes considering the following: Find out what groundwork…

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