Eventide Bookkeeping, LLC

Economic ups and downs happen, but staying on top of your finances and efficiency can help your business stay strong. Read our new blog post to help your business stay strong no matter what the economy does. https://lnkd.in/g-mhHj8v . . . #BusinessFinance #BusinessSuccess #BusinessBookkeeping #BusinessAccounting #Bookkeeping #Accounting #SmallBusiness #QuickBooksProAdvisor #SmallBusiness #WomanOwnedBusiness #healthcareprofessionals #mentalhealthprofessionals #healthcare #WestminsterBookkeeper #ColoradoBookkeeper #EventideBookkeeping

Many business owners assume that every business purchase qualifies as a tax deduction, but that is not always the case. The IRS has strict rules on what can and cannot be deducted! To be deductible, an expense must be both ordinary and necessary. An ordinary expense is one that is common in your industry, while a necessary expense is essential for business operations. If an expense is used for both business and personal purposes, such as a car or phone, only the business portion is deductible. It is important to keep clear records to separate personal and business use. Meals and entertainment expenses also have limitations. If you take clients to dinner, only fifty percent of the meal may be deductible. Entertainment expenses, such as event tickets, are usually not deductible. Certain clothing and gifts have restrictions as well. A branded t-shirt may qualify, but a full wardrobe does not. Client gifts over twenty-five dollars are only partially deductible. Keeping proper records and working with a tax expert can help ensure that you maximize deductions while staying compliant with tax regulations. If you are unsure about what qualifies as a deduction, let’s chat! https://lnkd.in/gQ5aZ5cu . . . #BusinessTaxes #Taxes #BusinessBookkeeping #BusinessAccounting #Bookkeeping #Accounting #SmallBusiness #QuickBooksProAdvisor #WomanOwnedBusiness #healthcareprofessionals #mentalhealthprofessionals #healthcare #WestminsterBookkeeper #ColoradoBookkeeper #EventideBookkeeping

Don’t miss the deadline! Staying on top of deadlines is key to avoiding late fees, penalties, and unnecessary stress. Mark these important dates on your calendar and share this post! . . . #BusinessTaxes #TaxSeason #BusinessBookkeeping #BusinessAccounting #Bookkeeping #Accounting #SmallBusiness #QuickBooksProAdvisor #WomanOwnedBusiness #healthcareprofessionals #mentalhealthprofessionals #healthcare #WestminsterBookkeeper #ColoradoBookkeeper #EventideBookkeeping

Tax season is prime time for scammers pretending to be the IRS to trick business owners. Remember legitimate IRS letters will come by mail. If you suspect a scam, report it to the IRS at irs.gov or the Treasury Inspector General for Tax Administration. If you're unsure about a tax request, verify directly with the IRS at irs.gov. . . . #TaxSeason #TaxTip #BusinessBookkeeping #BusinessAccounting #Bookkeeping #Accounting #SmallBusiness #QuickBooksProAdvisor #WomanOwnedBusiness #healthcareprofessionals #mentalhealthprofessionals #healthcare #WestminsterBookkeeper #ColoradoBookkeeper #EventideBookkeeping

Maximizing your contributions not only helps you build long-term wealth but also reduces your taxable income.  If you’re not already taking full advantage of your 401(k), now is the time to plan ahead. Are you increasing your contributions this year?  Have questions? Contact us today! https://lnkd.in/gQ5aZ5cu . . . #Retirement #Taxes #BusinessBookkeeping #BusinessAccounting #Bookkeeping #Accounting #SmallBusiness #QuickBooksProAdvisor #WomanOwnedBusiness #healthcareprofessionals #mentalhealthprofessionals #healthcare #WestminsterBookkeeper #ColoradoBookkeeper  #EventideBookkeeping

Not all payment methods are created equal when it comes to tracking expenses and maximizing tax deductions. Here’s a breakdown of the best options: - Credit cards are one of the best options because they create a clear record of every transaction, provide monthly statements, and categorize expenses automatically. This makes tracking deductions much easier. - ACH bank transfers are also a great choice since payments are made directly from a bank account, making them easy to record. - Debit cards work similarly to ACH transfers but do not offer the same fraud protection or rewards as credit cards. - On the other hand, checks can be harder to track since they take longer to process and require manual recording. - Cash is the most difficult to manage for tax purposes. Without proper receipts, it can be nearly impossible to track and claim deductions. Keeping organized financial records ensures that business expenses are properly accounted for and helps avoid surprises during tax season. Working with a bookkeeper can make the process even smoother and help ensure everything is tracked correctly! https://lnkd.in/gQ5aZ5cu . . . #BusinessExpenses #Expenses #BusinessBookkeeping #BusinessAccounting #Bookkeeping #Accounting #SmallBusiness #QuickBooksProAdvisor #WomanOwnedBusiness #healthcareprofessionals #mentalhealthprofessionals #healthcare #WestminsterBookkeeper #ColoradoBookkeeper #EventideBookkeeping

If your accountant is retiring, you might be wondering what to do next. Don’t panic! Read our latest blog post: 'Accountant Retiring? Here’s What You Need to Know' to be aware of the few key steps you can take to ensure a smooth transition for your business finances. https://lnkd.in/g97HXq-v . . . #BookkeepingTips #MonthlyBookkeeping #BusinessBookkeeping #BusinessAccounting #Bookkeeping #Accounting #SmallBusiness #QuickBooksProAdvisor #SmallBusiness #WomanOwnedBusiness #healthcareprofessionals #mentalhealthprofessionals #healthcare #WestminsterBookkeeper #ColoradoBookkeeper #EventideBookkeeping

Here are some incredible free resources for small businesses to leverage year-round! 1. The IRS Small Business and Self-Employed Tax Center: A comprehensive resource designed to assist small businesses and self-employed individuals with their tax needs. It caters to those filing Form 2106, Form 1040 or 1040-SR, or Schedules C, E, or F, and small businesses with less than $10 million in assets.(https://lnkd.in/ga6k6is). 2. Small Business Administration (SBA): Get tips, tools, and resources for managing and growing your business (sba.gov). 3. Local Small Business Development Centers (SBDCs): Free consultations, training, and resources tailored to your needs. 4. Score.org: Free mentoring and resources for managing finances and taxes. 5. U.S. Chamber of Commerce: Free resources, guides, and programs to help your small business grow (uschamber.com). Found this helpful? Please share this post or tag a business friend below. . . . #BusinessResources #Mentoring #BusinessBookkeeping #BusinessAccounting #Bookkeeping #Accounting #SmallBusiness #QuickBooksProAdvisor #WomanOwnedBusiness #healthcareprofessionals #mentalhealthprofessionals #healthcare #WestminsterBookkeeper #ColoradoBookkeeper #EventideBookkeeping

If you use your vehicle for business, make sure to track your mileage properly so you can take full advantage of these updated rates. To keep a detailed log of your mileage, you need to track: - Date of the trip - Starting and ending odometer readings - Total miles driven - Purpose of the trip - Locations traveled to and from - Duration of the trip - Additional expenses (tolls, parking) Having this information will help ensure you’re claiming the correct mileage deduction and staying organized for tax purposes. Follow for more content like this to stay updated on the latest tax news, tips, and financial strategies! . . . #Mileage #BusinessTaxes #BusinessBookkeeping #BusinessAccounting #Bookkeeping #Accounting #SmallBusiness #QuickBooksProAdvisor #WomanOwnedBusiness #healthcareprofessionals #mentalhealthprofessionals #healthcare #WestminsterBookkeeper #ColoradoBookkeeper #EventideBookkeeping

Before you dive in, make sure your numbers are up to date and accurate. Your numbers are the roadmap to your success, so start there! Ready to level up this year? Book a call with us to get your business finances in order! https://lnkd.in/gQ5aZ5cu . . . #Coach #BusinessFinances #BusinessBookkeeping #BusinessAccounting #Bookkeeping #Accounting #SmallBusiness #QuickBooksProAdvisor #WomanOwnedBusiness #healthcareprofessionals #mentalhealthprofessionals #healthcare #WestminsterBookkeeper #ColoradoBookkeeper #EventideBookkeeping