Month: August 2018

Understanding the Tax Cuts and Jobs Act For All Businesses Here are some highlights of changes (tax cuts and Jobs Act) that affect all business entities: 100% bonus deduction for assets placed in service after September 27th, 2017.  The old law only allowed 50% deduction. Old law only allowed you to take bonus depreciation on new assets.  The new law allows used property to qualify. Deduction for energy efficient commercial buildings. Credit for renewable diesel fuel. Old law Read more [...]

The products and services your business sells make it unique. The same thing is true of how these items are set up in your accounting software.  Whether you’re using QuickBooks Online or something else, getting your products and services set up right can impact the quality of the information you can get out of your accounting system.  Here are the types of items you can set up in most systems. Inventory item Inventory items are used in retail and wholesale businesses. They are physical items Read more [...]