Bookkeeping Concepts LLC

Should You Charge Late Fees? QuickBooks Can Help Many businesses struggle to pay bills these days, so it wouldn't be surprising if your customers have been submitting payments later than usual these last several months. Still, you need to get paid and on time - because delinquent receivables have a negative impact on your cash flow. Continue reading ... https://www.bookkeepingconcepts.com/newsletter.php#11 See more

What's New for 2020 Tax Returns As always, taxpayers should be aware of several key items involving credits, deductions, and refunds when filing their tax returns. Let's take a look ... https://www.bookkeepingconcepts.com/newsletter.php#2 See more

Do You Need To File a 2020 Tax Return? Most people file a tax return because they have to, but even if you don't, there are times when you should - because you might be eligible for a tax refund and not know it. The tax tips below should help you determine whether you're one of them. Read more ... https://www.bookkeepingconcepts.com/newsletter.php#6 See more

Employer Tax Credit Extended for Payroll Workers The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted December 27, 2020, made several changes to employee retention tax credits. These tax credits were previously made available under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Read more ... https://www.bookkeepingconcepts.com/newsletter.php#3 See more

Social Security Benefits and Taxes: The Facts Social Security benefits include monthly retirement, survivor, and disability benefits; they do not include Supplemental Security Income (SSI) payments, which are not taxable. Continue reading ... https://www.bookkeepingconcepts.com/newsletter.php#4 See more

Taxable vs. Nontaxable Income Are you wondering if there's a hard and fast rule about what income is taxable and what income is not taxable? The quick answer is that all income is taxable unless the law specifically excludes it. But as you might have guessed, there's more to it than that. Read more ... https://www.bookkeepingconcepts.com/newsletter.php#5 See more