• Personal Taxes
  • Bookkeeping
  • Accounting
  • Payroll
  • Business Taxes

B&P Knowledge Base

Watch The Video for More Information About Accounting and my recommended Software Options

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Creating and Filing 1099's

Cost of Goods Sold vs Cost of Services Sold

Saving Time and Money with Video Calls

Frequently Asked Questions

Question: When should I use accounting software in my business?

Answer: As soon as you begin business.  No business is too small and if your goal is to have good cash management and spend wisely you will need to track your financials and software is a simple and easy place to store that information. Also, bookkeeping software makes it easier at tax time to pull the information for the tax accountants.

Question: Which software should I choose and what is the difference?

Answer:  Please see the video above and download your free Accounting Guide that will help you answer basic questions.

Question: When should I implement payroll into my business and is it different from owner’s pay?

Answer: Payroll process depends on your business structure regarding owners pay. If you are a non-corporation then you would still need to calculate self-employment taxes on the money you withdraw from the business. If you hire an employee you will need to process payroll for employees’ hourly or salary payments and submit those payments to the IRS or the State for which you owe taxes.

Question: What are the primary taxes for various businesses?

Although there are hundreds of tax types, depending on the business, I have listed the top 5 most common taxes.

  1. Business Income Tax
  2. Self-Employment Tax (non-corporation owners pay taxes)
  3. Payroll Taxes (withholding taxes- payroll)
  4. Sales and Use Tax
  5. Local and County Taxes (depends on the city and county taxes in your area)

Schedule a consultation to discuss the taxes that apply to your business.

Questions: How Do I track my mileage?

Start here:  Download this form for manual tracking of mileage http://bit.ly/2l3iHl6

Mileage Tracking image

Frequently Asked Questions

Part 1 - Sharing A Folder

Part 1 of a 2 part series on Tax Preparation

The fastest way to access your information is to share an online folder. If you scan your receipts or save them online you can add them to a shared folder and your accountant will see your documents and receipts. This method saves time and money. In this video, I will cover how to share a folder in Dropbox but this applies to Google Drive or OneDrive (and other cloud document providers). Dropbox and Google Drive are my favorites.

I apologize the video froze while recording, however, the message is still clear so I keep it moving. 🙂

Get the digital e-course: Preparing for Tax Season: http://bit.ly/2BT9mW2


Part 2 - Organizing Your Digital Documents

Part 2 of a 2 part Series. Preparing for Tax season and beyond.

Part 1 – we talked about sharing files and this video goes deeper into the folders to show file organization. Saving digital documents and receipts will cut down on paper overload and it is easier to search and find.

Learn more about preparing for tax season: http://bit.ly/2BT9mW2
FaceBook learning center: http://bit.ly/2Dg89Jg


Preparing for Tax Season

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