ebs Associates Blog

Small Business Accounting & Technology Resources

7 Common Small Business Tax Myths

Posted by Denise Loter-Koch on Feb 1, 2019

The complexity of the tax code generates a lot of folklore and misinformation that could lead to costly mistakes such as penalties for failing to file on time or, on the flip side, not taking advantage of deductions you are legally entitled to take and giving the IRS more money than you need to. With this in mind, let's take a look at seven common small business tax myths.

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Topics: Small Business Ideas, Small Business Accounting, Taxes in Oregon, Taxes

Employers Beware: Identity Theft and W-2 Scam Alert or Phishing

Posted by Denise Loter-Koch on Jan 4, 2019

The 2019 tax season is quickly approaching and with it an increase in identity theft and W-2 scams. Small business identity theft is big business for identity thieves. Just like individuals, businesses may have their identities stolen, and their sensitive information used to open credit card accounts or used to file fraudulent tax returns for bogus refunds.

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Topics: Small Business Ideas, Small Business Accounting, Taxes in Oregon, Taxes, Cyber Security Awareness

Important Tax Changes for Individuals and Businesses | Misc Tax Tips

Posted by Denise Loter-Koch on Jan 3, 2019

As the New Year rolls around, it's always a sure bet that there will be changes to current tax law and 2019 is no different, now that the tax provisions under the Tax Cuts and Jobs Act of 2017 (TCJA) are in full effect. From standard deductions to health savings accounts and tax rate schedules, here's a checklist of tax changes to help you plan the year ahead.

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Topics: Small Business Ideas, Small Business Accounting, Taxes in Oregon, Taxes

Payroll Processing for Washington State employees

Posted by Aubrey Leahy on Dec 14, 2018

There is a NEW Employment Security Department remittance that starts on Jan 1 2019 called Washington’s Paid Family & Medical Leave Program.

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Topics: Small Business Accounting, Small Business Ideas, News & Resources, Payroll Setup

Do You Need to Use QuickBooks' Tools to track fixed assets ?

Posted by Denise Loter-Koch on Dec 6, 2018

Much of the work you do in QuickBooks is short-term. You send an invoice and it gets paid. Your purchase order is fulfilled, and the products move into your inventory. You run payrolls and submit their related taxes and other payments.

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Topics: QuickBooks Software, QuickBooks Training or How To, QuickBooks Desktop, Small Business Ideas, QuickBooks Warehouse Inventory Management, year-end

Tax Saving Frequently Asked Questions | ebs Associates

Posted by Denise Loter-Koch on Oct 19, 2018

This Financial Guide answers frequently asked questions surrounding tax saving ventures; and provides tax saving strategies for deferring income, and maximizing deductions; it also includes some strategies for specific categories of individuals, such as those with high income and those who are self-employed.

Before getting into the specifics, however, we would like to stress the importance of proper documentation

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Topics: Taxes, Taxes in Oregon, Sales Tax, Small Business Ideas, Small Business Accounting

Tax Records: Frequently Asked Questions | ebs Associates

Posted by Denise Loter-Koch on Oct 11, 2018

What pieces of paper do I need to keep in order to do my taxes? Keep detailed records of your income, expenses, and other information you report on your tax return. A good set of records can help you save money when you do your taxes and will be your trusty ally in case you are audited.

There are several types of records that you should keep. Most experts believe it's wise to keep most types of records for at least seven years, and some you should keep indefinitely.

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Topics: Small Business Ideas, Small Business Accounting, Sales Tax, Taxes in Oregon, Taxes, QuickBooks Online

Handling Fraud with QuickBooks Desktop  | Cyber Security

Posted by Lester San Jose on Oct 9, 2018

Whether your accounting tasks are done on a single PC or you have multiple users working on different screens, it's critical you make use of all that QuickBooks offers in terms of internal controls to tighten data security.

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Topics: QuickBooks Software, QuickBooks Desktop, Cyber Security Awareness, QuickBooks Reporting, QuickBooks Company File, Small Business Ideas

Your Primer on Automating Your Business & Record Keeping

Posted by Lester San Jose on Aug 22, 2018

It goes without saying: complete and accurate financial record keeping is crucial to your business success. Good records provide the financial data helping you operate more efficiently. It becomes more important, as year-end preparation looms around the corner.

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Topics: Taxes in Oregon, Taxes, Sales Tax, QuickBooks Software, Small Business Ideas, Small Business Accounting, QuickBooks Desktop, Vendor Management, QuickBooks Warehouse Inventory Management, QuickBooks Add-ons & Extensions

QuickBooks Keyboard Shortcuts - How to Do More in Less Time.

Posted by Jakob Mann on Aug 13, 2018

One of my favorite ways to save time when I’m learning new software is to try and learn the shortcut keys for some of my more common tasks. The less time I need to spend poking around in menus and sub-menus, the more actual work I can get done. By learning some valuable shortcut keys, I give myself access to useful tools literally at my fingertips. Like most software these days, QuickBooks also includes a lot of great shortcut keys. Let’s look at some of the ones we love to use here at ebs Associates.

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Topics: QuickBooks Desktop, QuickBooks Enterprise, QuickBooks Pro, QuickBooks Premier, QuickBooks Software, Small Business Ideas, Small Business Accounting, QuickBooks Invoices

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