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Business Deductions Most Business Owners Can Make
Possible Deductions Business owners can make many deductions for their expenses. Below are a few of the most common deductions, but these are certainly not all the deductions business owners can make. Rent Expenses Most businesses can deduct their rent expenses if...
Do You Need to Outsource Accounting?
Why Should You Outsource? The biggest determination of whether to hire an in-house accountant or to outsource comes down to price. The salary of a full-time accountant is roughly $60,000 a year. The salary of a full-time bookkeeper is around $45,000 a year. So, hiring...
How are the Goals of the UN Similar to an Accountant’s?
The Goals of the United Nations and the Accounting Industry The United Nations' assembly agenda has 17 sustainable development objectives aimed to be achieved by 2030. You may be wondering “Why is an accounting firm discussing UN goals?” Well, many of the intentions...
The Most Common Misconceptions of Tax Preparers
Untrue but Common Misconceptions Recently, Accounting Today, a trade magazine, collected the many misconceptions about tax preparers. The following is a list of common beliefs the public has towards tax preparers. All tax preparers are equal - This is the most...
A Couple of Irresistible Tax Jokes
Robert McKenzie, a tax humor connoisseur and partner at Saul Ewing Arnstein & Lehr, has been collecting tax jokes over the years. Here are a couple of the great ones in anticipation for April Fool’s Day! The Highest Perch A CPA goes into a pet shop...
Easy Ways to Minimize Your Taxes
“Minimizing taxes may be the difference between a profitable business and one that is just scraping by” -David Rae, Certified Financial Planner Follow these tips to save on taxes: Listen to your tax professional but be sure to find a professional you can trust. Track...
Artificial Intelligence and Accounting
Artificial Intelligence in the Accounting Industry Not much innovation has been seen in the accounting field since double-entry bookkeeping. Today, there are various bookkeeping programs that accountants can take advantage of. For example, QuickBooks Online allows...
The Office Dog and Receptionist, Emy
Emy Meet Andrews Tax Accounting’s new receptionist, Emily. Her friends call her Emy. She can’t pick up the phone but she sure does love greeting people who come to the office. She may follow you around because she loves attention and get this...hugs! Don’t fall for...
Is Tax Season Crazy Stressful for You?
Do You Find Taxes Stressful? You're Not Alone! A survey conducted by TaxSlayer, a tax prep software, found that 52% of taxpayers find filing season stressful. What is stressful? -Collecting the right tax documents -Understanding tax laws -The uncertainty of the...
Mistakes With Accounting
Common Mistakes Clients Make With Accountants Below, Alex Katz, the chief financial officer of Venture Capital, lists the most common mistakes made when working with an accountant. • Using an online accounting tool instead of investing in a trained and professional...
Happy Valentine’s Day!
An Accounting Poem From Everyone at Andrews Tax Accounting to You! Happy Valentine's Day! An Accountant's Valentine By David Albrecht Debits are left, Credits are right, When first I looked at you, Love at first sight. Roses are red, Violets are blue, Balanced ledgers...
Don’t Get Caught in Any Scams
Common Targets for Scams As we grow older, it is important to educate ourselves on financial dangers in the world. One group, in particular, that is susceptible to financial shams are the elderly. What can you do? Firstly, educate yourself, as well as your friends and...
Six Tax Tips You Need Right Now
The following are a few tax tips to consider during this filing season. Enjoy! Tax Tips If you don’t know, ask us. Take, for example, if you are unsure if something is deductible then include the receipt with the other papers you usually bring your accountant. Another...
When is the IRS Accepting Tax Returns?
When Will the IRS let you File This past year, the Internal Revenue Service started taking tax returns on January 23. This year, they will start accepting paper or electronic returns a little later (January 29). Although paper returns will be accepted at the same time...
Walter Diemer: the Inventor of Bubble Gum
Walter Diemer Some people say accounting and accountants are boring. They would be wrong. Take, for example, Walter Diemer. Yes, he was an accountant, but that's not only. Diemer also invented bubble gum. Gum was invented in 1870, not bubble gum. Diemer invented the...
Happy New Years From Andrews Tax Accounting!
Happy new years from everyone at Andrews Tax Accounting and Bookkeeping! On new year's, everyone usually makes a resolution for themselves. Don't go with the flow! Make a resolution for your business! Follow these tips to stay on top of your business: 1. Review your...
The Pay Rate in the New Year
Are You Wondering How the Pay Rate Will Change in the New Year? Firstly, in the new year, the pay rate or minimum wage will increase to $11.50. This is due to initiative 1433, which was passed by Washington voters in 2016. This initiative increases the minimum wage by...
The Beneficiaries of the Tax Reform Bill
The Tax Reform Bill Benefits Corporations This week the tax reform bill will finally be voted on. Several industries will benefit from the bill, but many will not. One beneficiary will be big corporations. Big Corporation's tax rate will change from 35% down to 21%....