PPP Loan Forgiveness and Recording PPP loan funds
Congrats! You’ve applied and received PPP (Paycheck Protection Program) funds. Now what? Let’s learn about PPP loan forgiveness and how to account for the funds on the books. First, the basics of the PPP funds as a recap. PPP Loan basics review The maximum PPP loan amount is 2.5 times your average monthly payroll expenses,…
How to handle meals and food-related expenses in 2018
In case you’re not aware of the new rules regarding meals and food expenses in your small business the Tax Cuts and Jobs Act changed things up a bit starting in 2018. Business owners now have to reevaluate their budget for the food they once were able to deduct. Let’s take a deeper look and…
How to hire a financial partner not a simple bookkeeper
Think back to when you started your business. Did someone tell you the first person you should hire is a bookkeeper? You should do this before you do anything else because finances are scary. Maybe they said bookkeeping is hard or taxes are overwhelming. Bookkeeping doesn’t need to be scary or difficult, but you may…
Which software should I use for my bookkeeping?
I get asked often by small business owners which software I recommend for bookkeeping. My go to answer is QuickBooks. Most of the time I find it to be the best solution for small businesses. However, I also understand there are varying degrees of needs and levels of experience with keeping the books. So… let’s…