tax reform RSS

self employed, tax reform, TCJA -

Did you know that 43 percent of the U.S workforce will do some form of freelancing by 2020?  Are you one of these Uber drivers, multi-level marketing distributors, online sellers, or freelancers?  The Tax Cuts and Jobs Act (TCJA) has provisions favorable to the self-employed, but many in the gig economy may not qualify if they aren't careful.

Read more

prepaid pledges, tax reform -

The changes in the new tax law have driven many donors to prepay their 2018 pledges. This short video explains how to handle them in QuickBooks Online. (Please NOTE: This is designed for management reporting purposes only; specifically religious organizations who do not need to file a tax return or a 990.) Quick Summary: Set up a new account in the Chart of Accounts called "Prepaid Pledges/Unearned Donations". It must be a Current Liability. Set up a new Product/Service as a Service called "Prepaid Pledges" and tie to the Prepaid Pledges/Unearned Donations account. Record the prepaid donation as a Sales...

Read more