Simplified Bookkeeping Services, LLC

06/10/2014

Capital Gains.
Before determining the tax implications of asset sales, the property must be classified as a person-use-asset, a trade or business asset, or an investment asset. Also the length of time the taxpayer owned the property and weather the asset is subject to depreciation must be determined. Each of these items affects the taxability of asset sales. (See publication 544 (Sales and Other Dispositions of Assets), Publication 550 (Investment Income and Expenses) & Publication 551 (Basis of Assets)

04/23/2014

QuickBooks Enterprise Solutions

Call me for your Bookkeeping Needs 541-273-7366 http://simplifiedbookkeeping-public.sharepoint.com/

04/04/2014

Inventory Cost Flow Methods:
When goods are sold, product costs flow (are transferred) from the Inventory Account to the Cost of Goods Sold Account. Four acceptable methods for determining the amount of cost to transfer are (1) Specific Identification (2) First in, First Out [FIFO] (3) last-in, First Out [LIFO] and (3) Weighted Average. I will discuss the effects of each on the comments below.

04/02/2014

I would like to introduce to you a good friend of mine and a trusted business woman.

Brittany McGuffie
Get a positive, helpful partner for buying or selling a home:

Trusted resource for answers about the process
Innovative marketing strategies
Expertise about neighborhood features
Ability to target home searches
Strong negotiation skills
Support through the closing and beyond

If you are in the market to buy, sell, invest, or relocate in this beautiful county of San Diego,she is here to help!

Servicing all areas of San Diego including Mission Valley, San Carlos, La Mesa, Fletcher Hills, Alpine, Campo/Lake Morena, and more!
http://mcguffie.kwrealty.com/

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04/02/2014

Check out what new things have been added to my website

http://simplifiedbookkeeping-public.sharepoint.com/

03/28/2014

http://intuit.me/EvolutionOfPayments Created by Nick Gamino, Srikanth Devidi, Vidya Subramanian, Sherzad Rahmatian and Joe Mao Shot by Renzo Gianella Edited ...

03/26/2014

2014 TAX DEADLINES

03/26/2014

Salary or Draw? How to Pay Yourself as a Business Owner.

03/26/2014

If you are required to purchase health insurance and have not done so by March 31, 2014, you will receive a penalty.
The tax penalty will be on your 2014 tax return filed in 2015.
The penalty in 2014 is $95 per adult, $47.50 per child, capped at $285 or 1 percent of household income depending on income, whichever is greater.
Each year the penalty increases.
By 2016, it rises to $695 per adult, $347.50 per child, capped at $2085 or 2.5 percent of household income, whichever is greater.
There is no penalty for a gap in coverage less than three months.

03/26/2014

Uninsured individuals who purchase health insurance through an online health insurance marketplace or exchange and have income no greater than about $94,200 for a family of four, may be eligible for a government subsidy to help pay for health insurance.
The subsidy will be in the form of a tax credit.
Unlike most tax credits, you will not have to wait to receive the credit or subsidy; it will be applied to your insurance premium when you purchase in 2014.