“Can I Write It Off?” – Giveback Promos

  Wondering whether your percentage-of-sales donations are tax-deductible? Our resident tax expert explains it all. As you probably know, one of the hottest methods of business promotion these days is the giveback promo. You know, the Tom’s Shoes/Warby Parker/Burt’s Bees model where every item you buy gives something to someone in need. It can be a…

bookkeeping, deductions, business gifts, business expense, expenses, write off, tax season

“Can I Write It Off?” – Business-Related Gifts

Wondering if you can write off business-related gifts on your 2016 tax return? Here’s everything you need to know. Say what you will about the commercialism of Valentine’s Day, it’s great for working folks! Our office was awash with chocolates, cookies, flowers, cards, and boxes of those chalk-textured conversation hearts. (#FunToRead #GrossToEat) Of course, we sent our…

Income Statement vs. Balance Sheet vs. Cash Flow Statement

Bookkeeping
It’s an income statement, financial reports, charts, and spreadsheets . . . if you’re like most people, your eyes may glaze over when this topic comes up. Accountants like to create vehicles to track the numbers. That’s what they do. Someone has to, right? There are revenue forecasts, costs of customer acquisition, marketing budgets, and...

Why We, at The Bottom Line®, are 100% Xero

Bookkeeping

Clients often call us up and ask for help with their software. They are having difficulty with Quickbooks, or they can’t get GoDaddy Bookkeeping to compute their expenses properly, or they may want to know how to configure a certain formula in FreshBooks. If the question they ask is an accounting issue, we should be…