Bookkeeping Archives - Denise Cataldo, CPA - a metrowest business accounting firm specializing in QuickBooks & Tax Prep advice serving Sudbury, Westboro, Southboro, Wayland and more

Massachusetts Minimum Wage for 2015

Minimum wages in Massachusetts will increase from $8.00 per hour to $9.00 per hour effective January 1, 2015. In addition the service rate is also increasing from the current $2 per hour to $3 per hour starting January 1, 2015. The law also increases the minimum wage for agricultural employees in Massachusetts to $8 per […]

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Massachusetts Repeal of the Computer and Software Service Tax

 Recently, the Massachusetts legislators retroactively repealed the computer and software service tax that went into affect on August 1, 2013. So the question now is what do companies do that collected this tax? Here is two possible situations: 1. Vendors that collected the tax but have not remitted the tax – These vendors must make […]

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Similarities between your CPA and your golf caddy

Similarities between your CPA and your golf caddy:  1.  Trust is important in both relationships  2.  Both provide advice but the final decision is always yours  3.  Both should understand your strengths and weaknesses  4.  They need to understand the rules under which you operate your business  5.  Your success contributes to their success  6.  […]

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NEW TAX INFO FOR 2013

    NEW TAX INFO FOR 2013     Social Security News – Social Security Administration announced that recipients will receive an increase of 1.7% in 2013. Some recipient’s increase may be partially or completely offset by increases to their Medicare premiums. Another change that will be effective January 2013 is the amount of taxable earnings subject […]

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NEXUS

In today’s day of technology growing your business has become easier.  Creating an internet site which allows businesses the ability to attract customers from across the country is common today.  Business growth and expansion often includes plans to either ship products to other states or expand into neighboring states.  This sounds great but what many […]

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Common Payroll and Employment Issues/Questions

Common Payroll and Employment Issues/Questions   Many businesses don’t have their own human resource department.  I know I don’t.  Owners are not always aware of all the different rules that accompany having employees and preparing payroll.  Hiring an outside service to prepare the company payroll and handle the appropriate tax filings is a step in […]

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Business Identity Theft

                                    Business Identity Theft   Recently, a bookkeeper was updating the company checking account in QuickBooks and found several checks totaling close to $12,000.  All the checks were made out for amounts in excess of $2000 each and cashed against the company checking account.  The problem was no one in the company issued these […]

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Accounting for Company Credit Cards in QuickBooks

Accounting for Company Credit Cards in QuickBooks   When we are called to assist new clients with a particular QB problem, we often find several other problems exist.  Some are more common than others.  For example, we often find that clients do not set up separate accounts for their credit cards.  They simply put the […]

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Setting Up Chart of Accounts In Quickbooks

SETTING UP QUICKBOOKS CHART OF ACCOUNTS   Although it may appear rather simple to set up QuickBooks with all the support features the software has to offer, there is more to it than meets the eye.  For example, when you set up your chart of accounts, ordering the profit and loss accounts by no particular […]

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Making More Money

       In my last blog I talked about setting your 2012 goals.  Maybe one goal was to make more money by making your business more profitable.  Towards that end, I have a suggestion.  Every retailer knows how much of a mark up they have on the products they are selling.  Many service providers […]

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