Does your accountant need to be in your state?

Does your accountant need to be in your state?

Small Business Tips

Thanks to CPA mobility, your Certified Public Accountant is not required to operate in the same state you’re living in. CPA mobility is a national effort to adopt a uniform system that allows licensed CPAs to provide services across state lines without being subject to unnecessary burdens that do not protect the public interest.

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Deduct client gifts

How to Deduct Gifts to Clients

Taxes

You can only deduct gifts up to $25 per person. Need an easy way to keep track of your client gifts? I’ve got you covered, just download my free client gift tracking spreadsheet.

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Are gift cards considered income?

Are gift cards considered income?

Bookkeeping, Taxes

Yes, since a gift certificate is essentially a promise to do work or produce a product in the future, it’s considered a liability (similar to a debt owed) on your financial statements. Once you perform the service or hand over the merchandise they purchased with the gift certificate, you take that amount out of the liability bucket, and move it into your revenue bucket.

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Bookkeeping & Tax Tips
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