Bitcoins Treated as Property for Federal Tax Purposes

Brian SingletonWatch Your Wallet

Many retailers and online businesses now accept virtual currency for sales transactions, but the federal tax implications were relatively unknown until recently when the IRS issued a set of FAQs on virtual currency such as bitcoins. The FAQs provide basic information about the U.S. federal tax implications of transactions in, or transactions that use, virtual currency. Here’s what you need … Read More

Brian SingletonBitcoins Treated as Property for Federal Tax Purposes

Paying off Debt the Smart Way

Brian SingletonWatch Your Wallet

Between mortgages, car loans, credit cards, and student loans, most people are in debt. While being debt-free is a worthwhile goal, most people need to focus on managing their debt first since it’s likely to be there for most of their life. Handled wisely, that debt won’t be an albatross around your neck. You don’t need to shell out your … Read More

Brian SingletonPaying off Debt the Smart Way

The Home-Based Business: Basics to Consider

Brian SingletonWatch Your Wallet

More than 52 percent of businesses today are home-based. Every day, people are striking out and achieving economic and creative independence by turning their skills into dollars. Garages, basements and attics are being transformed into the corporate headquarters of the newest entrepreneurs–home-based businesspeople. And, with technological advances in smartphones, tablets, and iPads as well as a rising demand for “service-oriented” … Read More

Brian SingletonThe Home-Based Business: Basics to Consider

Tax Tips for Students with a Summer Job

Brian SingletonWatch Your Wallet


Here’s what you should know about the income your child earns over the summer. A summer work schedule is sometimes a patchwork of odd jobs, which makes for confusion come tax time. Contact us if you have any questions at all about income your child earned this summer season.

Brian SingletonTax Tips for Students with a Summer Job

Start Planning Now for Next Year’s Tax Return

Brian SingletonWatch Your Wallet

1. Adjust your withholding.¬†Why wait another year for a big refund? Now is as good a time as any to review your withholding and make adjustments for next year, especially if you’d prefer more money in each paycheck this year. If you owed money at tax time, perhaps you’d like next year’s tax payment to be smaller. Give us a … Read More

Brian SingletonStart Planning Now for Next Year’s Tax Return

Travel & Entertainment: Maximizing Tax Benefits

Brian SingletonWatch Your Wallet


Tax law allows you to deduct two types of travel expenses related to your business: local, and what the IRS calls “away from home.” First, local travel expenses. You can deduct local transportation expenses incurred for business purposes such as the cost of getting from one location to another via public transportation, rental car, or your own automobile. Meals and … Read More

Brian SingletonTravel & Entertainment: Maximizing Tax Benefits

8 QuickBooks Reports You Should Run Regularly

Brian SingletonWatch Your Wallet


You send invoices because you sold products and/or services. Purchase orders go out when you’re running low on inventory, and there are always bills to pay, it seems like. All of this activity is, of course, important in itself, but all of your conscientious bookkeeping culminates in what’s probably the most critical element of QuickBooks: your reports. Reports can tell … Read More

Brian Singleton8 QuickBooks Reports You Should Run Regularly

IRS Updates Pub 17

Brian SingletonWatch Your Wallet

The IRS has revised Publication 17 and posted it online. It has been updated for 2013. Find it here.

Brian SingletonIRS Updates Pub 17

The Best Financial Tool for Business Owners

Brian SingletonOld Site, Watch Your Wallet

If there were a tool that helped you create crystal-clear plans . . . that provided you with continual feedback on how well your plan was working . . . that told you exactly what’s working and what isn’t, allowing you to consistently make smart business decisions to keep your business on track for success – wouldn’t you want to … Read More

Brian SingletonThe Best Financial Tool for Business Owners

Protecting Your QuickBooks Data Against Hackers

Brian SingletonOld Site, Watch Your Wallet

Every month, we provide information on how to better use QuickBooks. By implementing the best methods for managing your accounting data, you can actually improve your financial bottom line. But all of your careful work is for naught if a malicious hacker gets in to your computers, or if you experience identity theft by an employee. Social Security and credit … Read More

Brian SingletonProtecting Your QuickBooks Data Against Hackers