The Importance of Backing Up Your Financial Data

Although backing up your data may seem redundant and a nuisance, it can save your business a tremendous amount of time and money. Imagine if all of your company data had been wiped out – billing records, customer records, financial records, vendors, receivables, accounts payable

Cost-Of-Living Adjustment Increases for 2018

The new Cost-Of-Living Adjustment (COLA) increases have come out for the year 2018. In the link below we have comparison of the 2018 and 2017 COLA dollar limitations on benefits and contributions.   COLA increases 2018-2017   For more information or questions, please contact

2018 IRS Provision Updates

The IRS announced last week the annual cost of living adjustments for various tax-related provisions for 2018. Keep in mind, these new numbers are for tax year 2018 (beginning January 1, 2018 thru December 31, 2018), which the return will be filed in 2019. Additionally, these are the

IRS Announces Per Diem Rates for Business Travelers

Travel expenses are deductible to the extent they are considered business expenses. The Internal Revenue Service defines business expenses as, those that are ordinary and necessary expenses of traveling away from home for your business, professions, or job. If you are eligible for rei

Documentation of Business Mileage

The qualifying mileage deductions permitted by the IRS does not include your commute from home to your permanent work location. However, if you travel to and from off-site meetings, business events, or even lunch or dinner with a current or prospective client, you can take the mileage