If you have recently become an S-Corporation, there are a few additional rules you need to follow compared to when you were a sole proprietor or LLC. If you follow the guidelines in the attached blog and ensure that business and personal finances are kept separate, you can stay off the IRS's naughty list.
Read more...
Intuit, the company behind QuickBooks, has been pushing for users to switch from QuickBooks Desktop to QuickBooks Online, indicating a shift towards cloud-based accounting. Now, Intuit has announced that it will stop selling new desktop subscriptions after July 2024. While current users can continue to use the product, it's advised to discuss a transition with your accountant, as QuickBooks Online is very different from QuickBooks Desktop. The future of accounting is in the Cloud, so be prepared for the switch.
Read more...
