Tag: Taxes

Streamline Your Expense Management: Integrating Receipts into QuickBooks Online

The Internal Revenue Service (IRS) mandates meticulous record-keeping for all your business expenses. Your efficiency in collecting and managing these receipts directly impacts your business operations. Effectively handled, this process seamlessly integrates into your daily workflow. Conversely, poor management can lead to an uphill task of reconstructing financial activities, risking overlooked expenses. The question then...

Strategize Your Tax Savings: How Smart Businesses Stay Ahead

Let’s face it – taxes are the bane of many businesses. The cycle of dread that accompanies tax season is all too familiar. Yet, it doesn’t have to be this way. Transforming tax time from a source of stress into an opportunity for strategic financial management is possible and advisable. How? By adopting a proactive...

Revolutionizing Financial Management: How Zumifi Elevates Year-End Financial Planning

Imagine the scenario: It’s December, and one of our clients, Megan, with the help of their devoted account manager, has a crystal-clear overview of their financial standing for 2023. This clarity allowed them to make informed decisions on expenditures, bonuses, and distributions ahead of the holiday season, ensuring a stress-free entry into the new year....

Close Your 2023 Books!

Optimize Your Financial Records for a Successful 2024 We are here to guide you through optimizing your financial records for a successful 2024. This article will help you achieve better success and provide valuable insights into maintaining impeccable accounting practices. Reconcile Loans and Ensure Balance Sheet Accuracy One crucial step in your financial housekeeping is...

Optimizing Your Business’s Financial Health: A Comprehensive Guide

In the dynamic landscape of business finance, staying ahead with effective financial management is not just a necessity but a strategic advantage. This comprehensive guide is designed to navigate you through the essentials of financial planning and management, ensuring your business is surviving and thriving. End-of-Year Financial Preparation: Act Now for a Smoother Transition As...

Success Stories: Getting Financial Management Right with Zumifi

At Zumifi, we are dedicated to significantly impacting our clients’ businesses, and the recent addition of Alexandra to our team has further elevated our capacity to deliver exceptional financial management services. Our commitment lies in understanding our clients’ intricate challenges and navigating them to success with our expert team. Alexandra’s arrival marks a new chapter...

Tis the season to review your financials!

If you haven’t already, you will want to book a check-in with your CPA to review your 2022 performance and see the tax implications. To have a complete conversation, you will need to be sure that your books are up-to-date and accurate. So review your books thoroughly before the call. Make sure things look accurate...

Stay on Top of Tax Law Changes!

The tax law changes greatly impact what can be deducted from the meals and entertainment expense category. The old law allowed a 50% deduction for business-related meals and entertainment expenses and a 100% deduction for meals provided for employees at the employer’s convenience while on the premises of the employer’s place of business. However, the...

Creating a Paper Trail

Creating a Paper Trail for Client Entertainment Expenses In business ownership, maintaining meticulous records for client entertainment is no mere option; it’s a necessity. While most are familiar with the importance of keeping receipts, a more comprehensive approach exists to this financial endeavor. Beyond mere receipts, thorough documentation is the bedrock for entertaining clients and...

Track Your Physical Inventory in Real-Time!

2022 is closed. Your taxes are in the capable hands of your CPA or already complete. So, what’s next for the business on top of its bookkeeping game? Tracking their business property! Most localities require you to report all business property you keep at your location. Sure, this means your computers and big equipment. But...