• Do you need all that paper?

    Everyone wants a fresh start in 2017 – to sweep out the old and tackle the new. If I know you guys, you’re getting started off right with a good, thorough housecleaning. And I bet, like mine, your housecleaning will end with a big stack of financial papers you have no idea what to do with. Figuring out which papers to keep and which to get rid of can be… Read More
  • Tips to start prepping for tax prep

    Federal income tax filing season will shortly begin, on Jan. 23, so it’s time to think about how your taxes are going to be prepared if you haven’t already decided. The days of picking up paper forms and filling them out by hand are a thing of the past for most people, and that’s generally a good thing. Filling out tax forms using tax preparation software, or paying someone to… Read More
  • 4 Key Accounting Issues to Watch in 2017

    As if 2017 doesn’t promise enough drama and change already, the accounting profession is poised for a year brimming with expected regulatory issues and scrutiny. Bloomberg BNA recently released its 2017 Tax & Accounting Outlook report that covers the gamut of legislative, state, international, and tax administration issues. But it also highlights the following four key accounting issues that could impact practitioners and companies in the new year. Banks and credit losses.New… Read More
  • Decluttering for the New Year? What to keep or throw away

    Snap your receipts with Itemize and declutter your life!  With a new year before us, it’s the perfect time to make space for new things and toss out old stuff. One thing people have too much is paper. There are some papers you should hold on to, though. This is not an exhaustive list, but here are some things you should keep: Books of accounts and other accounting records. As… Read More
  • Spain’s Carrefour supermarkets to phase out paper receipts

    The Carrefour supermarket chain in Spain has taken the first step toward eliminating paper receipts at the checkouts of its stores, proving its customers with the option of receiving a digital version. Local media Elpais.com reported the French-headquartered company intends to reduce the use of these receipts by 70%, as well as digitizing the main processes at its central offices through its Papel 0 (Zero paper) initiative. The supermarket’s Mi Carrefour app… Read More
  • 4 accounting mistakes small business owners need to avoid

    With the sheer numbers of small businesses in existence — 28 million in the US and hundreds of millions more all over the world — survival can be quite difficult. The competition is high and you have to work really hard every day to get customers, pay your bills, and run your business. To make that harder, since you’re probably doing all these things by yourself, you’ll have to take… Read More
  • New QuickBooks Phishing Scam

    If you have a QuickBooks Online account or any Intuit.com account, be alert for the newest QuickBooks phishing scam. The M.O. is familiar. You receive an email “confirming” that Intuit (maker of QuickBooks products) has received your request for a Business Name Change for Intuit Services. Make no mistake; this is a scam! Below is a copy of the body text in this scam email. The links have been deliberately… Read More
  • 8 Accounting To-Dos for Your End-of-the-Year Checklist

    An understaffed accounting department caused big trouble for the city of Spokane, Washington. During an audit of the city’s 2014 taxes, several errors surfaced, including revenue miscalculation, an overstatement of general fund expenses and inaccurate reports of debt changes. While many of these mistakes were simple spreadsheet flubs — a matter of figures placed in the wrong spots in the city’s financial statement — the result was a multimillion-dollar miscalculation. Fortunately,… Read More
  • Austin man provides holiday relief, pays for families’ Christmas layaways

    Kacee Jackson’s daylong scramble to pay for the presents of 83 Austin families was inspired by a single Toys R Us receipt: one for an Amazon Fire tablet and a You and Me 16-inch Baby Deluxe doll set, which cost a combined $69.98, plus tax. Jackson, who makes a living advising people who are trying to avoid having their homes foreclosed, had come across that receipt after meeting with a… Read More
  • Last Minute Tax Tips: 7 Ways to Lower Your 2016 Bill

    It’s not even 2017 yet, let alone April. But your future self will thank you if you start putting some thought into your taxes now. Taxes due in April are based on how much you earn in 2016, so anything you can do to lower your taxable income for the year will mean less to pay Uncle Sam. That doesn’t mean asking your boss for a pay cut (indeed, here’s… Read More