Contractor/Small Business Services:

As a business that is always on the move, you may not have the time to keep good records of your growing business or even keep track of your receipts.  We want to help you be a success.

How It Works: Contractors without any bookkeeping

You drop off, fax or email your current month's/week's receipts, labor payments and financial information on a routine basis.  We record the information on a QuickBooks© accounting computer file and then file and store the information given.

How It Works: Contractors with an office or home office:

Have your current month's/week's receipts, labor payments and financial information ready on a routine basis.  We record the information according to your bookkeeping system or a system we help you design. If you use QuickBooks©, we can fine tune your file and keep it up to date so you always know your financial position. 

Advantages:

Financial status reports when you need them

Bank reconciliations done professionally

No worries about lost receipts

Have professional help with payroll/contractor payments

Tax return information ready in advance

Reduces costs for Returns & 1099's

You can concentrate on generating more business

We do the books.

You focus on what you do best!

Are You Self Employed? Check Out These IRS Tax Tips

Many people who carry on a trade or business are self-employed. Sole proprietors and independent contractors are two examples of self-employment. If this applies to you, there are a few basic things you should know about how your income affects your federal tax return. Here are six important tips about income from self-employment:

• SE Income.  Self-employment can include income you received for part-time work. This is in addition to income from your regular job.
• Schedule C.  To report self-employment income you must file a Schedule C, Profit or Loss for Business, with your Form 1040. 
• SE Tax.  You may have to pay self-employment tax as well as income tax if you made a profit. Self-employment tax includes Social Security and Medicare taxes. Use Schedule SE, Self-Employment Tax, to figure the tax. If you owe this tax, make sure you file the schedule with your federal tax return.
• Estimated Tax.  You may need to make estimated tax payments. People typically make these payments on income that is not subject to withholding. You usually pay this tax in four installments throughout the year. If you do not pay enough tax throughout the year, you may owe a penalty.
• Allowable Deductions.  You can deduct expenses you paid to run your business that are both ordinary and necessary. An ordinary expense is one that is common and accepted in your industry. A necessary expense is one that is helpful and proper for your trade or business.

When to Deduct.  In most cases, you can deduct expenses in the same year you paid for them, or incurred them. However, you must ‘capitalize’ some costs. This means you can deduct part of the cost over a number of years. See the downloadable "Business Organizer" pdf on this page.