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It All Add$ Up January News
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Hello 2014! In this month's issue of It All Add$ Up, find out what business reviews you should complete in January and learn how to choose a point of sale system. Be sure to read up on the tax code updates! These are just a few tips to help with the New Year!
We put the AX to your TAX worries!
Lauri |
JANUARY BUSINESS REVIEW A new year brings about a fresh start and a good time for business owners to look at what has worked in 2013 as well as things that could be improved. By taking the time to
 review the yearend profit and loss, look at various business lines and sales processes, it gives a business owner a good snapshot of a year in review. Perhaps your business has grown over the course of the past year and you were too busy building the business to really take a look at the numbers. See how accurate numbers can affect numerous business decisions. |
CHOOSING A POINT OF SALE SYSTEM
 Point of Sale (POS) Systems aren't just for retail establishments. Restaurants are cashing in too. A POS system can help manage inventory, track customer's interests, ring and track sales, accept credit cards, manage gift and rewards card processing, sync with mobile devices and provide sound reporting. But, not all POS Systems interface with QuickBooks. POS Systems are available through banks, credit card processing companies and independent POS companies. With so many options, what steps do you take to choose the best system for your business? These are the steps we recommend.
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TAX CODE UPDATES
The tax on gasoline has gone up, but beginning in 2014 tax year, the mileage rate for business miles will go down to $.56/mile. In addition, there is a delay in the income tax filing season. As of this writing, January 31, 2014 is the first day anyone can file their tax returns.
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NOT ALL RECEIPTS ARE DEDUCTIONS
If your receipts aren't adding up or you have questions on year end deductions, capital equipment purchases or need to get caught up on your bookkeeping for year-end, contact us at (724) 359-5022.
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I hope you find these tax tips helpful. If you have a topic you would like addressed, drop me a line.
Sincerely,
Lauri
Lauri Paxton
Paxton Bookkeeping and Tax Services |
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