Did you know The Tax Cuts and Jobs Act was issued and installed more than a 100 new tax provisions? Don’t miss out on this fantastic news, and come to Pathways where we can start planning your taxes NOW and save you money in the upcoming tax season!
Pathways will makes sure you itemize your deductions appropriately with the new 2019 installment! We will help ensure that either the standard deduction or itemizing is what is in your best interest. When it comes to medical expenses, the threshold for deductions has returned to the past 10%, which make it difficult to qualify once again. These thresholds would include payments made to doctors such as care physicians and dentists, optometrists, and even reaching to equipment such as glasses, oxygen tanks, and medications.
For those who are high-income taxpayers, the recommendation to offset capital gain remains an option. This is where the option to sell underperforming investments comes into play; some have the option to defer income into January by delaying invoices to where payment arrives within the following year’s taxable income. For the charitable hearts, you now will have to itemize deductions if you want to claim deductions on the donations you gave. Take your IRA and 401K seriously by ensuring you are putting away the cap amount in each every year. This will also shrink your taxes!
Don’t waste any more time, as November comes to an end here soon, there’s only one month left within this year to prepare for tax season. Take advantage of that and head over to Pathways Consulting where we can help you prepare for tax season NOW!
Halloween was a doozy this year, and now we are left with all of this candy! What about you? Do you have individually wrapped, fun-sized candy that the trick-or-treaters never knocked on your door to receive? If so, our team at Pathways know exactly what you can do about it!
It’s a program called “Operation Gratitude” and they are dedicated to rounding up unused Halloween candy to send to our troops. We think this is an amazing idea, which is why we partnered with them and are now a candy drop-off site!
Did you not participate in the candy craze this year? Did all the little tricksters receive all the candy you bought? That’s okay! Operation Gratitude also accepts dental floss, pens, and mechanical pencils for our troops! So even if you don’t have candy, you can still participate in this big thank you to our troops!
All donations must be received on November 5th, so that means you have three days, this weekend, to gather your donations with your family and bring them to our Pathways office in Summerville!
Our drop-off station will have cards for you to write small thank you notes or encouraging statements that make a big difference to the troops!
Start gathering your candy now and we will see you before November 5th at our office is located on 105 S Cedar St d, Summerville, SC 29485!
Financial Transaction Tax
A financial transaction tax is characterized as a levy on a particular transaction of a certain purpose. It is also important for any business and owner to be conscious of. Since the start of the first financial transaction bill in 2008, financial transaction tax bills have been proposed multiple times since 2009 in the U.S.
The bill that is in use now, suggested a tax of 0.25% of stock, 0.02% of features contracts on the buying or selling of specified commodity, and 0.02% of credit default swaps between two firms would be implemented. The projected revenue of this tax, being $150 billion, would be used deficit reduction and job promotion.
While this tax does not apply to families, the businesses within the United States are subject to adhering to these financial transaction tax policies. What do you think about this tax? Is the revenue from it going to appropriate places, or would you rather it be put elsewhere? Tell us in the comments below!
Pathways focuses on helping and educating the businesses within the Summerville area and strive to see the businesses grow! Call us today for any of your accounting or tax needs!
Tax Planning: Why it is Important
We have talked in the past of how important organization is to how you approach your taxes. We may not need to remind you but tax season is approaching quickly and you need to be prepared. We suggest you start planning your taxes now, so here are a few ways you can start planning your taxes in advance to make the January tax season simple.
Tax planning can be done throughout the year by taking into consideration tax law provisions, tax breaks, and using every tax credit and deduction available to you. Take advantage of the legal ways you can save on your taxes, if you do not understand the ways listed above, come into Pathways and sit down with an expert who will explain everything to you.
It is also important that when your tax planning you take the time for financial planning. The last thing anybody wants to do is get to tax time and realize that they owe money on taxes. If you plan financially to have money saved up for this specific reason, tax season will come as less of a shock.
Everyone knows how stressful tax season can be but with the above tips you can ensure your tax season will run smoothly. If you would rather meet with an expert to sit down and ask your questions, please feel free to contact Pathways for an appointment.
Have you been having a hard time lately with your finances for your small business? Have you been struggling trying to flip through papers up on papers that don’t seem to have the correct information? What if we at Pathways Consulting told you you don’t have to do that anymore?
That’s right. You don’t.
QuickBooks is an accounting software that can change the way you do booking. From spreadsheets to payroll, QuickBooks will have your business running smoother than you ever thought it could.
QuickBooks is smarter than a spreadsheet, since it’s an online program you can use the convenience and efficiency of computer software to keep a hold of your businesses’ exchanges of money.
Eliminate your worry today and do some reach search on QuickBooks. Once you’ve made a decision then that’s what you want to do, contact us!
Lucky for you at Pathways Consulting we have experienced, knowledgeable, members of our team who understand QuickBooks to a T! Don’t be shy and call today to schedule your appointment!
We will go over QuickBooks software with you and help you receive a better understanding of what this new innovative computer technology means for your small business! We look forward to hearing from you!
Hurricane Florence has brought to our attention the necessity of having your business at your fingertips. Luckily for all the small business owners out there, technology has grown and flourished to accommodate every demand we place on it.
It even makes it possible and easy to handle your business from your phone! That means 24/7 access for you! But what allows you to run your business solely through your phone if you so choose? Quickbooks!
Quickbooks is the best and most efficient accounting system right at your fingertips. Here at Pathways, we even have quickbooks specialists to help you manage your account without the hassle or confusion!
Do you have your business’ books and records safe in case of a natural disaster? Make the switch to Quickbooks today by calling Pathways Consulting and scheduling a meeting! If you live in the Summerville, or surrounding area, we will get you on the right track with your money and out of the storm!
Do you own a small business or are interested in learning how to start and run one? At Pathways, our job is to help you keep your business running smoothly when it comes to handling the money. We also want to make sure you know about fun opportunities within the community to grow your business!
On Saturday, September 8th from 10:00am-1:00pm Krystal Klear Productions is hosting The Entrepreneurial Kickback: The Business Brunch Edition!
Located at Lightroom Studios 2070 Northbrook blvd. Suite A5 in North Charleston, SC 29406
It is going to be a fun time for business owners and potential business owners to network, relax, and have good quality time! It only costs $20 and that price goes to snacks, bingo, and a goody bag.
For more information visit www.krystalklearproductions.com
We hope that you find what you need from this local event, and don’t forget about how Pathways can help you manage your books for your small business! Contact us today to get started organizing your business’s taxes!
QuickBooks: Quick Tips for Running a Smooth Program
Technology is progressing, and so should you! With the use of QuickBooks, your business can begin running at an optimal pace! QuickBooks has multiple ways to make your life easier, but in order for that to happen, you need to understand how to use it fluidly. Pathways Consulting is here no matter the issue you may be having with your QuickBooks account! Here are some general ideas to keep in mind before you come see us!
Learn the Basics
Sometimes it just takes a little time to get familiar with how a program works, luckily QuickBooks makes it simple and efficient. When you use QuickBooks for the first time, there will be a guided tutorial for you to maneuver the program and learn about each of the buttons, placing data, and setting up accounts. Take your time with this part because it is the most important for getting the most out of the program. If you are in need of help, come by our office at Pathways, or make an appointment with one of our Quickbooks experts.
Keep your Data Safe
These days with online communities and tools, you need to make sure that your are keeping data safe through the use of highly secure passwords. Luckily, if you are already using a QuickBooks account, you can easily change your password.
Correct Information, Always
There is nothing more frustrating than putting information into a system and having it come back as incorrect. Make sure when you are adding information regarding clients and employee details that the information is correct and up to date. This is your business and you want it to run as smoothly as possible!
When using anything online or on a computer, you want to make sure you are saving the data and information on a backup device or hard drive. This will save you a lot of time and frustration if something were you ever happen to the computer or system you were using!
Customize Customize Customize!
Make Quickbooks look the way you want it to! Move the icons around to the best suitable place for you! This will help manage your time as you carefully input information regarding your business.
These were just a few quick tips for running your business through QuickBooks! If you have any more questions or concerns, please feel free to contact our Pathways Consulting Office. We are here to help you!
Quick Tips for QuickBooks
Pathways Consulting understand that learning and understanding a new interface takes time. While we are always here to assist you with the more accelerated features QuickBooks has to offer, we thought compiling tips on beginning stages of Quickbooks would help, too! The information below will cover navigation, icons, and how to maneuver within the program. Quickbooks is known for easy use which will make learning and understanding the interface come sooner than you think!
HOME SCREEN NAVIGATION
The Left Navigation Bar
Perhaps the most important feature of the home screen to familiarize yourself with, the left navigation bar lists all the “centers” you will be working in. The names of each Center is displayed:
Pathways advises all their clients to take a few moments in the beginning to click through each and see what options are available within the Centers. Familiarizing yourself with QuickBooks is the first step in becoming a QuickBooks professional.
Located at the top right of your home screen will be a gear icon. As with many other systems, the gear icon represents access to settings and tools.
Plus Sign (Quick Create)
One of the most convenient tools within QuickBooks, the Quick Create plus sign allows you to create any of the amazing transactions. When you click the icon a list of actions will appear with everything you needs to accomplish for your business. Some example include;
QuickBooks has a large arrangement of lists that you can choose, use, and manage for your business or personal use.
A wonderfully organized location where you can see all transactions regarding sales including sales receipts and invoices. *Note that deposits will not be included in this section
A nice location to store all your many customers! Make sure you have as much information on each customers as possible, the more detail the better you are in the long run! Running a smooth business is difficult, but using QuickBooks’ efficiently will help!
Expenses / Vendors
As with the title, you can expect what will be within these lists. Expense transactions will be located in the expenses list in an organized fashion. Vendors will be listed with the corresponding list title.
Accounting / Chart of Accounts
You may want to ask one of our talented staff to go over the Accounting and Chart of accounts with you so you can receive a better understanding of what this section of QuickBooks does and needs to function. As with any business, each moving part matters! When you use other QuickBooks services such as invoicing and expenses, you will be able to choose an account it wi be labeled as. This provides you and your business with the best organization of accounts in order to see where money is being spent and what on.
Now that you have read through the information we provided, do you feel more confident in your QuickBooks knowledge? If you have any questions or concerns, give us a call and set up an appointment. Our staff at Pathways consulting are here to help you get the best out of your QuickBooks journey!
The Do's and Don’ts of Quickbooks for a Small Business
Running a small business is no small task. Often times, a business owner will find themselves looming over numbers and bookkeeping more so than running their business. Why? Because they haven't switched their business over to Quickbooks! The advantages of using Quickbooks for your small business are endless, but here are some quick do's and don'ts when it comes to understanding what Quickbooks can do for you!
Take advantage of the automatic bookkeeping tasks
QuickBooks is a wonderful tool that takes time to devote toward Small Businesses. With is comes the ability to connect various kinds of money keeping engines. Connect your bank, PayPal, credit card, or Square to access transaction access. Quickbooks will even take of the calculations, so you don’t have to! Balancing has never been so easy!
Perform tasks on mobile while in the field
Does your business require you to be on site and not cooped up in an office? With Quickbooks, mobile is just as functional as the desktop version! With todays technology, there is no reason for a business owner to be unable to access all bookkeeping information while on the go. Your information will be synced with Quickbooks so all changes will be kept safe and correct.
Use Quickbooks to keep a healthy business
Quickbooks allows you to stay organized in order to keep your business running smoothly. Receive reports and access to data that shows you how your business is doing in a straightforward fashion.
Manage bills on your own
It’s frustrating having to keep up with paying bills on multiple platforms. With Quickbooks, all bills are easily scheduled and formatted. There is no need to manage your bills on your own. Everything is documented when using the billing section of Quickbooks, even your records and bookkeeping.
Forget to log expenses
There is nothing left unlogged with Quickbooks. When making purchases for the business, quickly use the mobile app to take a photo of receipt. Quickbooks will quickly log and organize the expense among previous entries. No more worry of having lost a receipt!
Become frustrated at tax time
With Quickbooks, you don’t have to worry about being unorganized when Tax Time comes around. If you have used Quickbooks efficiently, the software will organize all the information you need for tax season for easy access. All records are alongside the FASB regulations.
There are only positives when it comes to Quickbooks helping your small business. Ensure that you are getting the most out of your experience with Quickbooks by asking any of our trusted members of Pathways Consulting. We are trained in understanding Quickbooks to the fullest extent and love helping others! Take your business organization to the next level with Quickbooks and our help!
The Pathways Team