Reaching Stars Bookkeeping

03/19/2024

📢 Quick Bookkeeping Tip! #2

📤💵 Know Your Business Expenses

🤔 It’s difficult to predict what kind of expenses you’re going to tackle when you start running your business, and what kind of costs are deductible from your taxes. For instance, costs related to the company's operation and connected to your generation of income might be tax-deductible. However, if you buy something that’s just for you – you shouldn't add that to your business accounts.

⚠️ Mixing business and personal accounts doesn’t mean that you can simply claim everything you buy. You need to review and understand what’s claimable under federal and state tax laws. If you’re not sure what counts as a deductible purchase, contact either an accounting professional, CPA or your local tax preparer.

01/31/2024

✨️ Quick Bookkeeping Tip! ✨️

📃 Build an Audit Trail
Also known as a Paper Trail

⚠️ No matter how careful you are with your books, you could still end up with a tax audit on your hands. You must leave a trail of documentation that backs up everything you’ve purchased, and everything your customers have paid for.

An audit trail is essentially a selection of documents that prove the transactions recorded in your books are, in fact, true. Your audit trail will help you to retrace your steps if you have any issues with things like tax inaccuracies, source documents, or missing transactions.

12/27/2023

Working on a "business profile" - in lieu of a resume since I work on a contract-basis and not applying to be an employee - to show a brief overview of my experience for my bookkeeping business. I like it so far! 😊

12/05/2023

📢 Bookkeeping! 📢

🤔What comes to your mind when you hear that word? 🤔

😖Do you think about the stress of trying to get caught up on your finances? 😖

🕰How about the valuable time that it's going to cost you to clean up your bookkeeping - time that you'd rather spend with your loved ones? 🕰

💸Or, how about how much it's going to cost to file taxes if the bookkeeping is not up-to-date and organized? 💸

Or any of these pain points:
⚠️ That darn shoebox full of receipts
⚠️ Arguments with a spouse or partner
⚠️ Not enough time to keep up with bookkeeping
⚠️ Burnt out
⚠️ Just don't want to do it anymore

Now, sure, you can go online and search for a bookkeeper, but what you'll mostly find is, "I'm certified with this", "I sell that", "pay me money", or my favorite; "‼️CHEAP BOOKKEEPING SERVICES HERE - CLICK HERE DON'T WAIT!‼️" Blah, blah, blah, gross! 🤢🤮

Wouldn't it be nice if someone cared more about You, Your business, and Your pain points with your bookkeeping? 🥹

If your answer is "yes", then that's my cue! I'm not going to list my services or shove my qualifications in your face, because honestly, who cares about that!? 🤨

Instead, I want you to:
✨️ Tell me about yourself
✨️ Tell me about your business
✨️ Tell me about your pain points
✨️ Be wary about those promises of "cheap" bookkeeping mumbo-jumbo crap - remember, you get what you pay for and I'm not cheap!

So, if you're sick of those degenerate baboons trying to pass off as bookkeeping professionals, let's have a chat! 😄

https://calendly.com/shanndell

10/11/2023

The End of the Year is quickly approaching!
Are your books ready?
Here are 4 Bookkeeping Tips to prepare for the End of the Year:

1. Gather and organize all of your receipts pertaining to your business. This is your "paper trail" to serve as proof of your payments and purchases.

2. Collect on past-due invoices from this year so that your expenses and revenue are accurate. As a business, you provide a product or service and you need to collect payments to continue operating and serving your customers/clients.

3. Begin collecting necessary forms for vendors and/or employees, like 1099 or W-9 forms.

4. Make sure your contacts' information is up-to-date and accurate such as customers, vendors, and/or employees.

Bonus Tip: Working with a bookkeeping professional can help alleviate the stress and headaches associated with bookkeeping!

01/12/2022

Tax Season is upon us and even though I'm not well-versed in taxes - yet - here's a helpful bookkeeping tip:

*Get organized early! If you have a shoebox full of receipts, try to organize them by month so it's a little bit easier on you and/or your tax preparer.

Or, a more preferred way is if you use a software like QuickBooks Online, categorizing your transactions will help immensely. Not fond of doing those tedious tasks? A bookkeeping professional can be beneficial in bringing you peace of mind and freeing up your time!

01/02/2022

Happy New Tax Season! (Also New Year!)

Getting a head-start on your taxes can help save some major headaches later in the year. Just a friendly reminder that the IRS.gov website is a great resource for Tax questions!

Stay safe and healthy!

Pay your taxes. Get your refund status. Find IRS forms and answers to tax questions. We help you understand and meet your federal tax responsibilities.

11/22/2021

4 Bookkeeping Tips for the End of the Year!

1. Gather and organize all of your receipts pertaining to your business. This is your "paper trail" to serve as proof of your payments and purchases.

2. Collect on past-due invoices from this year so that your expenses and revenue are accurate. As a business, you provide a product or service and you need to collect payments to continue operating and serving your customers/clients.

3. Begin collecting necessary forms for vendors and/or employees, like 1099 or W-9 forms.

4. Make sure your contacts' information is up-to-date and accurate such as customers, vendors, and/or employees.

Bonus Tip: Working with a bookkeeping professional can help alleviate the stress and headaches associated with bookkeeping!

09/11/2021

Payroll!

Whether a business owner has one employee or fifty employees, running payroll can be daunting. Calculating federal and state tax withholding, insurance, wages, and deductions can quickly overwhelm a new or small business owner, which can be costly.

This is why it is recommended to team up with a third-party payroll service provider that specializes in handling payroll. With the help of one of these providers, running payroll - and staying compliant - can become a much easier process.

And there's more good news!

A bookkeeping professional who is proficient with payroll and who is partnered with a third-party service provider can make running your payroll even easier. Also, having a bookkeeping professional to record your payroll entries into your accounting software will help ensure that all of your bookkeeping is accurate!

09/06/2021

Project Management

Managing projects can be a complicated and confusing area of bookkeeping for business owners, especially if they are tracking multiple projects at once. Between tracking different locations, specific room designs (for Interior Designers), separate clients, time, invoices, and billing, projects can be overwhelming!

Thankfully, tracking these projects doesn't have to be stressful with the help of a bookkeeping professional! In addition to keeping a watchful eye on the finances for your business, this professional can help manage your projects and free up your time! By working together with a bookkeeping professional, your projects can be properly and accurately tracked, resulting in more peace of mind for you!