What is the best way to integrate or connect paypal wiith QBO for shopify?
I recently took a new client who is a Shopify seller, he is using multiple gateways including Shopify payments and Paypal.
currently, his Paypal is connected with qbo and creating a mess due to duplicated transactions, I would like to ...
How to record capital losses on stocks
I had questions regarding capital losses for taxes. So this year, I have made money from stocks and also lost money from stocks. Overall, I am down around 20,000 dollars in stocks. So then can I deduct $3,000 from ordinary ...
If I am starting a business from my home office deductions the first year
If i start a business from my home office and during the first year do not bring in revenue as I am building a internet website can I deduct part of the cost of my business expenses like part ...
How to categorize or record the Paypal payments on Hold?
I have taken a client who is an eCommerce seller and he uses PayPal for his payments from the store, so there are few payments in his Paypal which are on hold and those are not part of the ...
How to calculate depreciation for computers as per IRS?
One of my clients recently purchased computers for $ 5200 and he is estimating the useful life of computers for 5 years.
I have calculated and recorded an accounting depreciation for him for the first quarter by dividing the cost ...
Can a business owner write off any personal medical expenses or health insurance?
Business owner is using medical expenses as a business expense in lieu of health insurance but I don't think they can personally write off either. Can they write of any of these sort of expenses for themselves?
How to fix payroll records?
Hi,
I have a huge issue with the way payrolls have been recorded in QB. I noticed the secretary who has been issuing payroll checks has only recorded the checks net amounts plus the total payroll taxes (employee plus employer) in ...
Is reimbursement an expense or an income to the contractor?
Hi,
I am pretty confused about the reimbursements. If a business owner who pays a contractor for regular work, pays a separate check for a reimbursement, does that reimbursement count as the contractor's income? Or the business owner record that reimbursement ...
How I can allocate joint cost to multiple SKU’s?
One of my client has 40 SKU's and he usually import his products from China or Pakistan and in One Container he usually receive more than one product / SKU, He asked me to allocate the total cost to all ...