Category Archives: Tax

Prepare for Year-End: Know Your Deadlines

Updated April 27, 2020 “I love deadlines. I like the whooshing sound they make as they fly by.”  – Douglas Adams I have to agree with my good pal Doug here – keeping track of deadlines is hard! For some business owners, it’s a full-time job. You have project deadlines for customers, payroll deadlines for […]

How to Stop Being a Procrastinator

It seems like there are three types of people out there when it comes to year-end and procrastinating. Which one would you classify yourself as? The uber prepared – You have been preparing for year-end all year long! You have a checklist of what you need to do and everything is tidy and organized, just […]

1099-MISC: Frequently Asked Questions

It’s that time of year again! We’re watching 2018 come to a close and at BBB we are reminded of the many necessary tasks that accompany the end of the year. One of these is the filing of 1099-MISC and other information returns. Below are some questions that we’ve been asked in the past and […]

Xero the Hero: Setting Lock Dates

This time of the year is when most businesses are finalizing the last fiscal year for taxes. Once you have finalized your transactions for the prior year or period, it is very important to lock the dates in Xero. What does it mean to lock dates? Locking dates stops data from being changed prior to a […]

How to Avoid Sales Tax Surprises

Sales tax laws are constantly changing, and sales tax audits have increased since states and local agencies have become creative about finding new ways to generate revenues.  If you haven’t made any changes in your sales tax procedures in a while, you are probably at risk.  Taxability From state to state, the taxability of items […]