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The beauty of QuickBooks is that it can be used for so many different kinds of businesses. Its smart design lets realtors and retail shops, plumbers and plastic surgeons use it to track income and expenses, pay bills and invoice customers, and to run those all-important reports. But Intuit...

Most types of income are taxable, but some are not. Income can include money, property or services that you receive. Here are some examples of income that are usually not taxable: Child support payments; Gifts, bequests and inheritances; Welfare benefits; Damage awards for physical injury or sickness; Cash rebates...

Military personnel and their families face unique life challenges with their duties, expenses and transitions. As such, active members of the U.S. Armed Forces should be aware of all the special tax benefits available to them that can make it easier to file their tax returns and possibly lower...

Do you plan to travel while doing charity work this summer? Some travel expenses may help lower your taxes if you itemize deductions when you file next year. Here are five tax tips you should know about travel while serving a charity. 1. You must volunteer to work for...

September is often a time of transition, when people decide to make major life decisions–such as changing jobs. If you’re looking for a new job, then you may be able to claim a tax deduction for some of your job hunting expenses–as long as it’s in your same line...

Of all the retirement plans available to small business owners, the SIMPLE IRA plan (Savings Incentive Match PLan for Employees) is the easiest to set up and the least expensive to manage. These plans are intended to encourage small business employers to offer retirement coverage to their employees. SIMPLE...

If you moved due to a change in your job or business location, or because you started a new job or business, you may be able to deduct your reasonable moving expenses; however, you may not deduct any expenses for meals. If you meet the requirements of the tax...

Tax rules on rental income from second homes can be complicated, particularly if you rent the home out for several months of the year, but also use the home yourself. There is however, one provision that is not complicated. Homeowners who rent out their property for 14 or fewer...

  September 10 Employees Who Work for Tips – If you received $20 or more in tips during August, report them to your employer. You can use Form 4070. September 16 Individuals – Make a payment of your 2013 estimated tax if you are not paying your income tax for the...

You’re probably happy to see couriers delivering inventory items you’ve ordered since it means you can ship to customers, but recording the new stock means yet QuickBooks’ tools can help with this, but you need to be sure you’re using the right forms. There are two different ones that...

The Financial Dream Team is excited to announce the launch of the new online store (www.tressesbysisters.com) for Tresses By Sisters (TBS) – designed and developed by the Financial Dream Team. All starting with an idea by the owners of TBS (Whitnie Dunston, Jasmin Dunston, Tracie Dunston). The Financial Dream...

If you gave money or property to someone as a gift, you may owe federal gift tax. Many gifts are not subject to the gift tax, but there are exceptions. Here are eight tips you can use to figure out whether your gift is taxable. 1. Most gifts are...