Chances are, it does. We proudly advertise in #equestrian print publications like the The Chronicle Of The Horse because we specialize in equestrian bookkeeping, billing & invoicing (and letting you keep doing the things that make you money!) If you have questions, we can help. Check out our "services offered" page https://www.saulbookkeeping.com/services-offered and call or email to schedule a quick & free consultation. Equestrian businesses of any discipline and size. #equi
As we start to get closer to 2023, it’s a good time to review your Accounts Payable. Here’s a quick list of everything you should look at while we’re still in 2022: 💡 review list of unpaid or open bills for any year-end adjustments 💡 pay off any bills that need to be recorded in the current year 💡 review if you should prepay any bills One of the last things you need to do before the end of the year is reconcile all of your accounts. This includes your checking, petty cash,
Fixed assets are an important part of any business. 🔜 Before the end of the year be sure to do the following: 💡 review records to make sure all purchases are recorded 💡 update to remove any assets that have been sold or junked 💡 have receipts available for tax prep If you need help with your bookkeeping (big or small!) reach out, we're here to help. Head to our website www.saulbookkeeping.com and find out how we can best help you and your business. Equestrian or not, we c
Before the end of the year, be sure to take time to review the status of your loans. Here are 3 things to review: 💡 review records to make sure principal/interest payments are recorded 💡 have year-end statements available for tax purposes 💡 check if you should make an extra payment for year-end If you need help with your bookkeeping (big or small!) reach out, we're here to help. Head to our website www.saulbookkeeping.com and find out how we can best help you and your busi
Are you an existing Saul Bookkeeping client? We would love it if you would take a minute to give us a testimonial on our Google Business page! Here's a direct link - it should open a pop-up window that will let you type directly into it as soon as you click on the link.
Thank you and thank you for being a client!
#bookkeeping #accounting #financialplanning #equestrian #smallbusiness
Right now pretty much everyone is trying to hire staff. But it's important to remember that an employee costs your business more than just their salary.
For example, if you decide to hire someone for 10 hours a week at a rate of $10 per hour, did you know that one pay period will end up costing you $120.45?
Here’s how it breaks down: $100.00 Salary $7.65 Employer Payroll taxes $12.00 Workman’s Compensation (12%) $0.60 FUTA (1st $7,000) $0.20 SUTA (1st $8,500) $120.
We're excited and proud to share that our own Sheryl Sutherby contributed to this new book from our friend and client Margaret McKelvy of Mythic Landing Enterprises LLC!
Sheryl's Coursework & Traditional Gymnastic exercise is featured on page 177.
If you're interested, head to Horse & Rider Books to order a copy. You're supporting small business and getting free shipping at the same time! #smallbusiness #marylandsmallbusiness #trafalgarsquarebooks
What does that final section of your balance sheet mean? This final Equity section will vary depending on the type of entity your business is set up as. To put it simply: Assets - Liabilities = Equity
Keep in mind that your balance sheet represents one date in time. The figures represent balances, and since the balances change daily, a balance sheet only represents one point in time. This contrasts with your income statement, which covers a period of time and has a “from”
💡 #moneytip While it may seem unnecessary and even annoying, it is really important to reconcile your accounts on a monthly basis. Not only does this save you time at the end of the year, but it also gives you the opportunity to find any mistakes, including any unauthorized activity, in your books before it’s too late. ➡ If you simply don’t have the time to reconcile your accounts on a monthly basis, give us a call! We have packages for every size business and budget. www.sa
When employees lose their W-2 or claim they never received one, what should you do? Adjust the following sample policy based on your needs:
1. Require that requests for a duplicate W-2 be in writing.
2. Create a “Duplicate W-2 Request Form.” The form should include lines for:
· the date the request is made;
· the date you mailed the duplicate; and
· change of address (if the W-2 is returned and the employee complains, you will want this).
🦃 Tax Tips for Turkeys! (Just keep reading, there's a method here really! 😉) 🎄 If your business gives out year-end gifts to employees, here is a quick guide to what is considered taxable income and what is not: - Non-cash gifts: Include the fair market value in wages subject to FIT, FITW, FICA and FUTA - Non-taxable gifts such as fruit baskets, hams, turkeys, wine, flowers and entertainment tickets to a show, sporting or other event (but not season tickets) are generally '
By Pam Saul, CB of Saul Bookkeeping One of the most frequently asked questions I get from Solopreneurs has to do with when they should start letting go of tasks. As we all know, every new business owner must wear 27 different hats! Not only do we act as the CEO (Chief Everything Officer), but also the Administrative, Financial, Marketing, Insurance, Customer Assistant and IT Support. Here is what I usually say: When the task is taking too much time away from you being able to
🔥🧐 If you pay taxes in FLORIDA you might want to listen in here... I got notice today (early August) from Florida’s Tax Information Publication (TIP) that the Florida legislature must consider adopting the IRS codes for 2021. (Considering we’re already in the 8th month of the year, they're a little behind!)
➡️ Of all the tax codes, the one they decided NOT to allow is the 100% deduction of a business meal supplied by a restaurant. It says that taxpayers need to add back to