The Quantify Blog
Hidden Gem For C-Corporations: Part 1
One of the major tax breaks that the new tax laws provided was the implementation of the 21% flat Federal tax rate for C Corporations. Because of this, many existing companies may look to convert their existing business structure to a C Corporation while some new entrepreneurs may also want to consider C Corporations. Since…
Don’t Let the Customer Tell You How to Do Your Job
I first want to thank you all for your patience and continuing to follow along with the blog. There has been a lot going on recently on the personal front so I have had to put some things on the back burner. However, we are ready to start writing again and are looking forward to…
Is a Bookkeeper All I Need for My Business?
This is a very common question among business owners. At times it can be hard to determine the level of accounting service you might need for you business. Let me see if I can shed some light on this situation. When Alex and I first started The Quantify Group, our focus was doing tax return…
5 Reasons You Should Be Using QuickBooks Online
Since I have started my endeavors with The Quantify Group, I have been on countless prospective client meetings. Most of the prospects are small business owners who keep their accounting records on the desktop version of QuickBooks or a comparable program. After I learn this fact from them, my first question to the owner is…
“My Accounting Function Is Just Another Expense”
If I had a penny for every time I heard this, I would be sitting on a beach right now. I know what you’re thinking. “Here comes the sales pitch”. I am not going to lie. I am extremely confident in the work that we do for our clients and that value that we add…
Anddddd We’re Back… Again
Welcome back! It has been a while since my last blog post. Things got a little crazy during tax season and we have taken the last month to get back in the groove. However, spring is here and its time to get the blog going again. I love writing, interacting with you all and trying…
Depreciation Changes for 2018
Tax season 2018 is finally over and now we can all focus more on how this years’ taxes will be playing out. Hopefully you worked with your tax accountant on your 1st quarter estimates for you business and personal taxes. If you haven’t looked at this yet, I strongly suggest you do so immediately. Please…
Section 179D Deduction
This week I wanted to bring to every business owner’s attention the IRC Section 179D deduction. For those who may have never heard of this part of the tax code, the Energy Efficient Commercial Buildings Tax Deduction under IRC Section 179D was enacted as part of the Energy Policy Act of 2005. The law was…
5 Reasons You Should Outsource Your Accounting Function
Outsourcing functions of your business is becoming a much more popular and viable option in today’s marketplace. Companies are able to outsource all sorts of functions including human resource, sales, IT and of course, accounting. Today I want to touch on a few of the advantages of outsourcing your accounting function as opposed to hiring…
5 Ways a Strong Accounting Function Can Grow Your Business
Many successful entrepreneurs view the accounting function in their business as an important investment. I know what you are thinking. Of course he is going to say that, he does accounting! Don’t take my word for it. Take a poll of some of the most successful entrepreneurs you know and ask how they value the…
Pennsylvania 1099 Withholding Changes
Late last year, the state of Pennsylvania made a major announcement with regards to out-of-state sub-contractors working for Pennsylvania companies. Starting 1/1/2018, a Pennsylvania company paying an out-of-state contractor will be required to withhold the 3.07% Pennsylvania taxes on the payment. Recently Pennsylvania has changed the required date of the withholdings to commence on 7/1/2018…
6 Things I Wish I Knew When Starting My Business
Starting a business is hard. There are so many things I wish I knew before starting mine. Looking back, there are 6 things I would have told myself before opening the doors on day one that would have made my journey much easier… 1) Networking & Relationships I feel like every other week I preach…