John F. Dennehy Jr., CPA, PC

Simple Small Business Guide for Managing Payroll Reconciliation

Payroll reconciliation involves verifying all of your employees have been properly paid. At the same time, payroll reconciliation ensures taxes are paid and reported correctly. In the end, this meticulous checks-and-balances process will guarantee all the expenses are applied to the proper account. Even so, how you reconcile payroll can be based on a variety […]

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Calculating Home Office Depreciation & Deductions

If you work from home as a freelancer or operate your business in a home office, you may be eligible to use home office depreciation. When preparing your taxes, you can typically take a deduction for your home office expenses as well as the cost of the assets you purchase. to learn more […]

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Small Business Tax

Develop Small Business Tax Strategies

Save time and money with these small business tax strategies from John F. Dennehy Jr. CPA, PC. Contact us today for innovative small business tax planning strategies.Researching small business tax strategies is a year-round event – if you are interested in saving money and minimizing your overall tax bill. Whether it’s finding tax-friendly ways to […]

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GAAP Compliance

GAAP Compliance Checklist for Dummies

Attaining GAAP compliance is as simple as 1,2,3 with the simple GAAP compliance checklist. Contact John F. Dennehy Jr. CPA, PC today to get started.Traditionally, achieving GAAP compliance has been a daunting and overwhelming process for businesses. GAAP or the generally accepted accounting principles serve as the standardizing accounting rule book for several businesses across […]

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How to Track Business Expenses

The Simple Fool’s Guide for How to Track Business Expenses

Understanding how to track business expenses is one of the most important facets of accounting and bookkeeping.The premise behind tracking your expenses is simple: the higher number of tax deductions your business can take, the lower your overall taxable profit and tax bill will be. However, in order to qualify for these deductions, you must […]

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tax tips and bookkeeping tips for small businesses

Mastering Accounting with Small Business Bookkeeping Tips

Accounting and bookkeeping can be an arduous and tedious task for any business. However, if your small business doesn’t keep a tight ship in regards to bookkeeping, taxes can be a true nightmare.Without an effective system for your small business, several things can and will fall through the cracks and end up costing you money.The […]

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how to file quarterly taxes for sole proprietor

Step-By-Step: How to File Quarterly Taxes for Sole Proprietors

If you’re a sole proprietor, you are fully responsible for the complete control of your business, which includes being liable for all business debts and financial obligations. As a result, sole proprietors must keep excellent records to meet federal tax regulations.Because sole proprietors do not have income taxes regularly withheld from their business income, they […]

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Maximizing taxable deductions without receipts

Guide to Maximizing Your Taxable Deductions Without Receipts

Expense deductions for businesses can save you a boatload of money on income tax liability. However, if the IRS ever audits you, it’s imperative you are able to produce receipts to prove those expenses actually occurred. The IRS allows taxpayers to make certain deductions without receipts. The agency also allows paid bills and credit card […]

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Top 5 Ways To Choose An Accountant

Contrary to popular belief, your accountant should mean more to your business than a simple number cruncher or tax preparer. In addition, your accountant should provide you with an incomparable level of insight in your business. With this insight, you will be able to better notice trends, understand business lines, and operate more efficiently. However, […]

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Checklist: 8 Most Common Items To Include On A Personal Tax Return

A tax return is a document you are required to file with the federal and sometimes state government on an annual basis to show how much income you earned during the year. In general, you will file on either the Form 1040, Form 1040A and Form 1040EZ for personal tax returns. Although everyone can choose […]

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