In the wake of the COVID-19 pandemic, the Employee Retention Credit (ERC) emerged as a lifeline for many businesses, offering financial support to retain employees during challenging times. However, as the IRS deadline approaches, small businesses must tread carefully and ensure their ERC claims are accurate and compliant. Here, we’ll explore common pitfalls and guide how to navigate the ERC landscape effectively. Understanding the ERC: A Brief Overview The ERC, also known as the Employee Retention Tax Credit or ERTC, was introduced to provide financial relief to eligible employers who retaine ..read more

We know artificial intelligence is making strides in many industries, from content creation to software development. But what is the status of AI in accounting and bookkeeping? Well, it turns out it’s not much further removed from where AI leads many other arenas. Yet, with profits at stake, many small business owners want to know if they can (and should) leave their bookkeeping to artificial intelligence. We will look at the facts to decide. Introduction to AI Bookkeeping Imagine this: You’re at the end of a financial quarter, and instead of spending countless hours reviewing records and crun ..read more

Picture a future where the tax system works for you, not against you. Doesn’t seem too far-fetched? Welcome to the reality of the Tax Relief for American Families and Workers Act of 2024. As a pivotal landmark in American financial legislation, this Act promises to shake up the traditional view on taxes. Instead of merely an obligatory responsibility, taxation becomes an opportunity for economic growth for individuals and businesses alike.  We’ll take you deep inside the mechanics and benefits of this innovative policy reform. Prepare yourself for a refreshing perspective on tax policies ..read more

A robust business requires healthy finances. To have an accurate idea of how your business is doing and how to move forward, you need the correct data—the kind of data a good bookkeeper can provide. Your bookkeeper takes care of income and expenses and categorizes them properly. They also prepare your books before tax season so all accounts are handed to the accountant who will file them. Throughout the year, your bookkeeper guides you about your expenses and income and gives you a picture of your cash flow and how your business is doing. A good bookkeeper is a person who is proactive and take ..read more

The word audit can be enough to elicit worry and consternation from business owners and employees alike. For most people, having their work double- and triple-checked by someone else is nerve-wracking. Not many people relish the idea of someone else looking over every detail of their work, poking and prodding for mistakes. Of course, the purpose of an audit is not to poke and prod at one individual’s work. Rather, audits are a method for reviewing the accuracy of a company’s financial statements. Often, they also serve to test the company’s financial controls and processes.    B ..read more

Hopefully, your business made a profit last year. After all, that’s the primary purpose of most companies – to turn profits and generate earnings for owners and shareholders. But how do you know how much of a profit your business made in the past 12 months? Or in the past six months? The past quarter? Figuring out exactly how your business is performing requires more than just counting up your sales and the other money you have coming in the door. You’ll also need an understanding of how much you’re spending to determine the overall health of your business. That’s where a profit and loss state ..read more

Starting a business isn’t easy. It takes a brave soul and a creative mind to deal with all the challenges of building your own company from the ground up. Business owners must wear multiple hats every day, from Chief Marketing Officer to Head Of Human Resources. Once businesses are thinking about hiring their first couple of employees, we recommend investing in our payroll services for small business. Why? Because if they don’t, they end up believing the payroll myths we’ve listed below, and they end up feeling stressed and frustrated instead of confident and successful. At Remote Quality Boo ..read more

What is the purpose of bookkeeping, and how can good bookkeeping improve your business? When it comes to running a company, you need everything in place and to run properly in order for your business to continually function, especially anything related to your financials. Making sure that you’re gaining more money than you’re spending is vital, and keeping track of all income and expenses is equally as important. That’s why bookkeeping is so necessary for a company, and having good, cost-effective bookkeeping is even more necessary if you want your business to continue to run smoothly. If you ..read more

Nearly 54 million Americans are now doing freelance work, according to a 2015 study conducted by the independent research firm Edelman Berland and commissioned by Freelancers Union and Upwork. If you’re a startup or a company who operates in the digital sphere, hiring freelancers can be a great way to access quality work from a much larger pool of applicants. Freelancers don’t require the same benefits, payroll taxes, and other considerations that full-time employees need, but you do have to make sure you have professional bookkeeping services in place before deciding to go that route. Keep r ..read more

Many people start businesses with stars in their eyes. They only imagine the ideal scenario in which customers love their product or services, employees are loyal and trustworthy, payroll and benefits flow smoothly, and their bank account grows continuously year after year. This isn’t a description of reality, of course, because real life is messy and business is even messier. That’s why we offer professional bookkeeping services specifically tailored for growing companies, including analytical procedures that can be used to detect fraudulent activity in your books. Wondering how can a busine ..read more