As tax season winds down, our resident bookkeeping mensch, Paul Rosenblum, has some words of wisdom for small business owners in this special (and not ranty) client’s toolkit episode. Toolkit for what? Being good to YOUR bookkeeper (even if they’re not Paul). The heart of it is, as Billy Joel aptly says, “It’s a matter of trust”.  Paul outlines how  small business owners can have realistic expectations, communicate clearly and often, and maintain transparency in financial matters with their bookkeepers. And there’s some bad behavior that’s not okay to do that he’ll share with you as ..read more

Curious about the differences between online bookkeeping software options? Our resident Bookkeeping Mensch, Paul Rosenblum, has got you covered! He shares crucial insights about the options available including the free, the simple and the ala carte (yes, that’s a thing!). If you’re just starting your business and are looking for the right bookkeeping software OR are in need of a change, get ready to take some notes. And remember, always balance your books, but never balance on a high chair – it's just not worth the risk! ? Newsletter: https://paulrosenblum.substack.com/ ? YouTube: https ..read more

Alright, folks, listen up! This episode is a must for all you business owners and bookkeepers out there, because we're diving deep into the realm of online accounting……software! It's a game-changer, sure, but before you jump on the bandwagon, let our resident bookkeeping mensch, Paul Rosenblum, walk you through the ups and downs of each option. With his savvy insights, you'll be armed to make the right call on which cloud-based accounting tools to roll with. So sit back, grab a coffee (or something stronger), and let's jazz up your financial game plan for success! ? newsletter: https://paulr ..read more

Alright, folks, listen up! This episode is a must for all you business owners and bookkeepers out there, because we're diving deep into the realm of online accounting……software! It's a game-changer, sure, but before you jump on the bandwagon, let our resident bookkeeping mensch, Paul Rosenblum, walk you through the ups and downs of each option. With his savvy insights, you'll be armed to make the right call on which cloud-based accounting tools to roll with. So sit back, grab a coffee (or something stronger), and let's jazz up your financial game plan for success! ? newsletter: https://paulr ..read more

In the midst of tax season, our resident bookkeeping mensch, Paul Rosenblum, delves into three crucial small business bookkeeping adjustments to make sure you avoid IRS scrutiny. Through three case studies, he addresses careful business shifts in payroll, company to company transfers, and intercompany transactions. Emphasizing his personable approach, Paul advocates for thorough bookkeeping cleanup coupled with robust client-bookkeeper relationships based on trust to effectively handle all of these changes. ? newsletter: https://paulrosenblum.substack.com/ ? YouTube: https://www.youtube.com ..read more

Ever wondered why partnership distributions sometimes leave partners scratching their heads, wondering where all the money went? Our resident bookkeeping mensch, Paul Rosenblum, delves into the intricacies of managing finances for a landscaping company partnership. He unravels the mystery behind taxable income on K1 forms and the nuances of distributing profits. Discover the secrets to navigating partnership finances and ensuring a smoother tax reporting. ? newsletter: https://paulrosenblum.substack.com/ ? YouTube: https://www.youtube.com/@Bookkeepermensch ? website: https://bookkeepermens ..read more

Strap on your running shoes so you can train with our resident Bookkeeper Mensch, Paul Rosenblum, for his tax marathon preparation. Discover his methodical process for evaluating and streamlining clients' financial records, akin to pacing for a marathon, emphasizing precision and client engagement as crucial checkpoints along the way. He’s so prepared, in fact, that he recorded this episode during the holiday season in December. He’s got reps of audits, reconciliations, and client emails and calls to cycle though. But this is Paul we’re talking about and he’s handing it like an Olympic champio ..read more

Why is July 31, 2024 a date to remember and possibly cry over? In this episode, our loveable bookkeeping mensch, Paul Rosenblum, takes us on a rollercoaster of emotions as he grapples with the impending retirement of certain QuickBooks Desktop products. That happen on, you guessed it, July 31st this year. Amidst the cheerful buzz from other users, Paul laments the looming changes, details the general decline in small business software over the years and, yes, vents about technological “progress” making his job harder, not easier.  ? newsletter: https://paulrosenblum.substack.com/ ? You ..read more

As promised, it’s time for our resident bookkeeping mensch, Paul Rosenblum, to update us on the 1099 situation. He specifically addresses the introduction of 1099K forms by third-party payment apps like Venmo and PayPal for transactions over $5,000 starting in 2025. Although this change is still some time away, it’s important to understand the potential challenges and questions surrounding how this might cause confusion. But don’t worry, you’re in good hands with Paul. He’ll continue to keep you updated on updates as time goes on in future episodes.  ? newsletter: https://paulrosenblum ..read more

It’s organizational time with our overworked Bookkeeper Mensch, Paul Rosenblum. He’s not taking breaks these days but he did make time to share the importance of archiving documents with you in this episode. Remember, the IRS requirement is to retain readable receipts for seven years. But how? In order to show you, Paul explains how he has used both a paper and digital filing system to stay IRS organized. Keeping meticulous record-keeping can help you avoid issues during audits. You may think that you don’t have time to keep your business records this organized BUT but Paul stresses that not m ..read more