QuickBooks Online vs. QuickBooks Desktop: An Overview QuickBooks Online and QuickBooks Desktop are both small business accounting software applications from Intuit that offer complete double-entry accounting along with automatic processing of closing entries.Though both applications offer many similar services, and the allure of “easy-to-use” and “always accessible” online software is … [Read more...]
Small Business Covid Paid Sick Leave Programs in Massachusetts and Rhode Island
All employers in Massachusetts are required to provide up to 40 hours of job-protected, paid leave for various COVID-19-related reasons. Massachusetts Governor Charlie Baker signed House Bill 3702 into law on May 28, 2021. The MA Emergency Paid Sick Leave (“MA EPSL”) will take effect on June 7, 2021, and will extend through September 30, 2021, or until the $75,000,000 fund established to reimburse … [Read more...]
Why Every Small Business Needs A Management Team
Even though small businesses may not have the budget to hire full-time employees in all areas critical to running their business, every small business can build a diverse management team of contractors, service providers, and consultants with complementary skills. The key positions and roles to build a small business management team are:Bookkeeping and Accounting Certified Public … [Read more...]
How To Navigate PPP Loan Forgiveness, 1st And 2nd Draws
Why was the Paycheck Protection Program (PPP) loan created? The Paycheck Protection Program (PPP) was created by the CARES Act to provide forgivable loans to eligible small businesses to keep American workers on the payroll during the COVID-19 pandemic. PPP loans draw one and two. The First Draw PPP started on March 2020 and has been extended multiple times. On January 6, 2021, the Small … [Read more...]
How To Benefit From The Employee Retention Credit In 2021
What is the Employee Retention Credit? As a result of the coronavirus pandemic the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) contained a business relief provision known as the Employee Retention Credit (ERC). The Employee Retention Credit is a refundable tax credit against certain employment taxes on qualified wages an eligible employer pays to employees after March 12, … [Read more...]