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Client using Quickbooks Online

When RYBD Recommends QuickBooks Online vs. QuickBooks Desktop

80% of small, growing, service-based businesses use some form of QuickBooks®. That’s more than 29 million small businesses in America that depend on this industry-standard accounting software to manage their finances, pay their vendors and even execute Payroll. Many of the smaller businesses serviced by Rhodes, Young, Black & Duncan, CPAs (RYBD) use QuickBooks® Online […]

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Accountant performing bookkeeping tasks

Keeping Clean Books Can Help Minimize Taxes

Bookkeeping is definitely one business activity that rewards an ounce of prevention. For many businesses owners who are fresh off their end-of-the-year financial close, staying on top of their company’s finances in the coming year takes the top spot on their resolution list. Correcting mistakes and reallocating financial posts made against the wrong budget category

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Balance Sheet

Let your financial statements guide you to optimal business decisions

Now that 2022 is up and running, business owners can expect to face a few challenges and tough choices as the year rolls along. No matter how busy things get, don’t forget about an easily accessible and highly informative resource that’s probably just a few clicks away: your financial statements. Assuming you follow U.S. Generally

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Retirement Plan Limits

IRS announces adjustments to key retirement plan limits

In Notice 2021-61, the IRS recently announced 2022 cost-of-living adjustments to dollar limits and thresholds for qualified retirement plans. Here are some highlights: Elective deferrals. The annual limit on elective deferrals (employee contributions) will increase from $19,500 to $20,500 for 401(k), 403(b) and 457 plans, as well as for Salary Reduction Simplified Employee Pensions (SARSEPs).

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