Ledger Harmony

For all my procrastinators out there, you have an extra month! It’s official, the new tax deadline for individuals will be May 17, 2021.

IRS postpones April 15 U.S. tax deadline to May 17 The IRS is pushing back the deadline for the tax filing season about one month, to May 17 from April 15.

IRS delays start of tax filing season to Feb. 12

2020 filing season won’t begin until February 12, 2021.

cnbc.com The IRS will begin receiving 2020 income tax returns on Feb. 12.

IRS

Social Security recipients will get economic impact payment without filing taxes for 2018 or 2019. will instead use the information on their Form SSA-1099 and Form RRB-1099. More at www.irs.gov/coronavirus

Consumer Financial Protection Bureau (CFPB)

If you can’t make your mortgage payments because of the coronavirus, start by understanding your options and reaching out to your servicer for help.

If you haven't been so great at record keeping in the past, now is a great time to start!

Good record keeping can make preparing your tax return easier. As you for tax filing season, make sure that your records include receipts, canceled checks and other important supporting documents. For more information on good recordkeeping, click here: www.irs.gov/getready

IRS issues 2020 standard mileage rates

Mileage rates are down slightly from 2019 to 57.5 cents per mile for business use... Tip for the beginning of the year, take a picture of your odometer reading now so that you can recall your beginning mileage later.

journalofaccountancy.com On the last day of 2019, the IRS issued the standard mileage rates for 2020 for business, charitable, medical, or moving expense purposes, as well as other deduction amounts.

Here’s How to Fill Out the New 2020 W-4 Form

If you start a new job or need to adjust your withholdings in 2020 you will notice the new W-4 looks quite a bit different from last year. This article talks about the changes and includes a guide on how to fill out the new W-4.

gusto.com Learn how to fill out a W-4 in 2020 with this in-depth guide to the Form W-4 instructions.

I couldn't let National Dog Day go by without sharing a picture of my goofballs! ❤️

This can be a HUGE tax saver for a lot of small businesses! You can only deduct mileage OR actual expenses, but in most cases you get to choose the one that is the most beneficial. Make the most of it, keep a written mileage log and keep all your receipts!

Your small business may have several tax deductions that can help you move forward, including your vehicle operating costs. Learn more at https://www.irs.gov/newsroom/small-businesses-can-benefit-from-deducting-vehicle-costs-on-their-taxes

Happy Easter!

Ledger Harmony had been an idea in the works for a couple months already, but 2 years ago today the business became officially registered in the state of Kansas. Celebrate with us throughout the month of April!

Happy opening day to all you baseball fans out there! Tax season is still in full swing, but I'm dreaming of warm evenings at the diamonds.

I want to know, what do you think is the best thing about owning your small business?

I'll get the conversation started, for me it's really two things 1) Getting to help other business owners and truly knowing that my job makes a difference and 2) Setting my own hours so that I can always be there for my family when they need me.

Gusto

For all the makers and product based businesses, if the words "COGS", "Overhead", or "Markup" make your head spin this is a fantastic article that breaks it down for you!

Whether you're selling bracelets or bread, you want to make sure you're not charging your customers too much—or too little.

Happy St. Patrick's Day!

Every taxpayer needs to read this! Remember, the IRS is never going to email you asking for personal info or payment.

Don't let your guard down! Phishing schemes are still a top concern on the 2019 list of tax scams www.irs.gov/dirtydozen

Monday
Most of the business owners I talk to start their business out of passion for what they do. Money follows the passion, but managing the money is a completely different story. The good news is there are people that can help with that so you can get back to focusing on what you love.

Cheers to a fantastic weekend!

Happy President's Day!

Happy Valentine's Day!

In addition to Lincoln's birthday, today is National Lost Penny Day. It's a day dedicated to searching those couch cushions and scouring the parking lots.
One way to ensure you're not loosing pennies (or a whole lot more) in your business is to have a great bookkeeping system where every penny is accounted for.

Happy 158th Birthday Kansas! 🌻

Happy Kansas Day! 🌻

$0.58 for business use!!

IRS annouces standard mileage rates for 2019: https://go.usa.gov/xE3RH

IRS Announces 2019 Tax Rates, Standard Deduction Amounts And More

Looking ahead, 2019 tax rates & standard deductions have been announced!

forbes.com The Internal Revenue Service (IRS) has announced the annual inflation adjustments for more than 60 tax provisions for the year 2019, including tax rate schedules, tax tables, and cost-of-living adjustments.

LOL! So true, debt sometimes seems like a mountain you can't move. Budgets are a tool that can help but as I'm learning, they aren't the solution...the problem goes much deeper and there has to be an internal (psychological) shift for tools to work. I'm so excited to be learning more about our relationship with money and can't wait to share more with y'all!

Intuit QuickBooks

It’s important to pay attention to your tax responsibilities, even for new small businesses. Stay on top of the tax game to maximize deductions and prevent liability issues.

Budget Deal Revives Expired Individual Tax Breaks For Homeowners, Students And Environmentalists

Tax breaks extending in the middle of tax season!?! What!? ...Reason #543 why you need a tax pro. 😊

forbes.com Congress has reinstated individual tax breaks that didn’t make it into the December tax overhaul, meaning tax savings for your 2017 tax return.

1099-MISC & W-9 Q&A • Tax Forms • Ledger Harmony

In this video I'm going to answer a few of your questions on the 1099-MISC & the W-9: (And, if you haven't already, go back and check out the last 2 videos! All about the W-9, and the 1099-MISC.)

ledgerharmony.com In this video I'm going to answer a few of your questions on the 1099-MISC & the W-9 tax forms. Who issues the 1099? Do I issue a 1099 to someone that has performed work for me personally? Do I have to give out my Social Security #? What do I do if a contractor refuses to fill out the W-9?

Do I Need To Issue A 1099? An Easy Way To Find Out • Ledger Harmony

Do you wish there was an easy way to figure out if you need to issue 1099's? If you answered "yes" then this is the video for you! Check out my newest video all about the 1099-MISC: (And don’t forget to come back tomorrow for my next video, Q&A on the 1099 & W-9.)

ledgerharmony.com Do you wish there was an easy way to figure out if you need to issue 1099's? If you answered "yes" then this is the video for you! Today we are going to talk about the 1099-MISC. What it is, who needs to issue it and when you need to issue it.

Why You Need A W-9 For Each Of Your Contractors • Ledger Harmony

What is a W-9? Who needs a W-9? And why? Check out my newest video all about the W-9: (And don't forget to come back tomorrow for my next video, all about the 1099-MISC.) Today we are going to talk about the W-9. What it is, who it’s for, and why every business should have these on file for their freelancers, consultants, and contractors.

ledgerharmony.com The W9 is a form that the company should have on file for anyone that did any sort of work for the company, but was not an employee of that company. This would include freelancers, consultants, contractors, and vendors. And this could be an individual or another company.

Custom Collection Giveaway

My beautiful friend and go-to designer, Amanda at Leighwood Design Studio, is giving away a custom invitation suite to one lucky couple! Check out the details below, share this with any engaged couples that you know, and head on over to her Instagram page to enter!
https://www.instagram.com/leighwooddesignstudio/

leighwooddesignstudio.com

What Is Ledger Harmony? • Official YouTube Launch • Ledger Harmony

I am so excited!!! Today I'm formally launching my YouTube Channel! Here's my "official" first video- an introduction to Ledger Harmony. (And come back tomorrow, because in celebration of my YouTube Channel launch I'm releasing a new video each day, for the next 3 days!) What is Ledger Harmony? It’s the financial solution for your small business. It’s about helping you gain a better understanding of your finances, increase your profits, reach your financial goals, and bringing your money & life back into balance.

http://ledgerharmony.com/index.php/2018/01/15/what-is-ledger-harmony/

ledgerharmony.com I am so excited!!! Today I’m formally launching my YouTube Channel! Here’s my “official” first video- an introduction to Ledger Harmony. (And come back tomorrow, because in celebration of my YouTube Channel launch I’m releasing a new video each day, for the next 3 days!) What is Ledger Har...