Here are some examples to help you understand what is and what isn’t deductible. Cost of a package that includes a ticket to a charity gala event. – The charitable portion is still deductible, rest is considered entertainment and will not be deducted. Show ticket – Going to WVC in Las Vegas it’s always fun.… Continue reading Meals and Entertainment at the Veterinary Clinic – What Are The Changes Under New Tax Law?
We outlined some of the major provisions effecting a veterinary practice in our most recent blog post. Since then, our wise Washington leaders took it upon themselves to reinstate many of the tax credits and deductions that expired December 31, 2016, retroactive back to January 1, 2017. Yes, provisions that went by the wayside over… Continue reading How Will the Recently Passed Tax Laws Effect Your Veterinary Practice – Part 2
Main reasons why people don’t do budgets because they find it boring, unnecessary, they don’t have time, find it difficult or lack the confidence in making money-related decisions. Budgeting in 4 steps! Step 1 – Track your expenses – There are two ways to do this. Hard way and easy way! I used to write… Continue reading Tell Your Money Where To Go
In the beginning, there was an idea, a vision, a goal. Start a practice, be your own boss, work flexible hours and most importantly, do what you love to do and what you believe in. The beginnings are so sweet, full of passion and determination. However, according to statistics published by the Small Business Administration,… Continue reading Why Some Practices Struggle?
Why do we use Xero for our own company and also recommend it to our client’s for online accounting? Here are a few of the reasons. Xero is very user-friendly and is simply better,faster, and smarter. The Xero bank reconciliation is simple and efficient, it has an approval system for invoices and bills and offers features that… Continue reading Why Use Xero in Your Veterinary Practice?