The US Office of Management and Budget (OMB) announced the finalization of a new regulation impacting small nonprofits. OMB announced the finalization of new regulations increasing the audit threshold from $500,000 to $750,000 in annual Federal funding and setting a new minimum 10% indirect cost rate on Federal grants.

If you own a business, one of the most important things you should do is to keep careful track of your expenditures and income. This is not only necessary to keep your business afloat financially, but also is an important way to analyze your spending and predict your future revenue. Careful business analysis allows you to predict what your future will be in a way that is not possible otherwise. But this requires best practices in accounting and bookkeeping. To do this efficiently and in a way that will best help your business, here are some of the best practices, according to accounting experts:

Here’s 10 reasons why you should be using QuickBooks….

• You save time on bookkeeping and paperwork because many of simple bookkeeping tasks are handled automatically making it easier to run your business.

Ratios act as a useful tool to measure business performance. Ratios are a quotient of two numbers and the relation expressed between the two accounting figure is known as ‘Accounting Ratio‘. There will be a natural difference between ratios according to the nature of the business, the size of the business, its age and the industry within which it operates.Ration analysis is a very important part of the accounting services, bookkeeping services. Different reports can be prepared and memorized for future use, using QuickBooks Statement writer which is part of QuickBooks Accountants edition. They are generally assessed in relation to a comparator or benchmark such as

Here’s 10 reasons why you should be using QuickBooks….

• You save time on bookkeeping and paperwork because many of simple bookkeeping tasks are handled automatically making it easier to run your business.

Whether you’re self-employed or run a small business, here’s a quick look at what you need to know about the Affordable Care Act.

If you moved due to a change in your job or business location or because you started a new job or business, you may be able to deduct your reasonable moving expenses.

The Patient Protection and Affordable Care Act of 2010 resulted in several changes to the U.S. tax code that affect individuals purchasing health care insurance through the health care exchanges. Let’s take a closer look at what it all means for you.

Tax rules on rental income from second homes can be complicated, particularly if you rent the home out for several months of the year, but also use the home yourself.

There is however, one provision that is not complicated. Homeowners who rent out their property for 14 or fewer days a year can pocket the rental income, tax-free.

#1: Sir John Templeton: “Invest at the point of maximum pessimism.”

#2: “Raise the deductibles on your motorcar and residential insurance.”

#3: For simple federal tax-exempt wealth transfer, make $14,000 annual gifts to kids and grandchildren. It won’t delve your $5.25 million lifetime exemption from gift and estate taxes.