What We Are Reading This Week - January 17, 2020

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1. Get Out of the Way, and Let Your Customers Pay

By Matt Pitts

We enjoyed this highly thought-out piece making a case for automated payments as opposed to manually collecting and storing your clients data. Here’s our favorite quote:

I was recently on a call for one of my businesses, with a salesperson from a company who acts as a 3rd party reputation or trust verification system. She asked what set my company apart from others in the same industry, and I highlighted the way we handle customer payment information. You see, most other businesses in that particular industry manually collect credit card numbers, and systematically run customer credit cards at a set interval. After explaining this to the sales rep and listening to her spiel, she asked for a credit card number over the phone! In fact, she indicated that was the only way to complete the transaction. In that moment I felt like Gordon Ramsey when he routinely bemoaned (with a British accent) “I could die on the back of that risotto!”

2. Top 27 Business Tax Saving Tips from the Pros

by Benilyn Formoso — Suralta for FitSmallBusiness

Taxes are an important aspect of running a business. You need to be aware which taxes to pay and when they are due. It can be overwhelming, but planning ahead can help you file on time and claim the right deductions. Here experts share the most effective business tax saving tips you can try.

Check out this article to find out about the top 27 tips to save on business taxes, straight from the pros.

Pro-tip: one of the tips is to stay updated on tax law changes. We have compiled a list of the most important changes that came into effect on Jan 1, 2020. See the tax changes that came into effect in 2020.

3. QBO Profit & Loss Report with Year-to-Date Comparison

by Contributing Author, Liz Scott for Insightful Accountant

Learn about Profit & Loss Report at a time when it’s especially relevant to your tax-filing process. 

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