Rental Income New Service Item New Income Account
Sage 50cloud Accounting 2020
https://accountinginstruction.thinkific.com/
...
https://www.youtube.com/watch?v=U1YLo_jQ2VA
Welcome to our channel! In this video, we dive deep into the essentials of the cash budget process and master budgets. Learn how to effectively plan and manage your finances with detailed insights into creating a comprehensive cash budget. We'll cover:
The importance of cash budgets in financial planning.
Step-by-step guidance on preparing a cash budget.
Understanding the components of a master budget.
Tips for integrating cash budgets into your overall financial strategy.
Whether you're a business owner, financial planner, or just looking to improve your budgeting skills, this video is packed with valuable information to help you succeed. Don't forget to like, subscribe, and hit the notification bell for more financial tips and tutorials!
#CashBudget #MasterBudget #FinancialPlanning #BudgetingTips #BusinessFinance
...
https://www.youtube.com/watch?v=GR62Z5_9fMM
IRS warning Scammers work year-round; stay vigilant
https://www.irs.gov/newsroom/irs-warning-scammers-work-year-round-stay-vigilant
https://accountinginstruction.info/
As the new year begins, the Internal Revenue Service reminds taxpayers to protect their personal and financial information throughout the year and watch out for IRS impersonation scams, along with other schemes, that try to trick people out of their hard-earned money.
These schemes can involve text message scams, e-mail schemes and phone scams. This tax season, the IRS also warns people to watch out for signs of potential unemployment fraud.
"With filing season underway, this is a prime period for identity thieves to hit people with realistic-looking emails and texts about their tax returns and refunds," said IRS Commissioner Chuck Rettig. "Watching out for these common scams can keep people from becoming victims of identity theft and protect their sensitive personal information that can be used to file tax returns and steal refunds."
The IRS, state tax agencies and the nation's tax industry – working together in the Security Summit initiative – have taken numerous steps since 2015 to protect taxpayers, businesses and the tax system from identity thieves. Summit partners continue to warn people to watch out for common scams and schemes this tax season.
Text message scams
Last year, there was an uptick in text messages that impersonated the IRS. These scams are sent to taxpayers' smartphones and have referenced COVID-19 and/or "stimulus payments." These messages often contain bogus links claiming to be IRS websites or other online tools. Other than IRS Secure Access, the IRS does not use text messages to discuss personal tax issues, such as those involving bills or refunds. The IRS also will not send taxpayers messages via social media platforms.
If a taxpayer receives an unsolicited SMS/text that appears to be from either the IRS or a program closely linked to the IRS, the taxpayer should take a screenshot of the text message and include the screenshot in an email to phishing@irs.gov with the following information:
Date/time/time zone they received the text message
Phone number that received the text message
The IRS reminds everyone NOT to click links or open attachments in unsolicited, suspicious or unexpected text messages – whether from the IRS, state tax agencies or others in the tax community.
Unemployment fraud
As a new tax season begins, the IRS reminds workers to watch out for claims of unemployment or other benefit payments for which they never applied. States have experienced a surge in fraudulent unemployment claims filed by organized crime rings using stolen identities. Criminals are using these stolen identities to fraudulently collect benefits.
Because unemp
...
https://www.youtube.com/watch?v=vbEva1F_Pos
Multiple Currencies Foreign Currency Transfer
Resource including multiple language text & audio: https://1drv.ms/u/s!Ap8mLpFX7uo9gclOnzJIpnWskVPH9w?e=fCCh8v
Google Classroom: https://classroom.google.com/c/MjIzMjk5NjM3MzYz?cjc=fyhjvio
Class code: fyhjvio
Playlist: https://www.youtube.com/playlist?list=PL60SIT917rv5pnA673_Xz2jcVY8PW3FUy
QuickBooks Online 2021
...
https://www.youtube.com/watch?v=IJRZo5XiL8I
IRS suspends requirement to repay excess advance payments of the 2020 Premium Tax Credit; those claiming net Premium Tax Credit must file Form 8962
https://www.irs.gov/newsroom/irs-suspends-requirement-to-repay-excess-advance-payments-of-the-2020-premium-tax-credit-those-claiming-net-premium-tax-credit-must-file-form-8962
https://accountinginstruction.info/
WASHINGTON — The American Rescue Plan Act of 2021 suspends the requirement that taxpayers increase their tax liability by all or a portion of their excess advance payments of the Premium Tax Credit (excess APTC) for tax year 2020. A taxpayer's excess APTC is the amount by which the taxpayer's advance payments of the Premium Tax Credit (APTC) exceed his or her Premium Tax Credit (PTC).
The Internal Revenue Service announced today that taxpayers with excess APTC for 2020 are not required to file Form 8962, Premium Tax Credit, or report an excess advance Premium Tax Credit repayment on their 2020 Form 1040 or Form 1040-SR, Schedule 2, Line 2, when they file.
Eligible taxpayers may claim a PTC for health insurance coverage in a qualified health plan purchased through a Health Insurance Marketplace. Taxpayers use Form 8962, Premium Tax Credit to figure the amount of their PTC and reconcile it with their APTC. This computation lets taxpayers know whether they must increase their tax liability by all or a portion of their excess APTC, called an excess advance Premium Tax Credit repayment, or may claim a net PTC.
Taxpayers can check with their tax professional or use tax software to figure the amount of allowable PTC and reconcile it with APTC received using the information from Form 1095-A, Health Insurance Marketplace Statement.
The process remains unchanged for taxpayers claiming a net PTC for 2020. They must file Form 8962 when they file their 2020 tax return. See the Instructions for Form 8962 for more information. Taxpayers claiming a net PTC should respond to an IRS notice asking for more information to finish processing their tax return.
Taxpayers who have already filed their 2020 tax return and who have excess APTC for 2020 do not need to file an amended tax return or contact the IRS. The IRS will reduce the excess APTC repayment amount to zero with no further action needed by the taxpayer. The IRS will reimburse people who have already repaid any excess advance Premium Tax Credit on their 2020 tax return. Taxpayers who received a letter about a missing Form 8962 should disregard the letter if they have excess APTC for 2020. The IRS will process tax returns without Form 8962 for tax year 2020 by reducing the excess advance premium tax credit repayment amount to zero.
Again, IRS is taking steps to reimburse people who filed Form 8962, reported, and paid an excess advance Premium Tax Credit
...
https://www.youtube.com/watch?v=IAmwWjBmI3A
Short Answer Excel Questions Using Excel - Subsidiary ledgers Part 1
Google Classroom: https://classroom.google.com/c/MjE0MzE1ODA2OTE5?cjc=ehrsfll
Class code: ehrsfll
Reference multiple language audio and text: https://1drv.ms/u/s!Ap8mLpFX7uo9rBQkoDugXNzS2JI6?e=phOM2f
Financial Accounting Playlists: https://www.youtube.com/c/AccountingInstructionHelpHowToBobSteele/playlists?view=50&sort=dd&shelf_id=2
https://accountinginstruction.info/
Subsidiary Ledgers
...
https://www.youtube.com/watch?v=QApcoYXKl8s