This is the Blog of Hector Garcia, QuickBooks ProAdvisor and Trainer in South Florida.  Content topics found here will be mostly QuickBooks functions, tips and tricks on how to learn QuickBooks and use it better, accounting related material, and Tax tips.
You may contact us at info@quickbooks-training.net if you have any other ideas or comments on postings to this blog.

FIRPTA Withholding rules for Real Estate sales with an LLC with a foreign owner(s)

A few definitions first: FIRPTA: IRS rules that require the seller of real property (via the title company) to withhold 15% of the gross sales amount and remit it to the IRS within 20 days of closing LLC: Limited Liability Company based in any of the 50 States of U.S.A. Non-Resident Aliens (NRA): an individual […]

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Operating Agreement for a LLC (Limited Liability Company)

As an accounting firm, we try to shy away from giving any sort of legal advice which includes (but not limited to) advising our customers on creating their operating agreement.  Generally speaking, all LLC’s should have one regardless of the number of owners (and wether they are family members or not); but it is specially […]

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Itemized vs. Standard Deductions for Individual Income Taxes

Video Table of Contents with time stamps: Itemized Deductions (Form 1040 – Schedule A): 02:36 Medical Expenses above 7.5% of your income 03:44 State and Local / Property Taxes you paid (up to $10,000) 04:52 Interest Expense (Mortgage Interest from max $750k indebtedness) and Investment Interest 05:55 Charitable Donations up to 50% of your income […]

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How much would you charge to prepare my books for 2018?

This is a very common question we get from leads calling our office requesting us to prepare the bookkeeping, accounting, and/or tax returns for 2018, these are the documents we need in order to provide a quote: All 2018 bank statements in PDF downloaded from the bank for the business AND if possible a Excel […]

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“My QuickBooks is not correct, how can you help me?”

This is one of the most common questions I get via email EVERY DAY, and the most common answers is: YES, We provide training and support to guide YOU through the process of fixing it all for a flat fee of $425 per session (it lasts about 2 hours) and we guide you through the process, […]

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Which expenses are deductible in my personal tax return? (2019)

Updated Feb 13th, 2019 Which expenses are deductible and/or gets a tax credit in my personal tax return? This is NOT tax advice! please refer to your CPA/EA for a specific list that pertains to you, based on overall income tax brackets and deductibility Foreign Income Exclusions: due to tax treaty or bona fide residence […]

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What expenses are tax deductible from business income? (2019)

Wether you have a LLC/Corporation or receive business income personally via form 1099-Misc… The answer I give to all my clients is: “Any expense that is necessary, ordinary, reasonable, documented, and legal may be deductible…” Ordinary: means it is commonly accepted in the industry and seen often with other businesses in the same trade Necessary: means the expense was […]

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Renting a US property from a non-resident? You may need to withhold 30%!

If you rent a real estate property from a foreign (non-resident owner), you may need to withhold 30% of the rental payment!  We can look at your case if you call our office 954-414-1524.. But meanwhile, this is a goof article from Tax Samaritan   Form 1042-S – US Source Income Subject To US Income […]

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IRS Tax Return or Account History Transcripts – How to get them

This is a very common question we get as tax preparers! First thing to try would be Get Transcript Online system from the IRS – in my experience there is a 50/50 chance you could get them online. If you’re unable to login, you may order a tax return transcript or account transcript using Get Transcript by Mail request or calling 1-800-908-9946. I could […]

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My Favorite Books for all Business Owners and/or Accounting Professionals

On Positioning, Marketing, and Branding Positioning for Professionals by Tim Williams Win Without Pitching Manifesto by Blair Enns 1-Page Marketing Plan by Allan Dib Building a StoryBrand by Donald Miller Primal Branding by Patrick Hanlon   On Pricing & Profitability Implementing Value Pricing by Ron Baker Profits Beyond Measure by Thomas Johnson Value-Based Fees by […]

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QuickBooks Online 2019 – Complete Tutorial Videos (100+)

Here is the 100+ QuickBooks Online Tutorial Videos from Intuit.  If you cannot find the answer you need, call us 954-414-1524 to setup a paid private training (Starting at $250) or a support plan for $99/month! SETUP A FREE TRIAL QUICKBOOKS ONLINE ACCOUNT (WITH 50% OFF AFTER 30 DAY TRIAL)   Hector GarciaMore Posts Follow […]

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QuickBooks & Bookkeeping Support Subscription Plan (QBSSP)

If you want an active QuickBooks-related and Bookkeeping/Accounting Support plan via e-mail or private remote-access training from one of our team members, this is the plan for you! The cost is $99 per month and it comes with the following: Unlimited Access to all of my courses in my Teachable Page.  It is a $1,000 worth of courses […]

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This QuickBooks Blog is updated every other day!

For More Information

Call us to 954-633-2718 or email: hector@quickbooks-training.net