Crystal Acorn

Crystal Acorn Bookkeeping Services:
Accounts Receivable
Accounts Payable
Financial Statements
Income Statement
Cash Flow
Balance Sheet
Quickbooks Setup & Support

⁣⁣You won’t need to file any extensions if you can’t file your taxes before April 15.⁣⁣The IRS just announced the tax fi...
03/20/2020

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You won’t need to file any extensions if you can’t file your taxes before April 15.⁣
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The IRS just announced the tax filing deadline has been moved to July 15 due to the COVID-19 pandemic. ⁣
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03/16/2020

Few updates as of today:⁣
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- More than 162,600 people infected and more than 5,800 deaths worldwide ⁣
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- 3,244 confirmed cases and 61 deaths in the US⁣
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- Bars, clubs and gyms to close in Los Angeles from tonight at midnight and until March 31⁣
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- Restaurants will remain open for takeouts and deliveries only⁣
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- All gathering of 50 and more people are cancelled and/or postponed for the next 8 weeks ⁣
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- Testing is free for all Americans ⁣
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- The Federal Reserve lowered interest rates to 0.25%⁣
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My heart goes to those who lost their loved ones because of this virus and I would like to thank all the medical staff around the world who risk their lives to heal those infected. ⁣
A lot of businesses are not doing well but hopefully the Federal Reserve is injecting more than $1.5 trillion into the banking system and loans are available at nearly 0%.⁣
We are going through some rough times but will overcome this pandemic and everything will go back to normal soon.
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⁣An individual is considered as an employee when the employer has control over him or her in the following areas: ⁣⁣* Wh...
03/13/2020

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An individual is considered as an employee when the employer has control over him or her in the following areas: ⁣
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* Who performs the work⁣
* How it will be done⁣
* What will be done⁣
* When it will be done⁣
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An independent contractor has control on the methods of the work that will be performed. ⁣
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Employees must fill out form W-4 on their first day of work and form W-2 must be filed to report their income. The employer is responsible for payroll taxes.⁣
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Independent contractors must fill out form W-9 before they get paid and form 1099-MISC must be filed to report their earnings (if at least $600 within the year). They are responsible to pay Social Security, Medicare income and self-employment taxes and that is why they must save between 20 to 30% every time the get paid. ⁣
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If you are unsure whether an individual is an employee or independent contractor, you can fill out form SS-8 and mail it out to the IRS. While waiting for the IRS decision, you must treat your worker as an employee. ⁣
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We are all equal. ⁣⁣•⁣•⁣•⁣•⁣⁣ ⁣⁣⁣
03/08/2020

We are all equal. ⁣
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⁣Success comes after hard work so never give up! ⁣⁣•⁣•⁣•⁣•⁣⁣ ⁣⁣⁣
03/05/2020

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Success comes after hard work so never give up! ⁣
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Starting a new business can be tough and risky. We all learn from our mistakes and failures and only the brave ones will...
03/01/2020

Starting a new business can be tough and risky. We all learn from our mistakes and failures and only the brave ones will try again to reach their goals and dreams. ⁣
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And remember, surround yourself with the right people to take care of your business (such as , , and ) and help you down the road (such as trustworthy and experienced employees, contractors and associates). ⁣
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02/26/2020

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⁣Cost of goods sold is an expense account that includes all the costs that were necessary to make your products or provi...
02/24/2020

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Cost of goods sold is an expense account that includes all the costs that were necessary to make your products or provide your services.⁣
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The mist commons are:⁣
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* Raw materials⁣
* Direct labor⁣
* Factory overhead⁣
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To calculate your cost of goods sold get your inventory at the beginning of the year, add all the additional inventories during the year and subtract your ending inventory. ⁣
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You know you’re running a prosperous business when your liabilities are less than your assets on your balance sheet. ⁣⁣B...
02/19/2020

You know you’re running a prosperous business when your liabilities are less than your assets on your balance sheet. ⁣
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But don’t get me wrong, liabilities are not bad. They help grow your business but try to not apply for loans or make extra purchases unless necessary.⁣
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“Asset”⁣⁣⁣⁣Even though you are making a payment, a prepaid expense is an asset account because your are making a payment...
02/15/2020

“Asset”⁣⁣
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Even though you are making a payment, a prepaid expense is an asset account because your are making a payment in advance. You will recognize the expense when it occurs. ⁣⁣
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For example, you pay your website fee annually. When you make the payment, you will record 1/12 of the payment as an expense for the first month and the rest of it goes to the “Prepaid Expense” account. ⁣⁣
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Then every month you must recognize the expense and decrease your prepaid expense account. ⁣⁣
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Isn’t it?⁣⁣ ⁣
02/12/2020

Isn’t it?⁣
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Promote your business at ease since your advertising costs are 💯% tax deductible! ⁣⁣Advertising helps your business thri...
02/12/2020

Promote your business at ease since your advertising costs are 💯% tax deductible! ⁣
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Advertising helps your business thrive and get more customers and sales. Your revenues will increase and in return you will either hire more employees, make more purchases and grow your business. ⁣
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Here are some examples:⁣
* Radio, Magazine, Newspaper and Social Media Ads⁣
* Website Setup, Design and Maintenance ⁣
* Graphic Designs ⁣
* Promotion Materials (business cards, flyers, brochures, postcards, signs, direct mail)⁣
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Remember to keep all your receipts!⁣
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Address

Santa Clarita, CA
91322

Opening Hours

Monday 10am - 6pm
Tuesday 10am - 6pm
Wednesday 10am - 6pm
Thursday 10am - 6pm
Friday 10am - 6pm
Saturday 10am - 6pm

Telephone

(818) 588-4446

Website

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