QuickBooks Pro Desktop 2019 tracks more of our year-end tax needs in one QuickBooks file by using tax tracking methods
β±οΈ Length: 4.8 total hours
β 4.29/5 rating
π₯ 22,168 students
π October 2019 update
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- Course Overview
- This course equips small business owners, freelancers, and sole proprietors with unique strategies for managing personal tax items directly within their QuickBooks Desktop Pro 2019 file. Learn to proactively distinguish and track personal taxable activities, transforming year-end tax preparation into an efficient, stress-free process.
- Discover how to leverage specific, often underutilized, QuickBooks functionalities to accurately categorize personal tax-related financial activities. This minimizes errors and significantly reduces the manual effort typically spent separating these items for individual tax returns.
- Gain profound insight into the financial interplay between your business’s performance and your personal tax landscape. Through practical, hands-on methods, you’ll make more intelligent financial decisions year-round and establish robust, foundational tax tracking discipline.
- Requirements / Prerequisites
- A foundational understanding of basic bookkeeping and familiarity with QuickBooks Desktop Pro 2019 is recommended. This course focuses on advanced feature application, not an introductory tutorial.
- Access to QuickBooks Desktop Pro 2019 (or compatible version) is essential for hands-on practice. Active engagement with your own company file will maximize learning and immediate implementation.
- Ideal for sole proprietors, independent contractors, and small business owners seeking to streamline combined personal and business financial tracking for tax reporting efficiency. A proactive desire for improved financial organization is key.
- Skills Covered / Tools Used
- Master advanced data organization in QuickBooks Desktop Pro to effectively segregate personal financial impacts from business operations. Ensure accurate Profit & Loss statements while strategically preparing for personal tax considerations.
- Develop expert proficiency in generating highly customized financial reports specifically for personal tax preparation. Extract precise data on personal drawings, owner investments, and non-business financial movements with tax implications directly from QuickBooks.
- Acquire skills in utilizing QuickBooks’ structural tools to enhance financial transparency. Understand how strategic data input prevents complications, building a robust, accountable system for both business and personal tax reporting.
- Master intelligently tagging and categorizing transactions using specialized QuickBooks features. This enables precise isolation of personal expenditures or income streams, creating an integrated financial picture that meets both business and personal tax reporting requirements.
- Benefits / Outcomes
- Experience a substantial reduction in time and mental effort for year-end tax preparation. Your QuickBooks file will be optimally prepared to provide most personal tax information with minimal manipulation, facilitating confident and efficient tax filing.
- Achieve unparalleled clarity on the financial interaction between your business’s profitability and your personal taxable income. This understanding empowers strategic financial decisions and ensures highly accurate reporting, significantly reducing potential audit risks.
- Cultivate a proactive, systematic approach to financial record-keeping, moving from reactive scrambling to strategic tax planning. Foster superior forecasting and gain greater control over your financial destiny, both personally and professionally.
- Significantly boost confidence in managing combined financial data within QuickBooks Desktop Pro. The ability to effectively separate and track personal tax items alleviates much guesswork and anxiety, providing invaluable peace of mind.
- Optimize your QuickBooks Desktop Pro investment by transforming it into a sophisticated financial management and tax tracking powerhouse. Unlock its full potential to expertly serve your specific needs as a small business owner, enhancing overall financial acumen.
- PROS
- Empowering Control: Gain tangible techniques for greater control over combined personal and business financial data within one software platform.
- Immediate Applicability: Strategies are designed for direct, seamless implementation into existing QuickBooks files, offering instant, measurable value.
- Time & Stress Reduction: Drastically cuts down the significant effort and anxiety involved in accurately separating financial information for tax season.
- Enhanced Accuracy: Ensures more reliable, precise, and auditable financial reporting for both core business operations and personal tax obligations.
- Cost-Effective Solution: Provides an efficient, internal methodology for personal tax tracking, potentially reducing the reliance on external bookkeeping services.
- CONS
- Not a Tax Advisor: This course focuses solely on practical tracking methods within QuickBooks and does not substitute for professional tax advice or a CPA for complex tax situations or legal compliance.
Learning Tracks: English,Finance & Accounting,Taxes
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