Yield Bookkeeping Services, LLC

01/08/2021

Check out Yield Bookkeeping Services.

Please VOTE for Yield Bookkeeping Services in the 'Bookkeeper Service Company' category. Vote once per day for your favorites now through Friday, January 22, to determine the Top 5 in each.

Then, come back in March to vote to vote for the winners and finalists.

Spread the word to your friends, family and neighbors to show some love for local businesses when they need it most! (PS - This link goes directly to where you can vote for us, YIELD Bookkeeping Services!): https://northernvatimes.secondstreetapp.com/og/3a11462f-e7b9-45bf-bb7a-a075cf5b2713/gallery/266731447

Yield Bookkeeping Services is a woman owned, award winning bookkeeping firm that serves small businesses nationwide. We empower our clients with the financial knowledge they need to grow and succeed while saving them time and providing peace of mind. With our fully customizable services we can act a...

01/07/2021

The next round of PPP loans will soon be available. Here's what you need to know to apply

If you were rejected in the first round or didn’t receive funds, you have a chance to apply again for an initial PPP loan. This time, loans are capped at $2 million as opposed to $10 million previously, but businesses with up to 500 employees are still eligible.

Contact us to see how we can help: https://www.yieldbookkeeping.com/contact-us/

Read more: https://www.cnbc.com/2021/01/07/small-businesses-should-prepare-for-the-second-round-of-ppp-loans-.html

The latest coronavirus relief bill allocated $285 billion to another round of the Paycheck Protection Program. Here's how small businesses should prepare.

01/06/2021

Yield Bookkeeping Presents Small Business Owner's Roundtable

Our next roundtable on January 21 is all about the differences between hiring a 1099 independent contractor and a W2. Our speaker is Attorney Nancy Greene from ND Greene PC and she will be speaking on how small business owners can protect themselves and their organization from getting SUED.

Register via Eventbrite to join us and Nancy and network with fellow small business owners.

https://www.eventbrite.com/e/yield-bookkeeping-presents-small-business-owners-roundtable-tickets-129739104153

An event for Small Business Owners to network, engage in current issues affecting business owners and a chance to build their community.

01/05/2021

Congress recently passed a $900 billion COVID-19 relief bill, the Consolidated Appropriations Act, 2021, which included funds for another round of the Paycheck Protection Program (PPP). The new round of PPP is similar to the first round, but the bill includes some important differences. These new PPP loans will be available through March 31, 2021.

Contact us to see how we can help: https://www.yieldbookkeeping.com/contact-us/

Read more here: https://www.generalcounsellaw.com/paycheck-protection-program-round-2-business-eligibility/

12/31/2020

From all of us at Yield Bookkeeping Services, LLC, have a SAFE and HAPPY New Years Eve and an Amazing New Year!!!

12/23/2020

A big thank you to Tina and the Women's CEO Business School for sharing our 10 Steps to Better Bookkeeping!

Bookkeeping can seem a tedious task — something that keeps you from doing the real work at hand. But without bookkeeping you can’t have financial insight into your business and the peace of mind knowing how your business is doing. Bookkeeping can also help in other critical ways:

Find the 10 Steps here: https://www.yieldbookkeeping.com/2020/06/15/10-steps-to-better-bookkeeping/

12/22/2020

New Stimulus Bill Includes Second Round of PPP Loans for Small Business and Forgiveness Rule Changes Favorable to Borrowers

Congress at last passed a second stimulus bill this week — as of this writing, it is still awaiting President Trump's signature — and it includes a second round of PPP loans for affected small businesses as well as loan-forgiveness rule changes that are favorable to PPP borrowers. The second round of PPP loans for affected small businesses are referred to as “second draw loans.” While the rules for these second draw loans are familiar, they have changed drastically from the original program, so small businesses and lenders need to get up to speed quickly on who qualifies. In addition to providing a second draw of PPP loan funding for qualifying business, the legislation includes favorable changes to loan-forgiveness taxation and adds a simplified one-page forgiveness application for loans of $150,000 or less.

https://www.entrepreneur.com/article/362143

Congress finally passed further Covid relief, and it potentially bodes well for a range of small businesses.

12/21/2020

PPP Borrower Tax Relief Under Stimulus Bill – It’s Finally Happening

PPP loans under the new stimulus bill will NOT be included in Income and the expenses paid with the money WILL be deductible. HUGE change and so awesome for small businesses!

https://www.forbes.com/sites/alangassman/2020/12/19/ppp-borrower-tax-relief-under-stimulus-bill--lets-hope-it-happens/?sh=15fc8b5f8ee3

Little has been written about whether the new law will allow PPP borrowers to deduct the expenses that they paid to receive forgiveness, and many PPP borrowers will not survive if they have a big tax bill for 2020 that is technically due by estimated payment on or before December 31st, 2020.

12/18/2020

We made it to the end of 2020! If that isn’t a reason to celebrate, I don’t know what is. This year has been difficult in many ways. You’ve pivoted and became creative with your services and products this year and although it’s been a struggle, you did it! 2021 is right around the corner and it’s all due to your hard work and dedication! You should be very proud!

You know what year end means, don’t you? It means closing your books and getting ready for tax season. Typically, January is the busiest month of the year for Yield as we will be burning the midnight oil trying to close out the year and making sure everything is in order to start 2021 with a bang.

Please keep in mind that our due dates for December financials, 1099s and W2s is January 31, 2021. I understand that some of you want them earlier but to be fair to all of our clients we ask you to respect that deadline.

If you do need 1099s completed and it is not part of your original scope of work, please contact your account manager as soon as possible so we can start preparing for those. Please make sure that you have W9s for any contractors that you have worked with over the past year. This includes ANYONE who worked for you that is an individual or an LLC not filing as an S Corp who have been paid over $600 during the year and who isn’t on the payroll. These should be asked for every time you hire a new vendor. Yield can help gather them but it will save time if you have gotten them prior to January.

A few other tips to help with your tax burden, if you are a cash basis business, try thinking of anything you may need for your company and purchase it by December 31. The more expenses you can get into this year, the better off you will be at tax time. Similarly, if you can hold off invoicing customers until January 1 you can be sure that the Income for those won’t be recorded until 2021. If you were thinking of giving bonuses to your employees, make sure those bonuses are issued before December 31. Taking the time to prepare for taxes before the end of the year can save you money in the long run!

On behalf of everyone here at Yield Bookkeeping Services, THANK YOU for counting on Yield for your small business bookkeeping services. We love our clients and look forward to serving you for years to come.

Happy Holidays to you and yours and we wish everyone a HAPPY HEALTHY NEW YEAR!!!!!

- Rochelle Dallons, Owner and CEO of Yield Bookkeeping Services, LLC

View December's Newsletter: https://yieldbookkeepingservices.activehosted.com/index.php?action=social&chash=37693cfc748049e45d87b8c7d8b9aacd.27&s=andoZWRvbkBpbmZvcm1hdGlvbmV4cGVydHMuY29t

12/17/2020

Top 8 Year-End Tax Tips - TurboTax Tax Tips & Videos

Learn these top 8 year-end tax tips in order to maximize your tax refund or minimize the taxes you owe. Whether you are having a good year, rebounding from recent losses, or still struggling to get off the ground, you may be able to save a bundle on your taxes if you make the right moves before the end of the year.

https://turbotax.intuit.com/tax-tips/tax-planning-and-checklists/top-8-year-end-tax-tips/L5szeuFnE

Learn these top 8 year-end tax tips in order to maximize your tax refund or minimize the taxes you owe.

12/15/2020

Yield Bookkeeping Presents Small Business Owner's Roundtable

Our December roundtable event is THIS THURSDAY at 4PM! Join us to hear our featured speaker Robin Suomi from Startup to Growth explain the importance of positive thinking and providing motivational tips to 2021 with a bang ! Register via Eventbrite today: https://yieldbookkeepingdecemberroundtable.eventbrite.com

An event for Small Business Owners to network, engage in current issues affecting business owners and a chance to build their community.

12/10/2020

We love good reviews here at Yield Bookkeeping Services, LLC!! Let YIELD Bookkeeping be YOUR accounting department: https://www.yieldbookkeeping.com/

12/09/2020

New challenges for PPP borrowers - Austin Business Journal

The applications for forgiveness are now available through the banks and can be done any time - Yield Bookkeeping Services, LLC can HELP!! Contact us to find out how: https://www.yieldbookkeeping.com/contact-us/

Another thing to consider is the “expected” amount of forgiveness must be booked in 2020 whether or not you receive actual forgiveness as of 12/31/20. Which in essence means that we have to pay tax on it in 2021 no matter what!!!

https://www.bizjournals.com/austin/news/2020/12/09/new-challenges-for-ppp-borrowers.html

For small business owners who’ve leveraged the Paycheck Protection Program (PPP), new challenges are mounting. The U.S. Internal Revenue Service (IRS) and Small Business Administration (SBA) have recently announced or proposed new guidance related to taxes and, for loans of at least $2 million, fo...

12/08/2020

We are excited to announce our featured speaker for our December 17 Roundtable Event - Robin Suomi, MBA Founder, Startup to Growth. She will be leading the discussion on "Motivation and Mindset Mojo”. Join us and other business owners to get ready for a great 2021!

Please register via Eventbrite: https://yieldbookkeepingdecemberroundtable.eventbrite.com

#businesscommunity #smallbusinessowners #motivation #mindset #smallbusinessowner #smallbusiness #smallbusinessownersroundtable #roundtable #virtualevent

12/03/2020

What to Know for Year-End Reporting Compliance | Business

The year-end is coming, so employers and their bookkeeping teams put effort into the reporting. Some of the requirements have changed, so employers need to figure this out. The current situation imposed some changes, so 2020 has different requirements regarding the reporting. In this article, we share the most significant changes and updates.

Contact us to see how we can help! https://www.yieldbookkeeping.com/contact-us/

Read full article here: https://www.devdiscourse.com/article/business/1311518-what-to-know-for-year-end-reporting-compliance

Read more about What to Know for Year-End Reporting Compliance on Devdiscourse

12/01/2020

Yield Bookkeeping Presents Small Business Owner's Roundtable

Our Virtual Small Business Owners Roundtable monthly events are designed for the small business owner who is looking to connect with fellow owners and engage in discussions around challenges and successes.

Our December event will be discussing Mindset and Motivation and how they are important to master in order to grow as a small business owner. Join us on December 17 at 4Pm (EST) to learn how to prepare yourself for a successful 2021. Previous events have led to excellent discussions and networking opportunities.

If you are interested, please register for free via Eventbrite https://yieldbookkeepingdecemberroundtable.eventbrite.com and feel free to share the event with your network and other small business owners.

We look forward to connecting with you.

#smallbusiness #networking #businessnetworking #smallbusinessowners #networkingevent #networkingevents #smallbusinessownersroundtable #virtualevents

An event for Small Business Owners to network, engage in current issues affecting business owners and a chance to build their community.

11/28/2020

At Yield Bookkeeping Services, Small business is OUR business! Let’s all support them today and every day. They are the lifeblood of our communities and need our help to survive this year. #smallbusiness #shopsmall

11/25/2020

Thanksgiving is tomorrow, and Yield Bookkeeping Services, LLC would like to thank you as a client!! We are thankful for your continued patronage during this unprecedented year.

Yield will be closed on the following days in observance of the holiday:
- Thursday, November 26th
- Friday, November 27th

Our office will reopen on Monday, November 30!

Please be safe and enjoy your Thanksgiving!

11/20/2020

Yield Bookkeeping Presents Small Business Owner's Roundtable

Thank you for attending last night’s amazing virtual roundtable event. There were fantastic discussions and several actionable best practice tips! We will be holding monthly roundtables on the 3rd Thursday of the month exclusively for small business owners. Our next must attend event is Thursday, December 17 and registration is now open!

Eventbrite: https://yieldbookkeepingdecemberroundtable.eventbrite.com

An event for Small Business Owners to network, engage in current issues affecting business owners and a chance to build their community.

11/19/2020

There have been changes to the tax code this year, and they will be reflected on the Form 1040 of your tax return.

Each year, if necessary, the IRS releases drafts of the forms, so professionals may comment, and line numbers are subject to change. However, the advance notice is always appreciated and can give insights into what next year’s taxes will look like.

Here’s how tax-filing will look different in 2021 — when 2020 income taxes are filed — and what you can do to prepare.

https://wtop.com/news/2020/09/what-will-filing-taxes-be-like-in-2021-and-how-can-you-prepare/

Contact YIELD to learn how we can help your small business!!
https://www.yieldbookkeeping.com/contact-us/

11/18/2020

Yield Bookkeeping Presents Small Business Owner's Roundtable

Last chance to get registered for our Small Business Owners Roundtable tomorrow Thursday, November 19 at 4PM. We will be discussing the top challenges small business owners face while networking with our peers. Register via eventbrite for free: https://yieldbookkeepingsmallbusinessownersnovroundtable.eventbrite.com

An event for Small Business Owners to network, engage in current issues affecting business owners and a chance to build their community.

11/17/2020

For Small-Business Owners, a Shifting Landscape of Resources

Small businesses across the country have been pounded by the pandemic. Entrepreneurs have been forced to make drastic cuts and pivot to new business models to keep going. Financial aid, though, is what has kept the lights on.

But today, many sources, including private foundations and the federal government, that once offered loans and grants have either closed their financial aid programs or put them on hold.

https://www.nytimes.com/2020/11/16/business/smallbusiness/small-business-loans-assistance-resources.html

Contact YIELD today to see how we can help! https://yieldinf.mdsdevstaging.com/contact-us/

With the end of the Paycheck Protection Program loan program, entrepreneurs are forced to look elsewhere.

11/16/2020

Yield Bookkeeping Presents Small Business Owner's Roundtable

Join us for our Small Business Owners Roundtable this Thursday, November 19 at 4PM. We will be discussing the top challenges small business owners face while networking with our peers. Register via eventbrite for free: https://yieldbookkeepingsmallbusinessownersnovroundtable.eventbrite.com

An event for Small Business Owners to network, engage in current issues affecting business owners and a chance to build their community.

11/16/2020

Thank You Loudoun County!

Thanks Loudoun County for naming us a finalist for the Small business awards for the second time!

11/12/2020

Do you own a Virginia small business? This certification could benefit your bottom line

If you own a small business, or are a woman or minority business owner, a webinar on November 20 could help put your business in the black.

https://www.progress-index.com/story/business/2020/11/11/vpa-host-webinar-how-certification-can-help-small-business/6251734002/

SWaM certification can help small and women or minority-owned business make sales to the Commonwealth of Virginia.

11/10/2020

More flexibility for taxpayers with tax debts amid coronavirus

The Internal Revenue Service is making some changes in its collection program to lessen the burden on taxpayers who owe outstanding tax debts and are trying to cope with the economic fallout of the COVID-19 pandemic.

The IRS said Monday that it’s making it easier to set up payment agreements and offers in compromise as part of a new Taxpayer Relief Initiative.

Read the full article here https://www.accountingtoday.com/news/irs-offers-more-flexibility-to-taxpayers-with-tax-debts-amid-coronavirus

Then contact us https://www.yieldbookkeeping.com/contact-us/ to see how we can help!

The IRS is making some changes in its collection program to lessen the burden on taxpayers with outstanding tax debts who are trying to cope with the economic fallout of the COVID-19 pandemic.