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Bookkeepers and Tax pros will be safe in the future if they understand blockchain technology. If not they will be in the unemployment line.

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Blockchain technology is like when the internet came on the scene, people were like do we need it? 

Blockchain technology is the new internet that's here, but the people don't comprehend it yet. 

Blockchain technology is responsible for the rise of bitcoin and crypto currency.  Read more below

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Bookkeeping & Taxes

Now and in the future, security, trust, value and privacy will be the business owners top priority.

It's a brand new world out here and if you're in finance you're in a good place if you begin to understand blockchain technology.

Will you be ready?

Don't worry bookkeepers and tax pros your day job will be safe in the future due to blockchain technology.  

But only if you start to understand now what it is.

In the simplest terms, the essence of blockchain technology is the old school record-keeping ledger format.

In the old days before the computer, each business transaction was recorded in a ledger. If there was a correction you would be able to see the ink or pencil erasure.

If someone were to tamper with the ledger on one date they would have to update all the information on all the dates thereafter.

That's blockchain. A ledger of transactions that cannot be changed. Thus finance is one of the industries that will benefit from blockchain technology.

It's still early in the day for businesses to understand, however those that start now to educate themselves will have the trust of consumers in the future.

Stay tuned in for more information to come.

-Steph

Blockchain Technology may be the answer to saving bookkeepers and tax pros.

We would like to think that the bookkeeper is the good guy/gal, but there are definitely bad seeds.

So how can a bookkeeper steal from you?

1. Payroll - I have a client right now where the previous bookkeeper who averaged about 35 hours per week would pay herself for 40 hours per week and 10-15 hours over time!

The company didn't catch her for years. She earned $25 per hour but grossed $70k. So make sure you look at every payroll report especially the hours.

2. 401k - If your company has a 401k the bookkeeper can pay themselves more and then pull the cash out of their account and not give a damn about paying a distribution fee.

Again look at your monthly statements or account weekly. Or better yet do not give them the password.

Bookkeepers if you want to increase your income you must add business or personal tax preparation to your skill set.

If you don't prepare taxes you are leaving money on the table.

At this time you do not need a degree to prepare taxes. You can literally prepare family and friends taxes right now.

If you want to take it to to the next level you need to take a 60 hours tax course that that will enable you to prepare taxes and charge legitimately.

Some bookkeepers are very sneaky!

3. Pay their own bills - Oh yeah this is a good one. When some bookkeepers pay your bills they pay theirs too.

They will pay their cable and utility bills, they will pay their cell phones, they will create an invoice and you pay it unknowing it's the bookkeepers brother you made the check out to.

Some bookkeepers are sharp and will pay their car notes, insurance and the main thing they will pay is Amazon especially if you use it for company expenses.

You must look at your bank and credit card statements. If you fail to do this you are to blame. 

Some bookkeepers pray that you don't look at the statements and will keep you side tracked with some other drama so you won't remember.

4. Co-sign for a car loan - Yes some bookkeepers will use your company to co-sign on a loan and you will never know.

The only thing you can do is put a credit freeze on all of the credit agencies. Make sure the bookkeeper does not have the password.

5. Get a credit card - Some bookkeepers will add themselves to your credit card or get one with your company info.

Again either make sure they don't have your passwords and look at your statements monthly and spot checks during the month.

While most bookkeepers are truly honest there are definitely some bad seeds out there.

How do I know? Let's just say I know....

Watch your accounts and you won't get taken for a ride into fraud hell.

-Steph

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Yes! The annual membership includes all webinar replays.

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You can cancel anytime and still keep the subscription until your monthly term ends.

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Membership Frequently Asked Questions

The Future of Finance Will Be Part of the Blockchain Evolution5 Tips How to Keep Your Bookkeeper From Stealing Your MoneyBookkeepers Step Up Your Game! Learn How To Prepare Business TaxesBusiness Owners Can Still Receive Unemployment thru 12/26/20

If you are getting business unemployment good for you!

Business owners normally don't get this opportunity so I'm glad you took advantage.

If you are still receiving unemployment you might as well have them take out the 10% Federal taxes, because if you do your taxes right you'll get it back.

Take the online or off lne course it's a breeze.

Make sure they take out the 10% Federal tax.

September 2020

FLAT RATE

The Pandemic Unemployment Assistance program is still taking claims.

If you haven't applied for unemployment as a business owner, you still can. It's a 46 week program that started February 2, 2020 and was extended thru December 26, 2020.

You will get an extra $600 per week from March 15th thru July 15th. Yes you can get back pay!

So if you're a business owner that has no employees or didn't earn any money please don't let pride get in your way and get your unemployment.

Even if you did earn some money you can still qualify just do it!

You'll get a Bank of America debit card (they partnered with EDD years ago) so you won't get a check.

Nor do you need a bank account.

If you filed your 2019 taxes you will be in a better place to get approved. If you haven't filed your 2019 taxes hurry up so you can paid!

-Steph

5 Reasons Why You Should Use Paypal Businesscard For All Your Online/Offline Transactions

1. Paypal has longevity - They've been around 20 years and they don't give you any grief about any transaction.

2. Cashback bonuses - Most credit cards have some type of cash back bonus but Paypal is the best. Below I received 18.87 for August.

Way more than traditional bank interest. All I have to do is use my secure debit card.

3. Payment comes later - Paypal is great for rental cars, flights anything as you don't get billed right away.

I could rent a car and take a trip to Africa and be back before the charge hits my bank account. I love this feature!

4. Loan- I've already gotten three loans with Paypal. No credit check needed you just need to have at least 15k in sales per year to qualify! This has been a life saver for our business!

5. No worries about your personal info being on-line - Paypal only needs your social security number or EIN for any business.

Once you are setup, use this card for all your transactions and be protected, pay later and no worries about fraud.

-Steph

Next Month - 5 Ways To Find A Good Bookkeeper

It's a breeze to pass the course.

Either way it's a great skill to add to your tool box.

We use Golden State Tax Traning. The website has smooth navigation and no trick questions!

Price is good too!

-Steph

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