Click the title below to read a informative blog posting by Encyro regarding the lack of safety in emailing your financial information to your bookkeeper or financial professional. 

​Why is Email Not Secure?

Best thing I can say is "Never email your financial data to anyone!" If someone is asking you for financial data (account numbers, social security numbers, or other personal information) via email, it is most likely a scam. If you choose to send financial data via email, it is at your own risk of the data being stolen and sold on the dark web. 

If you are a nonprofit looking for bookkeeping that makes your IRS 990 or IRS 1120 prep easier or a small business looking for bookkeeping services that make your tax prep easier, contact me! cmweaver [at] cwbookkeepingservice [dot] com or 865-951-7407. 

So have you collected the right justification for all those travel or meals and entertainment receipts?

Many court cases are showing how a new IRS approach is denying otherwise well-documented tax deductions. One attorney deducted travel on his IRS Schedule C, provided amounts, times, places, mileage, parking, locations of meetings; submitted receipts, bank statements, and a copy of a calendar that included names, times, and locations. But, under IRC §274, Disallowance of certain entertainment, etc., expenses, this was not quite enough. ​The court ruled that the documentation was not sufficient for it to determine the business purpose of the travel or even if there was a business purpose. ​

Read on to find out what the court really wanted to see as justification of those travel expenses, and for a quick checklist to use before sending receipts to your bookkeeper. 

Do you feel lost in the sea of financial terms or business lingo? Have you taken the time to learn your own business books, before turning them over to a bookkeeping service? Read on for some basics that every business owner should know.