What Are Deductions
What Are Deductions Many times, when we read about deductions for a home business or a freelancer, we feel like we are reading directions to connect a dishwasher to our washing machine but with three different language translations. When an LLC chooses to file as a C corp or even an S corp, the directions […]
Financial Accounting Services
Financial Accounting Services Accounting Services are focused on the daily, monthly and quarterly accounting cycles. ABS-Carolinas are offering the following tasks: Customer invoicing, accounts receivable management as well as retail point of sale integration of data Accounts Payable and vendor account relationships Banking and credit card account management with daily and monthly entries & reconciliations […]
Bookkeeping
Bookkeeping Bookkeeping is a must in any business; and no matter what size business you own and operate, it is important to recognize the best practices that will keep you running smoothly along the way. Record keeping to financial analysis will not only keep your day to day expenses under control but will help you […]
Service Locations
Service Locations We have expanded our Accounting Services areas! Now includes both North and South Carolina. The following are the areas we service. Call or Email to get your find out how we can help you! In South Carolina Myrtle Beach Conway through out the Grand Strand area including: North Myrtle Beach Little River Surfside Garden City Murrells […]
Why Choose Us
ABS Carolinas LLC QuickBooks Experts What sets ABS-Carolinas apart is the level of expertise and knowledge in both QuickBooks and accounting. Florrie graduated from the University of South Carolina, Coastal Carolina College in 1983 with Honors from the Wall School of Business Administration. Since then she’s worked as an accounting executive in the health care […]
Accounting Principles
Accounting Principles Accounting follows a certain framework of core principles called accounting principles, which makes the information generated through an accounting system valuable. Without these core principles accounting would be irrelevant and unreliable. These principals include: Accrual Concept Going Concern Concept Business Entity Concept Monetary Unit Assumption Time Period Principle Revenue Recognition Principle Full Disclosure […]
Uncashed PayChecks
Uncashed Paychecks Uncashed paychecks can be tricky and a source of tedious work. You can’t just void them and forget about it. Same is true for other company written checks such as employee commissions, accounts payable, dividends, vendor payments, refunds and travel expenses. The amount of net pay continues as a company liability indefinitely. You […]
Depreciation Deduction
Depreciation Deduction Guest post by Accounting Today*: Business taxpayers who placed qualifying property in service during 2017 but haven’t claimed the new 100-percent depreciation deduction are running out of time to file the election with the IRS. Individuals and calendar-year corporations must generally file the election with the IRS by Oct. 15.The deduction, created by the […]
Wayfair Tax Case
Wayfair Tax Case On June 21, 2018, the U.S. Supreme Court overturned, Wayfair Tax Case by a 5-4 majority, that states could charge tax for out-of-state purchases in the South Dakota v. Wayfair case. This overturned 51 years of authority that had restricted states from imposing their sales tax obligations on out-of-state retailers who did not […]
Identity Theft, Hackers, & Fraudulent Returns…
Identity Theft, Hackers, & Fraudulent Returns… Have you even been a victim of identity theft? Or maybe hackers got into your system, phone, or tablet? What about a fraudulent tax return filed in your name, or worse, a clients? Data breech is an ugly monster that hides around any corner these days. From someone scanning […]