Sheila's Bookkeeping

Sheila's Independent Bookkeeping Inc

"I know it sounds strange, and you might be sitting at your computer thinking I am really unusual, but it's true: I love bookkeeping!"

23632 Hwy 99, Suite F-346
Edmonds, WA 98026
Phone: 206.909.4050
Fax: 425.670.6516

At Sheila's we hold true the belief that bookkeeping can be fun, but this does not mean that we do not take bookkeeping seriously. This page will feature a rotating gallery of bookkeeping tips that we are offering free of charge. Why, you might ask? Well, first of all we are just plain nice people. But, also, we want to prove to you that we possess the skills and the knowledge to make your bookkeeping a painless experience. If you find these tips helpful, just consider how much more helpful we could be as your bookkeeper.

Did you know that the
Taxpayer Relief Act of 1997 provides for the following benefits.
Child Care Tax Credit - Provides taxpayers with a credit for each qualifying child under 17 years of age. Beginning in 1998, taxpayers can claim a maximum credit of $400 per child.
The Hope Scholarship Credit allows taxpayers to claim a credit of up to $1500 for post-secondary education at an eligible institution for the taxpayer, spouse, or dependent child enrolled on at least a half-time basis.
The Lifetime Learning Credit provides for a maximum credit equal to 20% of up to $5000 of expenses for qualified tuition and fees for post-secondary education to acquire or improve job skills.
• A new way to fund education called an
Educational Retirement Account for expenses such as tuition, fees, books, supplies and equipment, and room and board.
Lower capital gains rates.
Exclusion of capital gains up to $250,000 ($500,000 for married couples filing jointly) on the sale or exchange of a principal residence occurring after May 6, 1997 EACH TIME a taxpayer sells or exchanges a principal residence (but not more frequently than once every two years).

The Unified Estate and Gift Tax Credit will increase annually beginning in 1998 until the maximum value of estates exempt from tax reaches $1 million in 2006.