IRS

Want to Save Some Big Bucks?

On May 24th, 2013, posted in: Accounting, Breaking News by 0 Comment

Be aware that the Arizona TPT rate will change effective June 1, 2013. On May 31st the temporary tax passed by voters in 2010 will expire. The state rate for Transaction Privilege Tax (commonly called Sales Tax) will decrease to 5.6%. This will affect all retailers in Arizona. This will benefit all consumers in Arizona...

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Be A Survivor!

On April 24th, 2013, posted in: BIZ-TIP, Productivity by 0 Comment

Whew! Tax season is over for another year. As virtual accounting professionals we are finally getting some relief after 3+ months of working non-stop getting our clients ready for tax time and getting new clients up to speed. Does your business have a busy season? Many businesses have a season when they consistently work harder..

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Dealing with Deadlines

On April 17th, 2013, posted in: BIZ-TIP, Productivity by 0 Comment

Tell me how you deal with deadlines and that will tell me a lot about you. The deadline may be one you set yourself, one set by your clients or one set by a reporting agency. Meeting deadlines tells others: You’re organized and deal with priorities well You plan ahead and don’t wait until the..

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Are You Using the New Form I-9?

On April 5th, 2013, posted in: Accounting, Training by 1 Comment

The Form I-9 is verification of employment eligibility. US Citizenship and Immigration Services released a new version of this form on March 8, 2013. Here’s where you can download a copy of the form: http://www.uscis.gov/files/form/i-9.pdf. The old 8/7/09 version will be accepted only until May 7, 2013.  After that date employers who fail to use..

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It Could Happen To You…

On February 1st, 2013, posted in: Accounting by 0 Comment

Like it happened to Debbie… While trying to get a mortgage for her first home, Debbie found out that her credit was bad. So bad, in fact, that she couldn’t qualify for a mortgage! How could this be? She was a well-paid nurse who made a good salary and didn’t spend a lot. How could..

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Don’t Be in a Rush to File Your Tax Returns!

On January 18th, 2013, posted in: Accounting by 0 Comment

I’m amazed at how many of our virtual accounting clients are asking us to get everything to their CPA so they can file their tax returns right away! Hold on! Are you sure Congress is done passing laws that will impact last year’s tax returns? I’m not!  Historically Congress has passed laws after the first..

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Do You Track Your Mileage?

On January 4th, 2013, posted in: Accounting by 0 Comment

If you’re not tracking your business mileage, you’re missing a valid expense for your business. The IRS has announced that beginning on January 1, 2013, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 56.5 cents per mile for business miles driven 24 cents per mile driven..

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Do You Use Duplicate Checks?

On September 20th, 2012, posted in: Accounting, Security by 0 Comment

Several years ago I met with a contractor that needed his accounting processed for the prior year. He wanted us to set up QuickBooks for him and enter all the banking activity. Normally, no problem! This time, big problem! Like many people, he used duplicate checks. He figured that would work for him instead of..

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Take an Extra Day! Take 2!!

On April 12th, 2012, posted in: Accounting by 0 Comment

The deadline for filing income tax for individuals and partnership for 2012 is Tuesday, April 17th. April 15th is on a Sunday and April 16th is a holiday in Washington, DC. What this means is that all of us get two more days to get that important filing done. E-file for a faster refund and..

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Beware IRS Tax Filing Scams

On March 8th, 2012, posted in: Accounting, Security by 0 Comment

The IRS has released its annual ranking of tax scams that are perpetrated on an unsuspecting public. The IRS wants taxpayers to be aware of the scams that abound and they range from identity theft to tax return preparation fraud. IRS Commissioner Doug Shulman warns, “Scam artists will tempt people in-person, on-line and by e-mail..

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