IRS

Tax Deadlines are THAT Close!?

On February 2nd, 2012, posted in: Accounting by 0 Comment

Small business owners are faced with deadlines on a daily basis; whether its project deadlines for clients, follow-up calls for clients or filing deadlines for taxes, they are a necessary part of being an entrepreneur. While you want to pay attention to all deadlines, tax deadlines are ones you definitely want to meet. As virtual..

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2011 is Over! Have You “Closed” the Year?

On January 26th, 2012, posted in: Accounting by 0 Comment

January is a busy month for accounting services and the business owners that they serve. There are lots of deadlines: annual and 4th quarter payroll tax reports and 1099s by January 31st. Most CPAs want all the information for your business income tax returns at least 30 days before tax filing deadlines, so that means..

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Ready to Pay Your Income Taxes?

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

Fourth quarter 2011 estimated income taxes must be postmarked by January 17. Because of the 15th beginning on a Sunday and Martin Luther King Day on Monday, January 16th, you get a little bit of a free extension. Make sure that your payment is enough to assure that you are penalty-proof. Check with your CPA..

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Arizona New Minimum Wage

On December 29th, 2011, posted in: Accounting by 0 Comment

The minimum wage for Arizona employees increases to $7.65 effective January 1, 2012. This is an increase of .30 cents per hour. It is the result of a cost-of-living formula tied to consumer prices and inflation. Employers should be aware of this and discuss the changes with their Phoenix accountant.

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Do You Have All Your W9s?

On December 22nd, 2011, posted in: Accounting by 0 Comment

In January business all across America will be preparing Form 1099s to send to their vendors. To know which vendors to send 1099s to, they need to have a Form W9 from them first. The IRS released a new updated version of Form W9 in December 2011. Click here to download it.   Many business owners..

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Mileage Rates for 2012 Released

On December 15th, 2011, posted in: Accounting by 0 Comment

The IRS recently announced the standard mileage rates for 2012 (Notice 2012-1). Use the optional standard mileage rates to calculate the deductible costs of operating an automobile. Business use of an automobile remains at 55½ cents per mile. Even in our virtual accounting office, we still put miles on our vehicles traveling to meet with..

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Are You Using Your Arizona Income Tax Credits?

On December 9th, 2011, posted in: Accounting by 0 Comment

Did you know you can make a donation to a qualified charity rather than paying all of your state income taxes in Arizona? It’s true and under this provision, according to the Arizona Department of Revenue, residents can help those in need and it wouldn’t cost them a cent. The reason? The State of Arizona..

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Do You Need the Taxpayer Advocate?

On December 1st, 2011, posted in: Accounting by 0 Comment

Have you been trying to work out something with the IRS and they just don’t “get it”? They don’t understand what you are telling them? What tax statute you’re trying to use. When you’ve about come to the end of your rope, when repeated requests have been made but not complied with, when they tell..

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Year-end is Coming Fast: Are You Ready?

On November 17th, 2011, posted in: Accounting by 0 Comment

It’s hard to believe that there is only a little more than 6 weeks left in 2011, but it’s true. If you haven’t looked at how your business activities in 2011 will impact your income tax situation, now is the time. Since some tax strategies can only be implemented before year-end, November is the perfect..

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Hiring Consistently and Legally

On November 10th, 2011, posted in: Training by 0 Comment

Guest post by Ginny McMinn Most employers are very concerned about hiring properly as well as obtaining the very best employee for a job. In order to do a good job of hiring, it is important to remember that using the job requirements and consistency in the hiring process will not only yield the best..

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