IRS

September 15th is Coming Soon!

On September 8th, 2011, posted in: Accounting by 0 Comment

Just a reminder from your Phoenix accountants that this is a deadline day in the accounting arena: Extensions for all business tax returns with a fiscal year end of 12/31 are due. Estimated personal income tax payments for 3rd quarter are due.

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There’s Good News and Bad News for Employers

On July 21st, 2011, posted in: Accounting by 0 Comment

There are two changes to payroll taxes that were announced this month. Congress dropped the .2% federal unemployment tax (FUTA) surcharge reducing the rate from 6.2% to 6% effective July 1, 2011. Employers still receive the 5.4% credit for paying state unemployment taxes (SUTA) on time, reducing the FUTA rate to .6%.

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Who’s Watching Your Back?

On July 19th, 2011, posted in: E-News by 0 Comment

If you aren't watchful, you might miss them. That's where your trusted advisors come in. This month we are advising our clients (and you!) about 3 changes that will impact their businesses through the end of 2011. See the articles that follow for the good news and bad news for business owners.

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Are You Getting All The Deductions You Are Entitled To?

On July 14th, 2011, posted in: Accounting, BIZ-TIP by 0 Comment

To qualify for the business mileage reimbursement, you need to diligently track the miles driven. To properly do this, at the beginning of your fiscal year write down your odometer reading. Throughout the course of the year, every time you drive for business purposes you should write down your beginning and ending mileage, the date of the travel, your destination and the purpose of the travel, i.e. client visit, sales call, seminar attendance, etc.

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Is Your Company an S Corp?

On February 3rd, 2011, posted in: Uncategorized by 0 Comment

Many small businesses are single entity S Corporations. Because owners think that “it’s my business, so I can do what I want,” they sometimes make mistakes that can create problems for them with the IRS. When we see this happen, we advise them that they need to think of their business as totally separate from..

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1099 Rules Change on January 1, 2011

On December 30th, 2010, posted in: E-News by 0 Comment

In January 2011, the rules change significantly. In January 2012 you will need to send a Form 1099 to any vendor, regardless of their business entity, that you pay $600 or more to for services and goods in 2011. This is a major change in reporting that will require most small businesses to send out..

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