taxes

Packing For 2016

On December 30th, 2015, posted in: Accounting, BIZ-TIP by 0 Comment

The winter holidays are always a time of reflection. As this year ends and we move into a new year, decide what you will take with you and what you will leave behind. Take memories; leave regrets. Take lessons; leave pain. Take wisdom; leave failure. Take forgiveness; leave guilt. Take compassion; leave judgment. Take faith;..

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Is It Finished?

On February 11th, 2014, posted in: Accounting, BIZ-TIP by 0 Comment

The calendar tells us that 2013 is finished. It’s gone. Good, bad or mediocre, the year has ended and a new year has begun. But is 2013 finished? Are you done with it yet? As virtual accountants this is a very busy time for us finishing 2013 for our clients. There are 1099s to send..

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Dealing with Deadlines

On August 30th, 2013, posted in: Accounting, Productivity by 0 Comment

“A deadline is a deadline is a deadline” is part of the team handbook for our virtual accountants. The IRS and other tax agencies are very serious about their deadlines, so we are, too! Don’t let clients set unrealistic deadlines. It’s best to ask for a longer deadline than to have to ask for an..

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What are the Facts About IRS Conference Costs?

On July 12th, 2013, posted in: Accounting, Breaking News by 0 Comment

The IRS has released information about their 2010-2012 expenses for conferences. There has been a lot in the news recently about this. For meetings with 50 or more participants, here was their spending: 2010 —  $37.6 Million 2011 —     $6.2 Million 2012 —    $4.9 Million According to the IRS “Sweeping new spending..

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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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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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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 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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How Do You Keep Receipts?

On September 13th, 2012, posted in: Accounting, Security by 0 Comment

Most people know that they need to retain copies of their credit and debit card receipts to substantiate those expenses if they are ever audited. The problem is that those pesky little receipts seem to have a way of disappearing! Here’s how I deal with this problem for myself and for our virtual accounting office..

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