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Seacoast Accountability Newsletter April 2012
Welcome to our monthly newsletter with tips and information for your business.
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QuickBooks and Bookkeeping News
Ah, another reason to love QuickBooks 2012 Premier and Pro versions. The new updated version now has a feature that allows you to easily manage Bounced Checks. There is actually a bounced check button on the Receive Customer Payments window that allows the reversal of the payment and the addition of associated bank charges.
Do you have more than one bank account in QuickBooks, and find that you have entered information into the wrong bank account? Here is a neat way to Change the Color of Your Check Registers to be sure you are entering information into the right check register.
Seacoast Accountability will soon be offering affordable QuickBooks classes! Email us at info@SeacoastAccountability.com, or call us at (603) 834-1271, for further details.
Save up to 35% on QuickBooks 2012 software and products when you purchase from our website at www.SeacoastAccountability.com.
Payroll and Employee News
If you have been classifying workers as independent contractors, that should have been employees, relief from penalties and payroll taxes are offered through The Voluntary Classification Settlement Program (VCSP)that was rolled out September 21, 2011. By reclassifying, you can resolve past worker-classification issues as well as save money in back payroll taxes, paying only about 10% of the payroll tax liability for the most recent tax year (or about 1% of wages paid). Read more about the qualifications that would make you eligible for this peace of mind program.
Not sure how you should be classifying your workers? Here is an IRS archived webinar explaining the differences between Classifying Workers as independent contractors or employees.
Avoid the headaches-Seacoast Accountability payroll services start at $100 per month.
Taxes
Can’t File by April 17th?This IRS article explains how you can use Free File to get a six-month extension and the basics of filing an extension, as well as E-Pay and payment agreement options that are available to people who owe tax and cannot pay by the filing deadline.
Watch this IRS video that explains how you can get up to a $9600 credit if you Hire a Veteran by the end of 2012. A credit is also available for veterans hired during 2011. Click on the link to find out more information about this credit.
Is your tax return getting too complicated to do yourself? Give us a call!
Small Business News
This link explains how you can receive a tax break by obtaining Health Insurance for you and your family, if you are self employed.
Offering health insurance to your workers can give you a big tax break. To be eligible, you must cover at least 50 percent of the cost of single (not family) health care coverage for each of your employees. You must also have fewer than 25 full-time equivalent employees (FTEs). Those employees must have average wages of less than $50,000 a year. The Health Care Tax Credit can mean big bucks back in your pocket for tax years 2010 through 2013.
Seacoast Accountability is looking for professionals who would like to have a link on the resource page of our website.
Disclaimer: This post is intended to provide general information about the subjects posted. It should no way be construed as tax or financial advisement. We do not endorse any website or product introduced here. Please contact Seacoast Accountability, a CPA, or a tax professional to discuss your particular tax or financial situation.
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Seacoast Accountability
2 Washington Street
Picker Building,
Suite #301-302
Dover, NH 03820
603-834-1271
http://www.seacoastaccountability.com/