Current Newsletter & Archives
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1099-K Forms, Budgets, Reduced Sec 179, Incorrect W-2 and 1099 Forms, Start Up Costs, and more….
Welcome to our monthly newsletter with tips and information for your business.
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QuickBooks and Bookkeeping News
QuickBooks and Bookkeeping News
Your tax forms should be arriving in the mail. What about that 1099-K form you received? Find out more about what to do with this form when it comes to comparing what you have recorded in QuickBooks.
If you haven’t done a 2015 budget yet, we suggest that you do. Here is an article about Budgeting Basics, and the Intuit support article that takes you step by step through the process of setting up a budget in QuickBooks Pro.
Thinking of upgrading your Mac QuickBooks software? Compare the new 2015 QuickBooks for Mac with previous versions of QuickBooks.
You can integrate Constant Contact with QuickBooks, using a free add-on application.
If you are using QuickBooks 2012, you will need to Upgrade your software this coming May if you want to continue using some features such as payroll and online banking downloads.
Step by step instructions, and tips to ensure a smooth Update of Your Company File.
Seacoast Accountability is now 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 2014 software and products when you purchase from our website at www.SeacoastAccountability.com.
Payroll and Employee News
Wages are often a significant portion of operating expenses. You may be able to increase profits by reducing employee related expenses and increasing productivity. This article outlines How to Measure and Increase Employee Productivity.
Here is a list of documents that should be included in every Employee File, what should not be included, as well as how long to keep these documents.
Did you find an error on the W-2 forms that you prepared in QuickBooks. If so, you will need to correct or amend the form using a W-2C.
We generally mail out our 1099-MISC forms at the end of January, as required, but do not file them with the IRS until late February. This eliminates the need to file corrected forms with the government, if there are any problems with identification numbers, amounts, or addresses on the forms. If you received an incorrect 1099MISC form, ask the issuer to send a corrected 1099 to both you, and the IRS, if the form was already filed.
Give employees 24/7 access to their W-2 and pay information online using View My Paycheck.
Most states update their State Unemployment Insurance (SUI) Rate at the beginning of the year. We have seen NH change the rate more than once during 2014. Information about SUI rates and notices, how to change your rate in QuickBooks, and troubleshooting calculations, is provided.
Avoid the headaches-Seacoast Accountability payroll services start at $100 per month.
Check your refund status with the new IRS2Go app for Android and IPhone.
The IRS has A-Z for Business, which contains information about filing and payments, payroll, applying for an EIN, starting or closing a business, workshops and webinars, and business tax credits, to name a few subjects. Check it out if you are filing your own return, or to stay up to date on business tax regulations and issues.
Be aware, if you are a small business owner, the Section 179 write off of major equipment is currently limited to $25,000 for 2015, and there is no bonus depreciation deduction. Recent legislation extended the higher write-off and bonus depreciation deductions through 12/31/2014 only.
The new business mileage rate for 2015 is 57.5 cents per mile. Other 2015 mileage deduction rates can be found on our Tax Links page.
Read in detail about H.R. 5771, which extended several tax provisions for both individuals and small business until December 31, 2014, and added the ABLE act for families who have a child with disabilities.
Don’t forget, the Affordable Care Act (ACA), will impact your 2014 tax return.
Is your tax return getting too complicated to do yourself? Give us a call!
Small Business News
Entrepreneur Magazine’s Top 25 Business Podcasts provide a great way to learn about topics on business and marketing techniques, while you are performing some of the routines in your daily life.
Chip and PIN credit card processing is scheduled to take effect October, 2015. Find out how this industry shift will change merchant credit card processing and how to be ready for the change.
If you are thinking of starting a business, this is a good article about Estimating Start-Up Costs. It explains how to come up with a realistic estimate, the difference between research development and start up costs, and general bookkeeping principles regarding assets and expenses. It also defines various start-up financing and how it is reported on your financial statements. There are also links to more specific information on the subject.
If your business is registered in NH, now is the time to File Your Annual Report. The report is due by April 1, 2015, and does carry a rather stiff penalty for filing late.
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.