Bookkeeping Challenge Questions
Ever been faced with a bookkeeping challenge and didn’t know where to turn to have your questions answered? Well here’s your chance. Ask your questions about bookkeeping and managing your company’s books and we’ll respond to you within 36 hours. Just leave your questions in the comments below.
cforms contact form by delicious:days
We’re Almost There!
The time has come. April 15th is just around the corner and a lot of us are scrambling to get our taxes in on time. Many of us will take that plunge into the “unknown abyss” and become our own tax specialists. Others will seek the help of qualified professionals. Whichever your choice is, know that you can acquire help directly from the IRS. I know, when we hear those words, we generally want to run in the other direction. But think of it from this standpoint, your taxes pay the salaries of these government entities; therefore they should be at your disposal. The IRS has tons of information available to help educate you on how taxes work. If needed, you can even find information on locations that provide free tax services, as long as you qualify. In addition, their automated responses to the most common tax questions can be very useful. Just remember that since the time is near for the deadline these systems can experience overload with thousands of daily requests. I’d suggest that you try to find what you can via the website www.irg.gov. If you’re still confused, then contact a tax professional for assistance.
We must all remember, the IRS is here to assist us. Don’t take a defensive posture; stand tall and confident that you will get the answers that you deserve.
Partnering for your Success!
Jacqueline E. Williams
Financial Strategist.
AN UPDATE FROM JACQUELINE WILLIAMS
I just wanted to make you aware of a few important events that are about to expire.
FEBRUARY SAVINGS ON BOOKKEEPING SERVICES
Recently, I’ve gotten many requests from business owners wanting to know if I had any available spaces for bookkeeping clients. Well, now I do. I have 2 openings for bookkeeping clients and because of the current economic times I’m even providing a discount of 20% to all new clients this month. But hurry, I only have 2 spots available and the discount is only good for this month.
Our services include:
1. Set up company file in QuickBooks
2. Mange and record customer payments
3. Mange and pay vendor invoices
4. Bank Account Reconciliation
5. Employee payroll processing
Reserve your space by contacting us today.
SAVE ON TAXES SERVICES
Don’t wait until it’s too late. Avoid costly penalties and interest. Now is the time to get your taxes filed. Do it quickly, all over the internet. No need to wait in line for hours. All filers signing up before Feb 28 will receive a 15% off discount. Schedule your appointment today.
Partnering for your success!
Jacqueline E. Williams
Financial Strategist
Do you want to be the tax client from hell?
Don’t let your frustrations get the best of you during the tax season. There is a better way to handle all the stress of filing your taxes. Listen to our Bookkeeping 4 Success Radio Show, and take note of strategies that will help get you through tax season.
Now that you’ve issued 1099s and W2s, what’s next?
I’m sure by now, that your business has issued all of its 1099s and W2s by the February 2nd deadline, right? Well, the fun isn’t over. You also have to send copies of these forms along with a summary or transmittal sheet to the Social Security Administration and the IRS. To do this you’ll be using forms W-3 and 1096.
What is form W-3?
Commonly known as “Transmittal of wage and tax statements”, this form summarizes the total amounts reported on forms W2 issued to employees. It includes wages, federal and state taxes, Medicare, and other miscellaneous payments made to employees. You have the option of filing this form electronically or mailing it directly to the Social Security Administration. If you choose to mail the form, you need to include Copy A of the W2 statement for each employee that it was issued for. When filing electronically, you need only to send form W3. The deadline for filing this form is March 2, 2009
What is form 1096?
Commonly known as “Annual Summary and Transmittal of U.S. Information Returns”, this form summarizes various types of miscellaneous payments from forms 1098, 1099, W2-G, & 5498. You are required to file form W-3 electronically if you have more than 250 returns of any one type. If mailing the form, you need to include copies of all submitted 1099, 1098, W2-G & 5498. The deadline for filing this form is March 2, 2009 with forms 1098, 1099 & W2-G, or June 1, 2009 with form 5498.
In addition to federal submittal forms, each state has its own requirements for submission of employee and contractor statements. You must check with your local state taxing authority for specified instructions, or notify a bookkeeper for assistance.
Partnering for your success
Jacqueline E. Williams
Financial Strategist