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    NEW YEAR - NEW QBO FEATURES!

    Happy New Year (a little late)!
    For all of you who are using QuickBooks Online, you may be seeing new things pop-up due to New Features that are being rolled out this month and next.
    If you do see something new and you're curious and would like to learn, please feel free to just give me a call or drop me a line or choose an appointment time to ask questions and learn about them.
    This is also true for questions about anything current.  You may be surprised to find that there may be a solution to something, or a new trick to learn, that can make your job easier and more efficient.  There are so many features that can help, and I love to share them.
    I hope you're having a good January -- I know mine has been super-busy with everything that must be done for year-end (including the dreaded 1099's) -- and hope to hear from you.
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    Happy new year 2023

    Hello Everyone, and Happy New Year!

    With the January rush, it is necessary to prioritize the work that needs to be done to meet the most immediate deadlines (payroll reporting, sales tax, and 1099-NECs).

    After those deadlines have been met, I will begin the work to  finalize your records for your accountant to use for tax preparation -- and any other work that is needed.

    I have set up a scheduling app if you would like to schedule an appointment with me (See link below).  For January, I have limited the appointment length to 30-minutes.  Beginning February 1st, one-hour appointments will be available again.

    Thank you, and I look forward to working with you another year!

    www.calendly.com/becca123
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    life goes on :-)

    It is a crazy time for us all -- but life goes on as usual (sort of)...
    I haven't had time to post, although there has been a need with all of the out-of-the-ordinary things happening, but am going to try to catch up a little now.

    PPP Loans:
    I have been monitoring the situation, but please let me know if you receive a request to complete an application for forgiveness and need help.  QuickBooks and Gusto both are providing special reports for this purpose, and I am deferring to your accountant when appropriate.

    Familys First Coronavirus Act:
    Under this act, Employers pay Employees for Covid-related time off and deduct the cost from their 941 payroll tax payments.  There will be a link (see Tools and Links) with detailed information on this, but please be aware of the requirement to pay employees in certain circumstances and know that it needs to be recorded in a specific way.

    Payroll Tax Deferral (Employee SS):
    This is the latest via executive order that went into effect September 1st.  Under this order, social security deductions from (most) employees pay are to be deferred until December 31, 2020, and then repaid by the employee between Jan 1 and April 30, 2021.
    However, payroll providers have requested clarification as there are many unanswered questions so it hasn't yet gone into effect in QuickBooks or Gusto payroll pending more information.  Stand-by on this one.  In my humble opinion, it will cause many many headaches in implementation, reporting, and re-collection from employees.

    Fun Stuff:
    So, it's not all doom-and-gloom.  Lots of things going on with Intuit!  
    Payroll -- changes that were planned to go into effect months ago were post-poned due to the pandemic.  You may be receiving some notices about the changes -- I believe by October 1st.   Please contact me if you have any questions.  The payroll options are all changing (for the better I think), so please feel free to get in touch to discuss what plan is best for you or to ask any questions you may have.
    QuickBooks Labs has some interesting new things!
    • QuickBooks Themes (dark theme) -- I really like this one, as it is easier on my eyes.  It is a little bit quirky at the moment, but feel free to give it a try -- you can always switch back if you don't like it.
    • Tags -- this could be a very useful feature.  There is a very short video to watch to see if it is something you would like to try.
    • Cashflow Dashboard Widget -- for those who like a picture of your inflow/outflow of cash.
    • Community Reports -- tap into customized shared reports to save time setting up commonly used reports that aren't 'standard'.
    • If you try any of the features in labs, please be sure to leave feedback!  Especially if it is something you really would like to see made permanently available.  Labs is just that -- features being tested to see if they should become an added feature in QuickBooks!

    Okay, that is all I have for now.

    I would like to thank you all for being so patient with my current work schedule.  I think we are all managing the best we can under the circumstances, and I truly appreciate your understanding and flexibility.
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    february 2020

    Whew -- the January rush is (finally) over, and I am ready to get on with the February work of reviewing and wrapping up 2019.  This month will be all about getting everything complete and tidy for tax preparation.

    A couple of notes of interest...

    The AIPB (American Institute of Professional Bookkeepers) states that even though the IRS does not require it, you may want to ask for (not demand) a new W4 from your employees for 2020 to avoid any possible year-end tax surprises.  The IRS Advisory Council recommends that all employees be asked to file a new W-4.  I feel that this is something they should complete at home so they can have their personal information at hand and have some privacy.

    For Payroll Clients -- depending on the payroll service plan you are on, I would like to make you aware that there are some changes in the works, and especially that there are additional services available for you and your employees if you are interested, including health care plans, 401Ks, HR services, workers comp, donation matching, etc.  It's a good time to be making changes and get 2020 off to a good start!  Please feel free to ask me if you're interested in anything.

    Finally, I plan to post whenever there is something I feel is important to share to keep you informed about changes and issues that may affect you.  I am also going to try out sending this via newsletter.  I promise to try to keep the posts and newsletters short, sweet, and infrequent.   Please sign up if you are interested.

    short and sweet newsletter sign up

    *

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    2020

    Happy New Year!
    It has been a very long time since I have posted anything, but I resolve to try to keep it up this year.
    The main news at the moment is regarding the redesigned W-4 form for 2020.  Effective January 1st 2020, any new W4's must be submitted using the new form.
    Current W-4's that were submitted prior to 2020 are still valid, and employees are not required to fill out the new form unless they make changes that require them to submit a new W-4.  All newly-hired employees must use the new form.
    I believe there are going to be many questions about completing the form, but my advice is to just follow the directions, and to use the online estimator at www.irs.gov/W4app if necessary.
    Please let me know if I can be of any help.
    You can get the new forms at www.irs.gov, or here on my website on the Tools and Links tab.
    Thank you!
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    Busy Year-End with Changes

    It is turning out to be an even-busier-than-expected year-end with unexpected changes cropping up.
    • The half-cent sales tax for the Indian River Lagoon passed. The tax rate will be a total of 7% effective on Jan 1 2017.   That is actually 6% State sales tax plus 1% County surtax. If you need any help setting that up in QuickBooks, please let me know.  In QuickBooks it needs to be set up as two separate taxes and combined.
    • The Florida Minimum wage is increasing from $8.05 to $8.10 on Jan 1st 2017.
    • I expect you will begin receiving your new Florida Unemployment rate notices (Form RT-1) within the next few weeks.  When you receive them, please shoot a copy to me for my records asap so I can make the changes.
    • The DOL's - Department of Labor's - new FLSA regulations go into effect December 1 2016.  In case you aren't familiar with this or need to discuss it, please let me know.  The link to the page on their website with more information is:  https://www.dol.gov/WHD/overtime/final2016/
    • The new W2 and 1099 deadlines are still in effect for this year, so please be sure to gather and confirm all of the information needed to process them without any delays.  It is a good time to have your employees confirm their information is correct and current, and to review for 1099's and gather any W-9's you may be missing.  Before people disappear for the Holidays is best.
    That's all for now.
    I wish everyone a wonderful Thanksgiving!