Category: Accounting
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CPA sends ultimatum to small businesses
I regret that had to send a few small business clients an ultimatum this morning over what appears to be an unwillingness to address new tougher IRS tax filing requirements. This follows after I notified clients of the new filing requirement a few months ago, offered to handle the flings, but they declined. While the business tax…
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Free online tax return preparation offer
I will offer one free online tax filing service per day (subject to limitations) as a promotion of the advantages online remote professional accounting services. In this second week of February 2017 my peer accountants with brick and mortar offices were already reporting tax season work overloads. Meanwhile in my virtual online office I am now caught…
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We help with Turbotax returns
Self-preparers have an easy option for professional support! For many years I’ve promoted the concept that most people should be able to file their own tax return without outside help. In cases where the taxes are based on salaried income, investment income and other well-documented sources, it makes sense to file your own taxes online and…
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Trends in my blog traffic: strengths and weaknesses
I noticed a simple but striking pattern in the popularity and readership of my blog posts over the past year and thought I would share here for what it may be worth to others. The traffic report is compiled by Jetpack as a WordPress add-in for traffic on about 1,300 blog posts recorded since November…
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Limitations on free tax preparation for 2016 returns
Each tax season I am pleased to prepare some individual tax preparation services for n fee except the filing fee. My online filing service provider’s fee is $20 per return so the tax filer must cover this cost. My offer is usually made to a small number of middle income neighbors as a way to promote my…
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Online Banking with Chase/Intuit
Chase Bank, the last large bank to resist automated online integration with customer accounting software, announced a deal with Intuit, the nation’s largest consumer and small business software firm. Now customers can automatically reconcile accounts, analyze performance reports, prepare tax filings and make bank transactions from a single secure software with little effort and without the…
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Tip for 1099-MISC processing
I just finished the required 1099-MISC year end processing work for my on businesses because the new due date is January 31 this year. This task is pretty easy within QuickBooks. It took less than 15 minutes and cost less than $15. But I noticed one snag: it is difficult to tell which vendors are…
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Two new digital consumer scams
It seems that the number of ways consumers face financial risk online is expanding rapidly. No matter what we measures we take to protect ourselves, it seems that professional online scams are one step ahead of us. An online conversation tonight with a business friend triggered my to recall two recent suspected consumer frauds. I say…
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Taxation of S corporation shareholder health insurance
Taxation of health insurance for S corporation shareholders is one of the most discussed and convoluted topics in the accounting industry. This article by Shaw and Associates in Colorado presents the topic in a useful format for setting up a payroll system that I’ve not seen in other presentations: http://www.kevinshawcpa.com/s-corporation-shareholder-health-insurance-instructions/
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Warning about Woodard/Intuit CPE program
I attended a two-day CPE program September 21-22, 2016 and was denied five CPE credits because their server would not properly record the responses to attendance questions. The sponsor and presenters were aware of the problem in real time via chat communications in the side bar accompanying the live broadcast. The CPE issuer apparently had…