Posts by elitecpas
Independent Contractor vs. Employee – IRS throws a bargaining chip into the mix
The IRS has launched a new program that may help employers to resolve past worker classification issues (Independent Contractor vs. Employee) at a relatively low tax cost by voluntarily reclassifying their workers. As regular readers know, IRS’ attitude on this issue has been less than helpful in the past. Personally, I do not know of…
Read MoreAsset Protection Advice
This initial podcast was intended for doctors but it’s applicable to others as well. Asset protection expert Martin Shenkman gives advice on how to keep your net worth secure. https://elitecpatax.com/audio/assetprotection.mp3
Read MoreChanging the Password on your SCA portal
Security professionals advise changing passwords from time to time. Here’s how you do it with the client portal that we provide. There are only two steps. Click on your name in the upper right corner. Then click Update Password. If desired, you can also change your login from the default (your email address) for even…
Read MoreA great time to invest?
Our tongue-in-cheek humor as we look at the reporting and sale of investments.
Read MorePeachtree users – Here’s how to add the owner’s health insurance to the W-2
Clients with S-Corps – Don’t forget that you cannot deduct your health insurance costs without loading them onto your W-2. Here’s how to do it. [gview file=”https://elitecpatax.com/images2/peacthreeW-2Health.pdf”]
Read MoreIntuit solves the wrong problem with a new Quickbooks option
For clients using Quickbooks, here’s a useful tip from one of our most trusted sources for software training. The instructors at K2 Enterprises will walk you through the process of limiting your Quickbooks data file to the current year. This will make QB run faster and more efficiently, but this does not solve the IRS…
Read MoreIRS targets Quickbooks and Peachtree users and makes outrageous demands!
We’ve known for some time of the IRS’ stated intent to educate at least one member of every audit team with advanced knowledge of Quickbooks and Peachtree Accounting. Given that these two programs have over 80% of the small business software market, one could understand this goal. The unsettling news is that IRS intends to…
Read MoreDoes Volunteering Your Time Mean Volunteering Your Insurance?
by Guest EditorRick Viall rviall@viallins.com Millions of Americans donate time—their most valuable asset—to serve as a volunteer board member on non-profits, booster clubs, churches, PTAs and civic organizations, just to name a few. The decisions these folks make can have a dramatic impact on their respective organization—and not always for the better. If a volunteer…
Read MoreDownside of Online: Cyber Crime & Stolen Data
by Guest EditorRick Viall rviall@viallins.com How safe is private information when stored electronically? You may not want to know the answer to that question. But if you’re just a bit curious, consider visiting privacyrights.org/data-breach. The site allows you to scroll through a frequently updated chronological list of reported breaches of private data. Some data are…
Read MoreSounds too Good to be True: Downloading Illegal Music
by Guest EditorRick Viall rviall@viallins.com Remember the days of curling up to the radio on a Saturday night, torturing yourself through commercials and lame tunes just to be able to crank it when Mr. DJ played your favorite song? No longer does one require the patience to spend an entire evening anticipating the next round…
Read More