Peachtree 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 MoreHow to keep score in 2012
Congress has once again adjusted the dollar amount of allowabe mileage,social security limits,estate rates, and a host of other deductions. Here’s a handy scorecard for 2012.
Read MoreNew tax limits for retirement plans
It’s still early in 2012, but for our clients wanting to start their tax planning here are the updated numbers for this year. Retirement Plans Limits Plan Limit Limit with Catchup Simple 11,500 14,000 401(k) 17,000 22,500 Roth 401(k) 17,000 22,500 IRA 5,000 6,000 Roth IRA 5,000 6,000 403(b) 17,000 22,500 Roth 403(b) 17,000 22,500…
Read MoreCongressional Calculator only $9.99!
One of our clients is offering these retrofitted calculators. If you’ve followed the current budget -you’ll know why. Since the cash for clunker law was a disaster, maybe we could have calculators for Congress!
Read MoreAn example of evil greed
Who’s really being greedy here?
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