Accounting Services

Intuit has recently added a new and improved features for 2011 that you may find useful for payroll users. 1. Setting up Direct Deposits for Vendors This new feature will save you time, as you will no longer need to print and mail checks to your independent contractors. This feature also allows you to more efficiently track your money. 2. Automatically submitting Intuit 401(k) contributions with payroll If your business uses Intuit 401(k), you can now automatically submit your employees’ 401(k) contribution amounts when you run ...

A crucial filing deadline of Oct. 15 is looming for many tax-exempt organizations that are required by law to file their Form 990 with the Internal Revenue Service or risk having their federal tax-exempt status revoked.  Nonprofit organizations that are at risk can preserve their status by filing returns by Oct. 15, 2010, under a one-time relief program. The Pension Protection Act of 2006 mandates that most tax-exempt organizations must file an annual return or submit an electronic notice, with the IRS and it also requires that any tax-exempt organization that fails to file for three consecutive years automatically loses its ...

Reasons you should attend the QuickBooks Training Classes Taught by CPA’s with years of experience who are also "QuickBooks Certified". QuickBooks Training saves you time and money. You'll begin to work smarter, not harder. Answers to your specific QuickBooks questions and solutions to your specific problems. Discover amazing QuickBooks tips and tricks. Learn to use your QuickBooks software the right way. Master those tricky transactions in QuickBooks. Comprehensive QuickBooks workbooks included. Your Satisfaction Guaranteed! For further information on ...

Q: What is the new hire retention credit and what does it apply to? A: This is a general business credit to encourage retention of the new hires.  The employer may claim the credit for each employee who is a qualified employee for purposes of the payroll tax exemption and who remains an employee for 52 consecutive weeks, provided that the employee’s pay does not decrease significantly in the second half of the year. The amount of the credit is the lesser of $1,000 or 6.2 percent of wages (as defined for income tax withholding purposes) paid by the employer to ...

Two New Tax Benefits Aid Employers Who Hire and Retain Unemployed Workers WASHINGTON — Two new tax benefits are now available to employers hiring workers who were previously unemployed or only working part time. These provisions are part of the Hiring Incentives to Restore Employment (HIRE) Act enacted into law today. Employers who hire unemployed workers this year (after Feb. 3, 2010 and before Jan. ...

IRS Announces 2010 Standard Mileage Rates IR-2009-111, Dec. 3, 2009 WASHINGTON — The Internal Revenue Service today issued the 2010 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2010, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 50 cents per mile for business miles driven 16.5 cents per mile driven for medical or moving purposes 14 cents per mile driven in service of charitable organizations The new rates for business, medical and moving purposes are slightly lower than last year’s. ...

Last year, 2 out of 3 tax returns were filed electronically. Was yours? If not, here are three important reasons to e-file your return. It’s fast Your tax return will get processed more quickly if you use e-file. If there is an error on your return, it will typically be identified and can be corrected right away. If you file electronically and choose to have your tax refund deposited directly into your bank account, you will have your money in as few as 10 days. It’s safe When ...

WASHINGTON — A new law that went into effect Nov. 6, 2009 extends the first-time homebuyer credit five months and expands the eligibility requirements for purchasers. The Worker, Homeownership, and Business Assistance Act of 2009 extends the deadline for qualifying home purchases from Nov. 30, 2009, to April 30, 2010. Additionally, if a buyer enters into a binding contract by April 30, 2010, the buyer has until June 30, 2010, to settle on the purchase. The maximum credit amount remains at $8,000 ...

At Toro Accounting & Consulting Services LLC of Orlando, Florida we specialize in providing Small Business Accounting Solutions at affordable prices. Our CERTIFIED QUICKBOOKS ® PROADVISOR will provide your business with all the tools to answer the number one question for any business owner: WHERE IS THE CASH? Since most small businesses in Central Florida use QuickBooks ®, at our accounting firm we have selected QuickBooks to account for our ...

It is not too late to file a return to claim your economic stimulus payment. You must file a return by October 15 to receive a payment prior to year's end. It can take up to eight weeks for the IRS to process the return and issue the check. People who have no tax filing requirement but have at least $3,000 in qualifying income should file a simple Form 1040A to claim the minimum payment of $300 ($600 for married couples) plus the $300 payment for each qualifying child younger than ...