Software Updates:
We currently use and support QuickBooks 2019 2020 2021 and 2022. We are QuickBooks Pro Advisors so we do stay current. QuickBooks 2019 will “sunset” in May 2022. If you are running QB2019 and do payroll, you will need to update. If you do not run payroll, there is no need to update.
We currently support Sage 2022.
We also support and use an oil and gas software: Sherware Disbursement and JIB Manager.
We currently support Sage 50 2019.
Payroll:
A brief word on annually paying Intuit or Sage for payroll functionality – we know it is expensive (around $200-$300/year), but if you are running your own payroll (ie without our help or without a payroll administrator company like Paychex or ADP) it is worth every penny. Period.
That said, if you are running payroll for more than a couple of people, you might want to consider a payroll administrator like Paychex, ADP or Gusto. It is not terribly expensive and they do everything – ON TIME. You avoid the frustration of accidental late filings.
Another option = PEO (professional employee organization). This is a great option for bundling benefits and insurances cost effectively, including cost effective workers comp and health insurance. Call us for more info.
Other payroll issues: all employers must remit payroll taxes electronically. YOU MUST APPLY TO FILE YOUR TAXES ELECTRONICALLY THROUGH EFTPS (see www.irs.gov and search EFTPS).
Other payroll issues: all employers must remit payroll taxes electronically. YOU MUST APPLY TO FILE YOUR TAXES ELECTRONICALLY THROUGH EFTPS (see www.irs.gov and search EFTPS). Please give us a call if you need help getting set up to remit your taxes electronically.
YEAR END PAYROLL INFO: IF WE DO YOUR W-2S, WE WILL ELECTRONICALLY FILE ALL W-2/W-3 TRANSMITTALS TO SOCIAL SECURITY ON YOUR BEHALF. IF WE DO NOT HAVE YOUR QB OR SAGE FILES YET, PLEASE GET THEM TO US AS SOON AS POSSIBLE. JANUARY JUST FLIES BY
PENALTIES FOR LATE FILING ENTITIES-THIS IS DRACONIAN! SEE BELOW:
********IMPORTANT IMPORTANT IMPORTANT!!!********
Most corporations and partnership tax returns MUST be filed electronically. PLEASE REMEMBER – there are stiff penalties for late filing S corporations, partnerships AND LLCs—all due this year on September 15, 2022. Penalties for late filing partnerships, LLCs, S Corporations are $205 per partner/member/shareholder per month for a maximum fine of $2,460 PER SHAREHOLDER, MEMBER, PARTNER. YIKES. We need 2021 S corp, C corp and LLC data in our offices by JUNE 1st to assure timely filing. We generally do not like to do the entities separately from the individuals related to them because we can miss opportunities to reduce taxes. That means – if we are doing both your corporation/LLC and your individual returns, we need your individual data in the office by June 1st as well. Or you risk HUGE penalties if the deadline is missed. You have been warned.
If you have a NEW corporation or LLC, we need to know NOW if you plan to have us do the accounting and tax work. Please send us information about it including tax identification number, names and addresses of shareholders/partners/members, date of incorporation/organization. If we don’t know about it, we cannot extend it. If we do not extend it, you will be penalized for late filing.