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Showing posts from December, 2012

Important Payroll Update!

Lend your eyes and ears to this important update!

       Inuit has just released Payroll Update 2013, with revised tax tables. There are Several forms updates that are included for Standard and Enhanced Payroll customers. As you read this you should be asking yourself whether or not you have already received the Payroll Update 2013.


Not sure if you have received it or not? Don't worry! Below you'll find instructions on how to check to see whether or not you have gotten the update.Make sure that you have received everything in the P Update so that you can be in compliance with legislation that affects your payroll. For details on the contents of this update, open QuickBooks, go toEmployees > Get Payroll Updates, and click on the Payroll Update Info button.
How to check to see if I have the update? Open QuickBooks and choose Employees > Get Payroll Updates. You should see a message that says, "You are using tax table version: 21302." If you do not have version 21302,…

8 Good Bookkeeping Practices!

1. Open a specified business checking account 2. Do not share funds.  Spending from the business account should be for business purposes and expenses only. Never deposit directly into your personal bank accounts. 3. Hold on to ALL your receipts! 4. Submit the receipts for reimbursement so the company will have a record of the expense if you must make purchases from a personal fund. 5. Be aware of the state and federal rules of your business’s entity type 0 sole proprietor, S-Corp, C-Corp, or LLC 6. When contemplating adding another employee, verify and understand the TRUE cost of the employee and your obligations for timely tax remittals as the employer. 7. Employee taxes are not your money 8. Sales tax funds should never be combined or incorporated into your operating capital or counted on for operating. This is not your money. 
Got a QuickBooks Mess? Call the QuickBooksGal! 775-348-9225

Payroll Update: Revised Tax Tables

Intuit has releasedPayroll Update 21301, with revised tax tables. Several forms updates are included for Standard and Enhanced Payroll customers. This email also provides details on the following: Managing the 2013 Medicare tax rate change in QuickBooksFederal payroll-related changesImportant year-end informationIt's important that you receive everything in the Payroll Updateso that you will be in compliance with legislation that affects your payroll. For details on the contents of this update, open QuickBooks, go toEmployees > Get Payroll Updates, and click on thePayroll Update Infobutton. How do I know I have the Payroll Update?To make sure that you have received the latest update, open QuickBooks and choose Employees > Get Payroll Updates. You should see a message that says,"You are using tax table version: 21301." If you do not have version 21301, clickUpdate. For more detailed instructions,click here. QuickBooks also provides an automatic updates feature for Pa…

Got Mac?

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Calling all you Mac users! The QuickBooks Gal now supports QuickBooks for Mac! The QuickBooks Gal is your ONE stop center for all your QuickBooks needs, including Mac and our newly certified QuickBooks Online! Call now and mention QBGALMAC and receive a free 30 minute consultation with The QuickBooks Gal!


Quickbooks for Mac would work well for Apple users looking for a familiar Mac based program that runs well, is easy to use, and gets things done. It also works great for small businesses! Quickbooks for Mac makes accounting very easy and provides all sorts of reports to show you exactly how your business is doing financially. No matter what type of business you run or are looking to start, you need to have accounting software and we can help! We can answer any QuickBooks questions, from QuickBooks online to QuickBooks Mac we are Northern Nevada's leading QuickBooks ProAdvisor!


Got a QuickBooks Mess? We Set Up, Clean Up & Train! Bookkeeping & Payroll Services. Shoe box to C…

Standard Mileage Rates

Std. mlge. rates                                 2012
Business                                             55.5c/mi
Relocation                                          23c/mi
Medical                                              23c/mi
Charitable Rate                                  14c/mi

*Only for owned/leased passenger autos, vans, pickups or panel trucks not used for hire on which no 179 or depreciation was taken.

For IRS forms and publications call 800-829-3676

Payroll Rates and Bases

Payroll Rates and Bases2012
Employee SS and Medicare                                   4.20%/1.45%
Employer SS and Medicare                                   6.20%/1.45%
Social Security wage limit                                       $110,100
Medicare wage limit                                               Unlimited
FUTA-taxable wage base                                       $7,000
FUTA rate                                                              6.0%
FUTA maximum credit                                           5.4%
Minimum FUTA deposit rate                                  0.6%


Key Phone Number for IRS forms and publications! 800-829-3676

2013 Social Security Rates and Ceilings

The FICA wage limit for tax year 2013 is $113,700. The temporary decrease in the employees SS tax rate from 6.2% to 4.2% is scheduled to expire Dec 31, 2012. If it does, the 2013 SS tax rate for employees  will go back to 6.2%. Regardless, the employer SS rate remains at 6.2%. Their is no wage ceiling on the 1.45% employee of employer Medicare tax.

Company Computer Usage Policy

Do your employees stab at their keyboards when you approach? Are their giggles unlikely to be caused by open invoice report or check register on the screen? Are they spending more time reading from their screen than producing when at the computer?
Maybe it's time for a formal Computer Usage Policy. Consider a policy that expressly states all or a variation of the following check list. I print two copies, require that employees sign both copies (one for them and one for me) and I add a disclaimer above their signature that violation of one or a combination of the above policies will be considered grounds for termination.
Company Computer Use Policy
1 - Our company uses a web-based email (if applicable). Do not use any other email or install email portals on your workstation.
2 - Our company uses only Internet Explorer, Firefox, Opera, etc. Do not use or install any other web browser on your work station.
3 - Do not open an email attachment before scanning it with virus protection softwa…

W-2 Reminders!

Last year I published a podcast about W-2's and 1099's that I think is worth repeating. It's getting to be that time of year and we need to be thinking about some of the things we have to do to get ready.As a business owner with employees or subcontractors you will be required to issue W-2's to employees and 1099-Misc to non-incorporated, non-employee service providers.

Subcontractors and service providers who are not incorporated must provide a form W-9 to you. You'll use this information to issue a 1099 to them if they were paid $600 or more in the tax year. You can download form W-9 atIRS.GOV. I generally mail this form to all subcontractors with their first payment. If you haven't done this yet, then it would be a good idea to mail or fax these out now so you will be prepared to process forms next month.

Form W-2 for Nevada employers is a 4-part document. You will issue 2 copies to the employee, keep one file copy with your payroll records and submit one c…

Heads Up: Social Security Payroll Increase in January 2013

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The 2013 Social Security wage base will be going up again (just like the 2012 Social Security wage base increase). The wage base in 2013 is $113,700. It’s an increase over the 2012 Social Security wage base, which was $110,100. The wage base increase follows an increase last year over the 2011 Social Security wage base, which was $106,800.
More than 56 million Social Security recipients will see their monthly payments go up by 1.7 percent next year. The increase, which starts in January, is tied to a measure of inflation. It shows that inflation has been relatively low over the past year, despite the recent surge in gas prices, resulting in one of the smallest increases in Social Security payments since automatic adjustments were adopted in 1975.
Social Security payments for retired workers average $1,237 a month, or about $14,800 a year. A 1.7 percent increase will amount to about $21 a month, or $252 a year, on average. Social Security recipients received a 3.6 percent increase in ben…