QuickBooksGal

New Tax Tables! As of 2018, The International Revenue Service (IRS) has established new income-tax withholding tables to accommodate for the 1.5 trillion dollar tax overhaul. This updated version has been the first major rewrite in 30 years. If you are not familiar with this newly passed tax cut, it provides large cuts to corporations and the wealthy while giving mild cuts to middle and lower class. For the latest news on these tax cuts and information for this blog provided by: IRS.gov/Notice1036 Below includes the table for Percentage Method for Income Tax withholding for wages paid in 2018. For tips on how to interpret these tables visit: https://www.irs.gov/pub/irs-pdf/n1036.pdf For all your Quickbooks needs, call the Quickbooks gal!

Top 5 Sales Tax Filing Mishaps Are you a small business owner dealing with taxes to do this season? Here are a list of things to avoid when filing.  1. Not paying attention to different rules for different states When you cross over borders, sometimes the rules may and probably will change. Each state has their own way of doing sales tax compliance's. These rules can vary in due dates, formats, penalties and more. Make sure if you are covering a variety of states that you have all your ducks in a row before you begin! 2. Not filing for anything because you didn't have any tax Just because you didn't collect any taxes throughout a certain period, doesn't mean you don't have to file. Most states make you do filing for periods that you didn't collect anything at all. If not completed, you may be penalized! Be on the look out and don't blow off filing just because you had no data for that period.  3. Recording wrong numbers When given a ...

TAX SEASON SCAMMERS:  Don't be a Victim With tax season, comes scams. When reading the February 2017 issue of the General Ledger (Vol. 34, No 2) I came across an article warning the consequences of falling into a common scheme and how to avoid it this Spring. These scams were aimed to trick accountants, bookkeepers, and tax professionals. It all starts with a phone call or an email. Over the phone, once the potential victim is reached, the person on the line will act as if they are with the IRS. They will ask you to verify certain details regarding your personal information, such as your Social Security number or credit card info. They may even read you data and ask if it is correct.You may also receive an email asking for the same information. In addition, you may receive a message over email telling you there are software updates that need to be performed on your computer. Once you hit download, a program automatically floods your computer stealing your informatio...

Nevada Sales Tax to Increase  in Select Counties If you are a resident of Washoe or Clark County, make sure you are informed and aware of these sales tax hikes in just a few months. "Those who collect and remit Sales and Use Tax will need to make changes to business processes as necessary to collect tax at the new rate. Businesses should be sure to file the most recent tax return forms. Filling online at Nevada Tax Center is the best option to ensure up-to-date tax rates."  If you have questions or need more information, please call the Nevada Department of Taxation at:  866-962-3707 Information from this blog, as well as tax returns can be found on the Nevada Department of Taxation website:  https://tax.nv.gov Also, if you have any concerns regarding the new tax raises you may also feel free to contact us here at the QuickBook Gals.  Got a Quickbooks mess? Call the Quickbooks Gal!

IRS changes W-2 & 1099 filing deadlines In an effort to prevent fraud,  The Protecting Americans from Tax Hikes (PATH) Act of 2015   was passed by Congress and signed by President Obama in December 2015. One key provision revises the filing deadline for Form W-2 and certain types of Form 1099.  What's Changing? Until now, employers had two dates to keep in mind when remitting W-2's: January 31, to provide employee copies, and February 28, for paper filings submitted to the Social Security Administration (March 31 for electronic filings). Beginning with forms for tax year 2016 , the filing deadline for all federal W-2s is  January 31 . This is true for both employee and agency copies, or whether filing paper or electronic returns.  What about Form 1099-Misc?   The new January 31 deadline applies to certain types of 1099s.    If you're filing Form 1099-Misc and reporting amounts in  Box...

Are you an Apple Product user? In love with your Iphone? Never too far away from your Mac? Totally obsessed with the Apple Watch? Well now you can check how your business is doing from almost any Apple products! With QuickBooks Online App you can check your QuickBooks anytime, anywhere on any smartphone or tablet.  Track invoices, statements and even inventory!  Be able to see who has paid and who hasn't! Take pictures of receipts that transfer over to your QuickBooks, that way you don't have to carry around a bunch of receipts or be scared to lose them!  With Profit & Loss and the Balance sheet being on the homepage you can always see how your business is doing no matter where you are. At home, the grocery store, even the beach, you are able to check how your business is doing! Use Touch ID for your log in for the QuickBooks App, that way you know your business information is protected. Have an Apple Watch? Thinking about getting an...

QuickBooks Online has Apps and Add-On's made to help you get the most out of QuickBooks. Here a new Apps that have been introduced to QuickBooks Online! Shopify With Shopify you are able to import all your orders through Shopify to QuickBooks, that way you don't have to manually add each product. Plus this means less work for you!  You can export all your orders into a sales receipt. Choose the dates and the products to create custom sales receipts! Taxes are automatically added! Shopify will add the Tax to your items for you. That way you know you aren't under charging your customers! DataQlick Track your sales in the most detailed way possible with DataQlick Choose to see your information through statistics, KPI, charts, tables and reports. Save you time and effort! With DataQlick create, prioritize, tag, communicate and assign tasks to teammates or even clients. DataQlick helps you get your work done fast! Which means mor...

QuickBooks Update! Here’s a list of QuickBooks enhancements for September. Thanks as always for your feedback!  Bank feed rules. Process bank feed transactions faster and with more control using bank rules. Create rules to scan bank items for certain details, and then assign specific payees and categories to them. Applied rules appear on the Bank Transactions page here and here. To get started, go to Transactions > Banking > Update > Manage rules (upper right corner). And look for a separate article on how to use rules coming soon! Send later. A Send later checkbox now appears on invoices, estimates, sales receipts, credit memos, and related recurring transactions. This lets you change whether you want an individual form to be added to the send queue . Create (+) > Invoice/Estimate/Sales Receipt/Credit Memo. Preview and customize statements. When you click Create statement in the Action column on the Customers list, you can now preview statements, ...