QuickBooksGal

IR-2011-69, June 23, 2011 WASHINGTON — The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The rate will increase to 55.5 cents a mile for all business miles driven from July 1, 2011, through Dec. 31, 2011. This is an increase of 4.5 cents from the 51 cent rate in effect for the first six months of 2011, as set forth in Revenue Procedure 2010-51. In recognition of recent gasoline price increases, the IRS made this special adjustment for the final months of 2011. The IRS normally updates the mileage rates once a year in the fall for the next calendar year. "This year's increased gas prices are having a major impact on individual Americans. The IRS is adjusting the standard mileage rates to better reflect the recent increase in ...

Income Withholding Order/Notice Income withholding is the court or administratively ordered deduction of a specified amount from a parent’s income for payment of child support. All employers must honor an income withholding order/notice for child support from any state. Out-of-state income withholding orders/notices are valid throughout the country including US Territories. All states are required to use a standardized withholding form entitled Order/Notice to Withhold Income for Child Support (OMB No. 0970-0154). A child support income withholding order/notice must be paid before all other garnishments, with one exception. The only exception is a Federal (IRS) tax levy entered prior to when the child support order was established. It is the date the child support order is established, and not the date the withholding order/notice is served on the employer, that determines precedence. The employer deducts the specified amount of child support each pay period and sends it to the:...

With the increased emphasis on e-filing, the IRS has been implementing plans to stop mailing tax packages to business taxpayers. Last fall, the IRS announced they would no longer mail annual income tax returns to businesses. In early March, the IRS added several forms and instructions to the list of discontinued mailings, most notably the Form 941, Employer’s QUARTERLY Federal Tax Return. Click here to read the full IRS announcement and see the list of forms and publications that will be affected. Got a QuickBooks Mess? Call The QuickBooks Gal! 775-348-9225 Call Northern Nevada's Only Intuit Solution Provider! Sales, Support, and Training 775-348-9200 qbdoc@qbdoc.com www.qbdoc.com The QuickBooks Gal Custom Business Solutions 1755 E Plumb Lane, Ste 101 Reno, NV 89502 775-348-9225 jayne @ qbgal.com

There are big changes in the 1099 process beginning January 1, 2011.  Do you know what they are and how they affect your business?  You can follow this link to the IRS  current publication that explains these changes and includes a link to check for updates that may result from congressional changes.   Here's a link to a PDF fill in W-9 f orm that should be issued to all 1099-eligible vendors. Got a QuickBooks Mess? Call The QuickBooks Gal! 775-348-9225 Call Northern Nevada's Only Intuit Solution Provider! Sales, Support, and Training 775-348-9200 qbdoc@qbdoc.com www.qbdoc.com The QuickBooks Gal Custom Business Solutions 1755 E Plumb Lane, Ste 101 Reno, NV 89502 775-348-9225 jayne@qbgal.com visit our blog:  blog.qbgal.com  Peachtree AccountCare Partner, One-Write Plus Conversion

Did you know you can get a Free Tax Calendar from the IRS?  When you visit the IRS site, you can click on the tab below the picture to order the wall calendar. You can order up to 5 copies!   This is GREAT TOOL for bookkeepers and small business owners! Check Social Security Numbers Online Now you can verify current and future employee Social Security numbers online.    Enroll online, then you can access the SSA site to verify employee social security numbers.  Save time, eliminate hassle, verify online! EFTPS - Sign up to pay your payroll taxes online Easy to sign up, easy to pay!  Great for managing cash flow....you can schedule future payments and pay online. QuickBooksGal Tip:    Open a dedicated checking account and keep a minimum balance of $100 in the account.  Then a day or so before your scheduled tax payment, transfer the funds to cover that payment into the "Payroll Tax Checking Account".  I prefer ...

Hi, I'm Jayne Miller, the QuickBooks Gal. Welcome to another in our series of “Quicklets” – informational podcasts about QuickBooks and related bookkeeping topics. You can listen to our archived podcasts at blog.quickbooksgal.com . If you are a Peachtree user, be sure to check out our new PeachPod series at peachpods.custmbiz.com . 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 at IRS.GOV . I generally mail this form to all s...