QuickBooksGal

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:...

Effective April 1, 2011, and beginning with all first quarter 2011 filings, the California Employment Development Department (EDD) is modifying the existing payroll tax forms and changing the filing frequency for the Contribution Return. In summary, the changes are:  The DE 7, Annual Reconciliation Statement, is being replaced with the DE 9, Quarterly Contribution Return and Report of Wages. The DE 9 must now be filed on a quarterly basis.  The DE 6, Quarterly Wage and Withholding Report, is being replaced with the DE 9C, Quarterly Contribution Return and Report of Wages (Continuation). The DE 9C filing is still required quarterly.  There is no change to the DE 88, Payroll Tax Deposit form. What You Need to Do Intuit Payroll is committed to keeping you up-to-date with your payroll service and making sure you have the latest information. If you currently file and pay to the California Employment Development Department using DE 6 and/or DE 7, here’s how the EDD changes may a...

Upcoming Payroll Tax Filing Dates and Federal Reserve Holidays to Remember Payroll Taxes May 2, 2011 : Deadline to file Form 941 for first quarter 2011 if you did not deposit all taxes when due. May 2, 2011 : Deadline to deposit FUTA tax owed through March if more than $500. May 10, 2011 : Deadline to file Form 941 for first quarter 2011 if you deposited all required payments on time. August 1, 2011 : Deadline to file Form 941 for second quarter 2011 if you did not deposit all taxes when due. August 1, 2011 : Deadline to deposit FUTA tax owed through June if more than $500. August 10, 2011 : Deadline to file Form 941 for second quarter 2011 if you deposited all required payments on time. Holidays May 30, 2011 : Federal Reserve Bank holiday—Memorial Day. July 4, 2011 : Federal Reserve Bank holiday—Independence Day. September 5, 2011 : Federal Reserve Bank holiday—Labor Day August 1, 2011 : Deadline to file Form 5500 or 5500EZ for 2010 if you maintain an employee benefit...

Intuit has released Payroll Update 21108 , which includes revised tax tables. Several forms updates are also included for Standard and Enhanced Payroll subscribers. To see the complete contents of this update, click here . 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

Getting ready to visit your CPA or tax preparer? Not sure what reports to send? First thing you need to do is determine if you file your taxes on a Cash Basis or Accrual Basis. Take a look at last year’s tax return or give your tax pro a call…they can tell you which basis applies to your business. QuickBooks allows us to print reports in either format, so you can easily print the reports your tax professional needs (and save money if you send the properly formatted reports). Simply select the Modify button inside the report onscreen and change the basis from Cash or Accrual as needed….easy! A report that doesn’t have that option is not affected by the Basis. Here’s a list of the reports you should take to that meeting. (Cash Basis and Accrual Basis if you are not sure): • Profit & Loss Standard for the tax reporting period from the Company & Financial report listing (Cash and/or Accrual Basis) • Balance Sheet Standard for the tax reporting period from the Company ...

Social Security Rates Have Changed!  Be sure you are using the right rates! Soc. Sec. and Medicare Rates            4.20%   Employ EE                                                            6.2% Employ ER Social Security Wage Limit                 $106,800 Medicare Wage Limit                          Unlimited FUTA-taxable Wage Base                  ...

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 ...