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2016 Deadlines and Dates

Its that time of year again, well technically that time of year started last month but I’m a little bit behind or on-time or just barely by the skin of my teeth on time. We are working hard to get all of our clients up-to-date and all requests handled as fast as possible after being “out” sick for a few months. Technically, I’m never out sick for more than a day or two but did have a small setback in August, then again in Sept, snowballing into December but I’m all healed and ready to get through these deadlines…so without further ado..the official deadlines. 1/27/16 = W2s have to be mailed out –  done 2/1/16 = 4th qtr 2015 Sales Tax Return and Payments due – whew, done 2/17/16 = 1099s need to be mailed out to people 2/29/16  = San Francisco Payroll Tax Return due for last year 3/2/16  = FAFSA due for California 3/15/16 = Corporate Tax Returns due 3/31/16 = 1099s must be electronically filed (at this point, no changes can be made) 4/15/16 = Personal Tax Returns due 4/16/16 = I’m going to need a...

How To Know If You Have Or Are A Great Bookkeeper

Absolutely love this post from Nerd Enterprises, Excerpt:  So how do you know if your bookkeeper is really great?! How do you know the difference between a bookkeeper who is just ok and one who really knows what (s)he is doing such that you are truly getting value for your money? How do you know if you are getting quality bookkeeping services? There are probably many ways of evaluating this and I am sure that if I ask 5 different people I will get 5 different answers with multiple criteria and there will likely be some crossover in the answers. The first thing a great bookkeeper should be concerned with when taking on your job is to review a copy of your books and along with that your last filed tax return. When I ask a client’s CPA for their last filed tax return so I can make sure the balance sheet agrees the reaction I get is that I am singing music to their ears. The very fact that I am asking for that tells them that I know what is important. It is also all too frequently an issue. Check your own company’s books right now. Go run the balance sheet for 12/31/xx where ‘xx’ is the last year you filed hopefully 2010 at the latest if not 2011. Then pull out your balance sheet page from your tax return. This does not apply to sole proprietors, only Corporations and LLC’s. Look at the Cash line: Does it agree to your balance sheet? Either way skip down to total Liabilities and Equity. Does that agree? Does the...

How to print 1099-DIV in Quickbooks

Interestingly enough I have one client that takes draws (ie dividend payments) for each stockholder but Quickbooks itself doesn’t really have a way to print out 1099-DIV statements however you can fool the system. If the Dividend payments are ordinary dividends, use the RENT box under 1099 preferences, if the payments are qualified dividends, use the ROYALITIES box under 1099 preferences since both of these boxes line up on a regular 1099-MISC statement form with the correct boxes on a 1099-DIV form. Then run your 1099 wizard/report and print the 1099-DIV just like you would your 1099-MISC...