Fredrick James Partners with ADP®

Fred Daus, CEO of Fredrick James Accounting, announced this week the acceptance of a preferred partnership with ADP, the largest provider of payroll services in North America with over 60 years of experience in the industry. This agreement allows Fredrick James to offer [Read More]

IRS Audits to Hit Small Business Harder in 2012

The Treasury Inspector General for Tax Administration (yes, even the IRS has a big brother!) performed an audit on IRS procedures for conducting audits of corporate tax returns in 2011. This procedural audit showed that Small Business/Self-Employed Division IRS examiners [Read More]

Extended Payroll Tax Cut Could Benefit Small Business Owners

We’ve discovered some good news for the savvy small business owner. The IRS has extended a 2011 payroll tax cut through the end of February 2012. This tax cut is a 2% reduction in Social Security tax from 6.2% o 4.2%. (which they assure us will have no effect on our [Read More]

1099-K, Merchant Account Payments and You

What is a 1099-K and why am I receiving it? The 1099-K is a new form for 2011 for reporting payments to the IRS that are received by a person or a business from a Merchant (Visa, Mastercard, American Express, Discover) and/or a Third Party Network, (PayPal, Google Checkout, [Read More]

1099 Reporting for Business and Rental Owners Repealed!

The House, Senate and the President signed a law on April 14, 2011 that repeals the expanded “1099” reporting requirement for business and rental owners.  The repealed law signed in under the Affordable Care Act removed the requirement for business and rental owners of [Read More]

Ignorance Is Not Bliss: What Tax Records Businesses Need to Keep

Last week we went over the individual tax payer’s record keeping requirements, this week I want to discuss what business owners should be holding onto and for how long. Obviously businesses have a more extensive list of record keeping requirements than individual do [Read More]

Fast and Easy Cash Accounting….oh, it’s Accrual World

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Accrual Method or Cash Method Accounting? It’s one of the first questions you’re usually asked when setting up your accounting software and it can be one of the most puzzling. This topic is complicated and often confuses a lot of people (you are not alone if you’re [Read More]

Its Here & There Is No Escape: Business Tax Return Deadline Sept. 15

I hate to be the bearer of bad news, but the time for putting off your business tax return is over. But, of course, you’ve already turned in your paperwork to your Accounting professional and you’re all set to go because you know corporate and partnership tax returns [Read More]

Singin’ The AR Blues? How To Get Your Business Mojo Workin’ Again (Part 2)

In our previous blog we began exploring the benefits of changing your invoicing policy and how that one small change can effectively save you from becoming a casualty of your clients cash flow problems. Today we are looking at the specifics as to how to go about putting [Read More]