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QuickBooks Training Workshop (Raleigh, NC) – Tues, May 8th 2012

http://qbworkshopmay2012.eventbrite.com/

Brush up on your QuickBooks skills or learn new ones! Join our Certified QuickBooks ProAdvisor for this interactive and informative QuickBooks training class. This will be a four hour “crash course” that will cover the basics and provide live working demonstrations so you can  quickly learn to use QuickBooks to manage your accounting data.

Topics to be covered will include:

  • Setting up your Company File and Chart of Accounts
  • Working with Lists, Items, and Classes
  • Customer Transactions: Sales Receipts, Invoicing, and Receiving Payments
  • Vendor Transactions: Writing Checks, Entering and Paying Bills
  • Recording Bank Deposits and Credit Card Transactions
  • Preparing and Understanding Reports

Additional content may be covered if time permits.  Every participant will receive a free training packet that will include step-by-step student lessons and other useful information for future reference and support.  Bringing your own laptop to follow along is optional but not required. Light Refreshments will be available.

Time: 1:00-5:00PM.  

Ticket Price: $99.00

Hurry, seating is limited!

Venue Info: Team Nimbus Center – 3801 Computer Dr.  Suite 101  Raleigh, NC 27609

Presented by: netWorth Bookkeeping & Payroll Services of Cary, NC – www.netWorthBookkeeping.com

216 E Chatham St, Suite 102, Cary, NC 27511

For more information: 919-249-6200 or info@netWorthBookkeeping.com

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It’s almost tax time! Tips to Streamline Your Year-End Processes.

It’s December already and we wanted to provide some helpful reminders in order to help you streamline your year-end and tax return processes for 2011.

S-Corp Owners Health Insurance Reportable on W-2 – From the IRS: “Heath and accident insurance premiums paid on behalf of the greater than two percent S corporation shareholder-employee are deductible and reportable by the S corporation as wages for income tax withholding purposes on the shareholder-employee’s Form W-2. These benefits are not subject to Social Security or Medicare (FICA) or Unemployment (FUTA) taxes. The additional compensation is included in Box 1 (Wages) of the Form W-2, Wage and Tax Statement, issued to the shareholder-employee, but would not be included in Boxes 3 and 5 of Form W-2.”

For more information, including information about sole shareholder/employee situations, please see: http://www.irs.gov/businesses/small/article/0,,id=203100,00.html

NC County Business Property Tax Listings – “Any individual(s) or business(es) owning or possessing personal property used or connected with a business or other income producing purpose must file a county business property listing by January 31, 2012 unless an extension is filed.” For more information on registering for an account and to obtain forms for filing, please visit the following county Triangle, NC County websites as they apply to you.

Wake County – http://www.wakegov.com/tax/forms.htm
Durham County – http://www.co.durham.nc.us/departments/txad/Business_Personal_Property_Taxation.html
Orange County – http://www.co.orange.nc.us/assessor/BusinessPersonalProperty.asp

NC Employment Security Commission Notices – NC ESC will be sending out notices through the end of the year to address any changes in your unemployment insurance rate for 2012. Be sure to provide these to your payroll service provider to update their systems.

1099 Forms Due 01/31/12 – If you have paid or will pay subcontracted vendors more than $600 in non-employee compensation in tax year 2011, you will need to have a W-9 form on file for each of them in order to issue their 1099 form. The W-9 form will allow you to obtain the information needed to determine 1099 eligibility, their taxpayer ID number, and a current address for mailing. The deadline to submit 1099 forms to the taxpayer is January 31st and the deadline to submit to the IRS their copy is February 28th. Failure to file on time can result in penalties.

The W-9 form can be downloaded here: http://www.irs.gov/pub/irs-pdf/fw9.pdf.

Please also see the following IRS Publication http://www.irs.gov/pub/irs-pdf/i1099msc.pdf.

IRS Virtual Tax Workshop – If you would to obtain more information about your tax requirements, the IRS offers a free virtual workshop for small business owners and self-employed individuals at http://www.irsvideos.gov/virtualworkshop/