ROSYAN BOOKKEEPING SERVICES
Your affordable Bookkeeping & Consultancy Services.
Tel: 202.422.4586 Email: [email protected]
ALL YOU NEED TO KNOW ABOUT THE STIMULUS CHECKS.
|Posted on April 3, 2020 at 4:04 PM||comments ()|
We are aware that these are unprecedented Times and there are a lot of challenges during these Period. We are encouraging you to rise above this Situation and remain confident, that you will come out Stronger, Bigger and Better off.
President Trump just signed off a $2 Trillion Relief Bill, which will come in form of Stimulus Checks to offer Assistance to Millions of American Household, affected by the Corona Virus Pandemic. We are aware that most of us have Questions and we want to enlighten you more about, what in this for us.
The Following are the Basic Things to know about the Stimulus Checks:
It is important to note that if the Income Exceeds the threshold, the Amount will be reduced on a Sliding Scale.
We are available to help you with all the Questions, that you may have , regarding the Stimulus Check as well as any other Question on the Stimulus Package. We are also available to assist you virtually. Call us on 202-422-4586 to set up an Appointment.
It is always our Pleasure to Help you.
IT'S TAX SEASON.
|Posted on January 31, 2019 at 3:59 PM||comments ()|
IRS Begins Accepting Tax Returns on Monday, January 28th 2019.
It's Official; Tax Payers should not worry about their Refund Status being affected by any Happenings within the Government.
It is also important to note that Monday, April 15, 2019 still remains the Individual Filing Deadline for the majority of the Country, though the Deadline in Maine and Massachusetts is April 17 due to the Emancipation Day Holiday.
Important Points to Note:
We are Here to Help you with Organizing your Documents and Getting all your Business Expenses correctly and accurately deducted. This will help to reduce your Tax Liability.
Keep Checking for Weekly Updates and Important Information, regarding your Tax Filing.
Let the Tax Season Begin ......................................................
W-2 AND FORM 1099 FILING DEADLINE IS JANUARY 31ST 2019.
|Posted on January 9, 2019 at 5:47 PM||comments ()|
W-2 AND FORM 1099 FILING DEADLINE IS JANUARY 31ST 2019; Employers & Business Owners Take Note.
Happy New Year. This is to remind All Business Owners/ Employers that the Deadline for filing W-2 and Form 1099 Tax Report with the IRS is January 31st, 2019. This means that you need to ensure that your Employees and 1099 Contractors receive and review their W-2 and 1099s before January 31st, 2019.
It is important to remember that this Act is from The Protecting Americans from Tax Hikes (PATH) Act of 2015 that was passed by Congress in 2015 and became effective since 2016. We had published a Detailed Article on this -
By this New Act, Employers and Small Businesses have January 31st Filing Deadline to submit Forms W-2 and W-3 to the Social Security Administration (Whether you file using Paper Forms or electronically). This New Date also applies to certain Forms 1099-MISC reporting Non-Employee Compensation such as Payments to Independent Contractors. As a Result of this, the filing deadline for filing W-2s and 1099 forms (including Form 1099-MISC) is Every January 31st.
Note to Employers: It is important that Employers become adequately prepared to complete the Year-End Tasks. This means:
• Ensuring that All Independent Contractors fill out a Correct and Updated Form W-9.
• Verifying Accuracy of Employee Information.
• Reporting/Submitting Any Year-End Adjustments as soon as possible.
• Reviewing Year-End Totals for any Discrepancies. There are penalties for Failure to file these Returns or Furnish Correct Statements and these Penalties are not palatable.
The Penalty amounts are reflected below:
• $50/Return – If you file after 30 Days of the Due Date.
• $100/Return – If you file more than 30 days after the Due Date.
• $260/Return – If you do not file corrections or Do not file Required Forms.
At Rosyan Bookkeeping Services, We are committed to helping you with your W-2s, W-3s and 1099 Filings, as well as furnishing you with helpful information regarding your Tax Filings.
Feel Free to Call and Let us know how we can help you.
BEWARE OF GIFT CARD SCAMS.
|Posted on December 15, 2018 at 3:38 PM||comments ()|
Holiday Season is here and it’s the Season of Giving. What Gift do you give, when you don’t know what to buy? Gift Cards, Of Course!!!
The Better Business Bureau (BBB) is warning us of a Gift Card Scam going on at this period. Gift Card Scams are very popular and occur because Gift Cards are left out on the racks unattended.
So, What Can you do to protect you from this Scam? Read on for Tips to guard you against Gift Card Scams:
• Buy Gift Cards from Reputable Stores/Companies that offer Guarantees.
• Grab a Gift Card from the Middle or Back of the Display and not the Front Row. Some Thieves remove Gift Cards from a Display, record the Card Number and put it back on the Display, waiting for a Customer to buy the Card, while checking regularly online for a Dollar Balance to appear, for them to use the Card.
• Inspect the Gift Card Packaging before Purchasing. This helps to avoid tampered peeling. Some Manufacturers have been adding special packaging or scratch off Pin Numbers to prevent thieves from being able to look at the cards and stealing the Numbers.
• Check the Activation Receipt for Matching Numbers and Amounts.
• Only Check the Balance on your Gift Card through the Site listed on the Back of the Card itself, and if there is none, Go to the Website of the Company and look for a link to the Gift Card Page.
Feel Free to Share and Spread the Message against Gift Card Scams. Enjoy your Holidays.
PGCC Career & Internship Fair
|Posted on November 21, 2018 at 11:12 PM||comments ()|
We are Proud to be part of a Part of the PGCC Innovation; Doing what we love to do best. Encouraging, Developing and Mentoring ; Providing Career and Internship Opportunity path. We love what we do and proud to be recognized for this Great Gesture.
Thanks to the Prince Georges Community for featuring us.
RENEW YOUR ITINS.
|Posted on August 17, 2018 at 5:36 PM||comments ()|
More than 2 Million Individual Tax Payer Identification Numbers( ITINs) are set to expire at the end of 2018.
* Tax Payers whose ITIN is expiring and needs to file a Tax Return in 2019 must submit a Renewal Application.
* ITINs that are affected are the ones with the middle digits 73,74,75, 76, 77, 81 or 82. ( For Example: 9NN-73-NNNN) needs to be renewed even if the Tax Payer has used it in the last 3 Years.
*ITINS with middle digits of 70,71,72,78,79 or 80 have previously expired. Tax Payers with these ITINs can still renew at anytime.
* Acting Now to renew ITIN Numbers will help Taxpayers avoid delays, that could affect their Tax Filing and Refunds in 2019.
* As a Reminder, the IRS no longer accepts passports that do not have a Date of Entry into the US as a Stand Alone Identification Document for dependents from a country other than Canada, Mexico or dependents of US Military Personnel Overseas.
* The Dependents passports must have a Date of Entry Stamp, otherwise Additional Documents to prove US Residency will be required.
Read on and Be Enlightened. Feel Free to Share.
Intuit QuickBooks ProAdvisor Training.
|Posted on July 4, 2018 at 2:14 AM||comments ()|
TAX DAY IS APRIL 17 2018.
|Posted on April 16, 2018 at 9:27 PM||comments ()|
The deadline for filing your taxes is fast approaching — this year, The deadline is April 17, 2018.
We all know, that Life can be busy!!! Maybe your taxes are particularly complicated this year, or maybe you just don’t have the time to sit down and sift through the paperwork.
So, what happens if you don’t file your tax return on time?
If you’re getting a refund on your taxes this year, you don’t need to panic — you have until April 17, 2021 to claim your refund (or until October 17, 2021 if you filed an extension by the April 17 deadline). It’s best to file as soon as possible, however, because if you don’t file within that 3-year period, you’ll lose the refund.
If you owe taxes, things get complicated.
First, you’ll be charged a failure-to-file penalty. That penalty is 5 percent of your unpaid tax bill for every month after the April deadline that you fail to pay. The amount can grow to a maximum of 25 percent of your total unpaid bill.
In addition, you will be charged interest on whatever amount you did not pay. The interest rate is the federal short-term rate plus 3 percent with interest compounded daily. That can add up very quickly.
How to File for an Extension on your Taxes.
If you think you might be unable to file your tax return by the April 17 deadline, the best way to avoid fees and penalties is to file for an automatic six-month extension with the IRS using Form 4868. It’s free and pretty easy.
But if you owe taxes, you’ll still need to pay them by the April 17 deadline or penalties, fees and interest will start to accrue.
Form 4868 does not grant the taxpayer an extension of time to pay their tax.
If you owe the IRS money and are having trouble coming up with the money, you have a few options. You can file for an extension of time to pay your tax bill using Form 1127: Application for Extension of Time for Payment of Tax Due to Undue Hardship, but be aware that the laws are very strict about granting such extensions.
* The IRS must receive Form 1127 on or before the date that the tax is due.
* The taxpayer must include a complete statement of all their assets and liabilities at the end of the previous month, as well as an itemized list of money they received and spent the previous three months prior to submitting the extension request.
* The taxpayer must show that the payment of tax would result in “undue hardship.” That means more than inconvenience.
*The taxpayer must show that paying by the due date would result in a serious loss of money and that they don’t have the funds, nor can they raise them through borrowing.
When granted, these extensions usually last 6 months. For more information about extensions to pay tax, visit the IRS website at www.irs.gov.
(You can read more about payment plans and other options for what to do if you can’t pay your tax bill here.)
Ultimately, it is the best and safest idea to file your return by the April 17 deadline or file for an extension. That may be a hassle now, but it could save you a significant amount of financial harm in the future. If you need assistance, please call us as soon as possible.
|Posted on March 29, 2018 at 5:43 PM||comments ()|
It was a pleasure offering Quickbooks Training Services to the finance Team of RCCG Mercy Court, Towson, MD. Great Pastor, Great Receptivity, Great People. When you have a great team, Training is a Breeze.
#quickbooks, #quickbookstraining, #quickbookstrainer, #quickbooksproadvisor, #quickbooksspecialist, #bookkeepingservices.
Tax Season is Still On.
|Posted on February 19, 2018 at 11:55 PM||comments ()|
Do you have all your required Tax Filing Documents?
* Form W2
* Form 1099 - MISC (If you are a Contractor or Independent Employee)
* Form 1099 - G (To show Payment received from Government Agencies, Unemployment Benefits, Alimony, Child Support).
* Form 1095 - To show that you are enrolled in a Qualified Health Plan, which will allow you to get your Premium Tax Credit).
* Form 1098 - To show Payment Received from Interest (Interest Income).
* Profit & Loss Financial Statements (If you are a Business Entity or Corporation)
* Property Taxes paid on Principal Properties.
*Charitable Contribution Statements.( To show Tithes, Offerings and Donations given to Religious Organization)
* All Receipts of Purchases Made during the 2017 Year.
Additional Forms, that you may receive:
a) 1099- INT - To Show Payments received on Interest.
b) 1099- DIV - To Show Payments received on Dividends.
c) 1099- R - To show Pensions and Payouts from Individual Retirements Accounts.
d) 1099-B - To show Broker Transactions and Barter Exchanges.
e) 1099-S - To show Real Estate Transactions.
Businesses may not like sending out Forms 109, but they are required by law to send them out. There are also penalties for failing to issue these Forms. No one wants trouble from the IRS.
Generally, Businesses must issue these forms to any Payee (Other than a Corporation), that receives $600 or more during the financial Year. This is the basic threshold.
Do you need more clarification on any of these Required Documents? Feel Free to reach out to us and we will educate you more, help you reduce your Tax Liabilities and guarantee your Maximum Tax Refund.
- bookkeeping,Tax Returns,QuickBooks,Bank Reconciliations,bookkeeping services,small business (21)
- Budgeting,Accounting,Business Planning (11)
- QuickBooks,Small Business Bookkeeping,Bookkeepers rates,business decisions (15)
- New Year Resolutions (4)
- New Yer Planning (5)
- Balance Sheet (7)
- Balance Sheet Reporting (10)
- Account Setup (6)
- bookkeeping (29)
- Tax Filing (16)
- tax refunds (18)
- Tax Returns (17)
- Accounts Payables (3)
- Accounts Receivables (6)
- Business Budgeting (8)
- Business forecasting (8)
- Inventory (1)
- Online Banking (4)
- Payroll (10)
- QuickBooks Review (6)
- QuickBooks Setup (13)
- QuickBooks Software (11)
- QuickBooks Support (8)
- QuickBooks Training (9)
- Finance Management (4)
- Law of Money (3)
- Money Perspective (3)
- Personal Finances (4)
- Spending Wisely (9)
- Tracking your expenses (13)
- Financial Position (4)
- Tax Preparation (12)
- Cash flow (6)
- Cash flows (4)
- Small Business Setup (5)
- Business profit (9)
- profit (6)
- profit forecast (3)
- profit making (6)
- 2014 standard mileage rates (1)
- 2014 Tax Returns (2)
- 2015 Tax Filing Season (3)
- Business Expenses (10)
- Health Insurance credits (1)
- Fraud (2)
- Online Fraud (2)
- quickbooks (11)
- Wealth Management (2)
- Chipcards (2)
- Credit Card Rules (4)
- EMV (2)
- New Credit Card Rules (3)
- 2015 Tax Returns (3)
- 2016 tax filing season (7)
- Year End (7)
- tax season (9)
- Tax Deductions (10)
- 1099 Tax Filing (2)
- 2016 tax (4)
- 2017 Tax Filing Season (5)
- w-2 (9)
- lower your taxbill (4)
- Tax Bill (10)
- 2016 Tax Filing (2)
- 2016 tax returns (4)
- 2017 tax filing (4)
- credit card expense (2)
- 2017taxes (4)
- 2017TaxSeason (5)
- taxes2017duedate (3)
- Personal development (1)
- Intuit Road Show (1)
- passion (1)
- 401K Contribution Limits (1)
- 401K Retirement (2)
- IRA (2)
- IRS (7)
- 1099 filing (4)
- 2017 Tax Returns (4)
- 2018 Tax Season (5)
- 2018taxes (4)
- 2018taxreturns (4)
- Intuit (1)
- proadvisors (5)
- quickbooksproadvisors (1)
- quickbookstraining (4)
- ITIN Number (3)
- ITINs (3)
- Tax ID (3)
- accounting (5)
- careerdevelopment (1)
- entrepreneur (3)
- youthempowerment (1)
- giftcard fraud (1)
- giftcards (1)
- 1099filing (3)
- 2019taxseason (3)
- w-2s (2)
- 2019taxreturns (2)
- taxes (4)
- taxreturns (4)
- taxseason (3)
- corona (1)
- Coronavirus (2)
- covid19 (2)
- stimuluscheck (4)
- stimuluschecks (6)
- stimuluspackage (5)
- COVID-19 (2)
- Economic Injury Disaster Loan Program and Advance Loan (1)
- EIDL (2)
- loan documentation (1)
- loan documents (1)
- non-profits (1)
- paycheck protection program (2)
- PPP (2)
- SBA Loan (4)
- small business owners (4)
- EIDLGrant (2)
- EIDLloan (1)
- loandocument (1)
- PPPloan (1)
- PPP loan (1)
- bank loan (1)
- bank reconciliation (1)
- reconciliation (0)