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Remember to schedule your FREE meeting with us to see how we can save you time and money! (520) 241-0371 info@eclconsulting.com |
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Staring in February, ECL Consulting is offering our clients the option of paying their invoices via Pay Pal. Look for a link on your invoice to take you directly to Pay Pal. Save time and money by paying online, securely and easily.
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| February Tax
Deadlines |
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February 10
Employers - Federal unemployment tax. File Form 940 for 2008. This due date applies only if you deposited the tax for the year in full and on time.
Employers - Social security, Medicare, and withheld income tax. File Form 941 for the fourth quarter of 2008. This due date applies only if you deposited the tax for the quarter in full and on time. - Social security, Medicare, and withheld income tax. File Form 941 for the fourth quarter of 2008. This due date applies only if you deposited the tax for the quarter in full and on time.
Small Employers - File Form 944 to report social security and Medicare taxes and withheld income tax for 2008. This due date applies only if you deposited the tax for the year in full and on time.
Certain Small Employers - File Form 944 to report social security and Medicare taxes and withheld income tax for 2008. This tax due date applies only if you deposited the tax for the year in full and on time.
Employers - Nonpayroll taxes. File Form 945 to report income tax withheld for 2008 on all nonpayroll items. This due date applies only if you deposited the tax for the year in full and on time.- Nonpayroll taxes. File Form 945 to report income tax withheld for 2008 on all nonpayroll items. This due date applies only if you deposited the tax for the year in full and on time. |
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Greetings!
Tax time is fast approaching. Follow our tax tips below and get your refund faster than ever. |
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IRS Tax Tip #4 |
Think ahead to how you'll file.
Will you prepare your return yourself or go to a preparer? Do you qualify to file at no cost using Free File on IRS.gov? Are you eligible for free help at an IRS office or volunteer site? For individuals and especially small business ECL Consulting, LLC recommends finding a qualified tax preparer who truly cares about providing the best service, is knowledgeable and will locate all available deductions to reduce your tax and increase your refund. We are happy to recommend qualified and dedicated income tax preparers we work with. Please contact us to locate the best professional for your needs. There are many options to consider. So, give yourself time to weigh them all and find the option that best suits your needs. ECL Consulting can help make filing your taxes easier! We offer services to help you organize your paper and electronic records so gathering the information you need to file your taxes is simpler and less time-consuming. Contact us today for more information. |
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How to Get Your Refund Faster |
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It's tax time! Want your refund faster?
Have it deposited directly into your bank account. More taxpayers are choosing direct deposit as the way to receive their federal tax refunds. More than 61 million people had their tax refunds deposited directly into their bank accounts last year. It's a secure and convenient way to get your money in your pocket faster.
Is it Secure? The payment is secure - there is no check to get lost. Each year thousands of refund checks are returned by the US Post Office to the IRS as undeliverable mail. Direct deposit eliminates undeliverable mail and is also the best way to guard against having a tax refund stolen.
It's also convenient. There's no special trip to the bank to deposit a check!
To request direct deposit, follow the instructions for 'Refund' on your tax return.
Want an even faster refund? Try e-file! Taxpayers who file electronically get their refunds in about half the time as those who file paper returns.
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Ask an Expert |
 Q: What pieces of paper do I need to keep in order to do my taxes?
A: If you keep detailed records of your income and expenses in QuickBooks or other financial software you will still need to provide your tax preparer with certain papers to get the most out of your taxes. Some of these include: - Your W2 or 1099
- Interest Earned in 2009 (from personal and bank accounts)
- Interest Paid in 2009 (Home Mortgage)
- Home Office Deductions (utility bills, record of repairs & maintenance, telephone bills)
- Auto Expenses (mileage record, records of repairs & maintenance) - for vehicles used both for personal and business in 2008.
If you have all your records on paper you will need to compile all your receipts, check stubs, deposit slips and invoice copies that relate to personal and business income and expenses for the year. A good set of records can help you save money when you do your taxes and will be your trusty ally in case you are audited. Most experts believe it's wise to keep most types of records for at least seven years, and some you should keep indefinitely. Contact us for assistance in compiling your paper records and reviewing your financial software to ensure you are getting the most out of your available deductions.
Ever have an accounting, tax, QuickBooks or cash flow management question and didn't know who to ask? Now you can Ask An Expert! Send your questions to askexpert@eclconsulting.com and we will print the question and the answer in our newsletter! No question is too big or too small. | |
Have you enjoyed this newsletter? Have any suggestions for things you'd like to see covered? Have a question for our resident Accounting Expert? Let us know by emailing askexpert@eclconsulting.com.
Each issue will cover different topics and have different features, so watch for us each Tuesday.
Remember, we provide accounting and cash flow solutions for successful companies -- yours!
Eli Larriva
ECL Consulting, LLC
(520)241-0371
info@eclconsulting.com
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