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Greetings!
Welcome to the latest installment of our firm's e-newsletter, The FKCo Report. Here you will find updates on important or newsworthy items within our firm, about our clients and things going on in the world of accounting and taxation. This allows us to reach out to you, stay in touch and welcome you again to the FKCo Community. We encourage your comments and responses. We look forward to hearing from you!
Respectfully,
Alan, Don & Everyone here at FKCo
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Important Notice for Business Owners:
8109-B Federal Tax Deposit Coupons Eliminated!
 Beginning in 2011, the U.S. Department of the Treasury is eliminating paper Form 8109-B, federal tax deposit coupons. This means you will have to deposit your business taxes electronically.
Failure to make payments using EFTPS online could result in a 10% failure-to-deposit penalty. Information on EFTPS, including how to enroll, can be found at eftps.gov.
Paychex Taxpay service offers an easy solution for EFTPS payroll tax payment and filing, including:
- Quick, automatic enrollment for all federal taxes
- Electronic payment of federal payroll taxes
- Payment of all state payroll taxes & filing of returns
- Accurate and timely tax deposits
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Expensing & Bonus Depreciation Provisions - 2010 Small Business Jobs Act
 With an eye on the economy, Congress has enacted the Small Business Jobs Act of 2010. Signed into law 9. 27.2010, it includes $12 billion in business tax incentives and $14.5 billion in revenue provisions, many of which have retroactive impact for 2010. The bill is labeled a small business bill but reaches larger businesses and individuals as well.
FOR MORE DETAILED INFORMATION, CLICK HERE |
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2010 Health Care Reform Might Effect You
Congress has passed many pieces of legislation in 2010 which change the way a small business has to not only report health care benefits to the IRS, but also disclose certain material items to their employees. With this in mind, we strongly advise you contact your current health care provider to seek information that may impact you and your family.
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Beware of the Fraud!
Don't get taken for a ride
Criminals have been stealing the IRSLogo to persuade people into giving up their financial information. Avoid becoming a victim by following this one basic rule: Never give out your personal information, such as your social security number or your bank account information, in response to an email or phone call (whether from the IRS or any other seemingly important party).
The IRS never communicates via email, nor do any IRS agents call taxpayers asking for personal information. In general, they only communicate by mail. Because these email notices look official, people often don't question them.
Lastly, if you receive a letter that includes an adjustment to your tax return, don't automatically assume the IRS is correct or that your CPA made a mistake. Not all notices that assess additional tax are correct. Always let your CPA see the notice. |
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FKCo Is Looking For An Admin Person
We need someone for tax season only
FKCo is looking for an administrative person to assist with the following duties during tax season:
- Scanning
- Filing
- Tax Return Assembly
- Answering Phones
- Greeting Clients
- Bank Deposit
Hours: Mon-Sat, 10am-3pm
Period: Feb 1-Apr 15, 2011
If you know anyone who would fit this position, we would love to know about them. Please have them contact Jen.
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Take 6 Minutes To Listen
Music Matters!
 As you know the business of music is an enormous priority to everyone here at FKCo. Content like this helps us and the entire music community. Please click on the picture, check it out and then pass it on!
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Thanks for being a part of our FKCo family. It's our pleasure to provide you with the accounting, tax and financial services you need. As always, we're here to help and look forward to hearing from you.
With Warm Regards,
Alan, Don and Everyone here at FKCo
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