Loggins & Associates, PC

 
 
 
Loggins & Associates, PC
Certified Public Accountants
 
 
 
The Tax TimesJune 2010
Greetings!

I am excited to send to you our updated newsletter.  We've made some changes and hope you will enjoy the new format.  Although the rush of tax season is over, we are still busy preparing returns for those who extended.  Staff members are getting a chance to take some well-deserved vacations, and we are in the process of evaluating new software solutions to help serve our clients more efficiently.
 
We continue to dig deeper into the world of social media.  I hope you will follow links to our Facebook and LinkedIn pages.  If you didn't get a chance to check out our YouTube videos, I hope you will take a moment to click through to those as well.    
 
Be sure to check out the articles below for more tips and information on personal and business taxes, technology, upcoming events and announcements from our office.  We are featuring an article this month on a change affecting businesses resulting from recent health care legislation.  This new laws affects both personal and business taxes in many ways so I plan to give you more information over the next few months.
 
 

Ben Loggins
Fax:  770-692-1984
 
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PERSONAL TAXES
 
Didn't File?  Now What?
If you didn't file a return or failed to file an extension on time, you should still file your tax return, even if it's late.  Filing a past due return is not as difficult as you may think.  You should file your late return regardless of whether or not you can pay the amount due. 
 
Penalties & Interest Add Up FAST 
The failure to file penalty starts at 5% per month of the balance due.  Interest and other penalties also add to the total  amount you owe.  The sooner you file, (even if you can't pay the full amount due) the less you will owe.  The IRS offers payment plan options to assist you with a balance due. 
 
Let Loggins & Associates Help
Assessing penalties and interest is not the only way the IRS uses to collect balances.  If you choose to ignore notices, they may choose to file a substitute return for you based on information they have; they may file a tax lien against your property, and/or levy your wages & bank accounts.  But even then it's not too late to file a return.  Loggins and Associates is available to help you through any situation with the IRS.  We have the knowledge and experience of dealing with a variety of IRS issues and can speak with the IRS on your behalf.  One of our main areas of expertise is negotiating and resolving IRS problems. 
 
 
  
BUSINESS TAXES 
 
Health Care Reform - Hidden Tax Change
1099 Paperwork Nightmare or Tax Credit Dream?
 
There is a small part of the new health care law that will impact all businesses in a BIG way.  This new law will expand to whom and for what you report each year on 1099 Information Returns.  This change will cause the number of 1099s your company sends out to double, triple or even quadruple.  
 
What does health care reform and 1099s have to do with each other?  What does this mean for your  business?  What steps can you take now to make this transition as painless as possible?   
 
 Click HERE for the full story.    
 
 
JUST FOR FUN
 

 
TECHNOLOGY
 
5 Simple Ways to Spring Clean Your PC
 

It's getting warmer and flowers are blooming; it's time for spring cleaning.  Don't forget that your computer may need a little cleaning as well.  Of course you can clean the monitor and use canned air to clean the keyboard, but what about all the internal crud that needs cleaning?  Even normal day-to-day internet use can clutter up and slow down a computer in no time.  After only a few months, your PC is running at a fraction of its original speed.  A little internal cleaning can get it running like new - no screw driver needed.  

·    Move Large Files to an External Drive - Photo, video or music collections take up an incredible amount of space.  You can move these types of files to an external hard drive to free up valuable hard drive space.    

·    Remove spyware, malware and viruses - Spyware is the number one culprit of slow running PCs.  Malware (malicious spyware) and viruses can put your security at risk as well as bog down the processing power of your computer.  There are many options available to scan and remove these types of enemies.  There are several options we recommend:  MalwareBytes (www.malwarebytes.org), AVG (free.avg.com) or (www.avg.com), and Ad-aware (www.lavasoft.com).  All offer a free version with limited features, or a option to purchase a full or Pro version with more automated features.  Beware of scanners that sound similar (Ad-ware), and especially beware of any "pop up" warmings that say your computer is infected.  These are scams that try to "scare" you into buying their product. 

·    Remove Old Documents - You should clean out documents & emails that are no longer needed.  If any documents contain sensitive information (tax-related documents), you should use a digital file shredder to permanently remove them.  If you're not sure about the future need of a document, archive it to an external hard drive.

·    Tune the Registry - In very basic terms, the registry is your PC's personal database; the computer's brain that keeps track of everything (software, data, printers).  Over time, your computer's registry can become bogged down with corrupt and unused data thus slowing things down.  Cleaning is a job for a professional - do not attempt to make any manual changes to your registry - you could cause irreversible damage.  Visit a computer technician or try a trusted software solution like Lavasoft's Registry Tuner (www.lavasoft.com) or Uniblue's Registry Booster (www.uniblue.com) which can identify, clean and correct any errors. 

·    Manage Startup Programs - if you have too many programs running at once, it can slow down your PC.  Some programs start automatically when you start Windows.  Check yours for unnecessary programs by going to Start, All Programs, Startup - right click to delete.  This does not remove the software from your machine, it only prevents it from automatically loading. 

 
  
LOGGINS OFFICE
 
Loggins and Associates  is pleased to announce the addition of Michelle Smith to our accounting support staff.   
 
Michelle has lived in Fayette County for ten years with husband, Sam, and two daughters, Kayla and Meghan.  Before joining Loggins & Associates, she was the accounting manager for a local builder/developer/rental property company.  Her interests include reading, scrapbooking and watching both daughers play soccer. 
 
Please join us in welcoming Michelle to our staff!
 
 
  
 
 June Birthdays
7th -  Judy Law
 
 
 
 
 
 
Loggins & Associates, PC

Certified Public Accountants

1299 Battle Creek Road, Suite 110
Jonesboro, Georgia  30236
Phone:  770-478-7424
 
 
Satellite Offices - By Appointment Only
Lawrenceville     -     Peachtree City     -     Sandy Springs