Category Archives: Tax Preparation

31st Edition of IRS Corporate Financial Ratios Reports U.S. Corporate Performance

Libertyville, IL, April 12, 2016 — /EPR ACCOUNTING NEWS/ — Schonfeld & Associates offers a valuable addition to business reference resources in IRS Corporate Financial Ratios, a unique reference with saibooksinformation gleaned from over 95 thousand corporate tax returns. As a reliable information source, it can be used in many ways from gathering competitive intelligence to evaluating tax returns before filing. It is an ideal reference for CPAs, controllers, bankers, CFOs, tax lawyers, financial analysts, investment advisors and corporate planners.

The newly available 31st edition of the report contains just released information from corporate tax returns filed for the 2013 fiscal year. Of all U.S. corporations, the greatest number, 15% of the total, fell into the Professional Services sector. Within that sector, over 65% of the firms were profitable. Over all sectors, over 60% were profitable. All sectors except for real estate and holding companies had a majority of profitable firms.

One major accounting firm has used IRS Corporate Financial Ratios to develop a report to accompany delivery of the corporate tax return, which both enhances service to existing clients and can serve as the basis for additional assignments. Even the IRS, as well as some state agencies, uses it for tax and compensation audits. It may also be used in forensic accounting such as for estimating damage claims in lawsuits.

NoComps

IRS Corporate Financial Ratios is a statistical reference containing 76 key financial ratios for companies in each of over 250 NAICS industries. Based on actual tax records of the Internal Revenue Service, it is a comprehensive and authoritative source of corporate tax information and financial ratios. It is an essential book for anyone who wants to analyze tax returns in a serious way, do competitive research or perform self-audits.

IRS Corporate Financial Ratios provides clear benchmarks of financial performance. Included are: Turnover Ratios, such as inventory sales turns and inventory cost turns, Expense Percentages, Employment Percentages, such as officer compensation to PBIT, Profitability Percentages, such as gross, operating and net margin, Liquidity Ratios, such as days receivable and days payable and many more financial measures of performance.

For each industry, ratios are shown for the overall industry and for companies in four asset size classes. Within each size class, a complete set of 76 ratios is shown for both profitable companies and companies with losses. The format of the book allows comparisons so that ratios which distinguish profitable firms are immediately visible, a real aid to improving financial management.

IRS Corporate Financial Ratios is useful in developing budgets and financial plans. Besides being available in printed or PDF format, users can purchase an Excel template, IRS-CALC, with all the report data included. For any firm, tax return information can be entered, ratios calculated automatically and compared to industry norms and printed in reports.

IRS Corporate Financial Ratios includes an extensive introduction containing definitions with an explanation of how to calculate and interpret each financial ratio. A complete industry index is provided.

IRS Corporate Financial Ratios is published annually by Schonfeld & Associates based on the most current corporate tax return information available from the U.S. Internal Revenue Service. It is a unique, useful reference that belongs on the bookshelf or in the computer of every financial manager. The current 31st edition is available for $225 directly from Schonfeld & Associates, Inc., 1931 Lynn Circle, Libertyville, IL 60048. IRS-CALC, the Excel spreadsheet template, is available for an additional $100. Call for more information or to place an order at 800-205-0030. Visit the Corporate Financial Ratios area of expertise on the corporate web site where a secure order can be placed for immediate download or hard copy delivery.

Contact-Details:
Carol Greenhut,
cgreenhut@saibooks.com,
800-205-0030

 

Via EPR Network
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ManagePLUS Gold™ lets QuickBooks Users Allocate Overhead Expense with Drag-and-Drop Ease…and Spreadsheet Accuracy

The new release of ManagePLUS Gold™ for QuickBooks, from Flagship Technologies, Inc. (www.goflagship.com) lets users allocate expense from cost- and support-center classes and accounts to profit center classes, using a visual drag-and-drop approach.

Many businesses and nonprofit organizations use the classes feature of QuickBooks to track revenue and expense for the departments or activities of the organization—its cost centers, support centers, and profit centers, such as Office and Administration, Packing & Shipping, or Manufacturing. They set up classes to represent these, and apply those classes when entering transactions to identify income and expense with specific departments or activities.

This is all part of a cost accounting technique known as activity-based costing (ABC), the goal of which is to determine whether each income-producing area of the business—each profit center—is profitable. To get this done, the “overhead” expense accumulated for the organization’s cost centers must be allocated among profit centers on some reasonable basis.

Using QuickBooks by itself, allocation is anything but simple. It requires making journal entries or using “zero-dollar checks”, and there’s no way to automate the calculations involved. In fact, most users export transaction totals from QuickBooks to a spreadsheet, do the allocation calculations there, then manually enter the results as journal entries in QuickBooks. The entire process is difficult and offers plenty of opportunities for making errors.

ManagePLUS Gold overcomes all of these problems. With a couple mouse clicks, it retrieves transactions from QuickBooks and totals the amounts available for allocation from each class to other classes. Users then build allocation formulas visually by dragging a class onto the other classes to which it will be allocated. (The allocation formulas can be re-used in subsequent accounting periods, so the job is even faster and easier the next time.)

Because accuracy is just as important as ease of use, ManagePLUS Gold supports allocation based on “management quantities” the user has associated with individual classes, as well as on a percentage basis. Management quantities can be any physical or dollar amount related to the activity–things like labor hours, tons/gallons/bushels produced, miles driven, dollars of direct expense, etc. The result is spreadsheet-like allocation capability but without building spreadsheet formulas, exporting accounting data, or making journal entries.

Once allocations have been built, with a couple more mouse clicks the user can prepare a profit and loss report for any class, showing direct revenue and expense as well as the amounts that have been allocated to it.

But that’s not all. The new version 3.1 of ManagePLUS Gold adds the ability to send allocation transactions to QuickBooks, with a single click of the mouse. So now users can choose whether to get class profitability reports in ManagePLUS Gold or in QuickBooks, and have the option of doing anything with the allocation journal entries that they can do with other QuickBooks transactions—create customized reports, export them, include them in backups, etc.

Allocation capabilities are the “tip of the iceberg” with respect to ManagePLUS Gold’s features. Here’s a few of the other things it does:

– Lets users associate “extra” data with accounts and classes, and manages that data separately for each accounting period.

– Uses the “extra” data to automatically add management information and per-unit statistics to reports—things like average cost per unit of sales or per unit of production for each class.

– Provides advanced quantity handling and storage in QuickBooks transactions by supporting entry of two quantities per transaction, such as the weight and count of items bought or sold.

– Provides specialized reporting capabilities for the two-quantities feature, including automatic statistics like weight per each, count per weight, cost per weight (pound/ton/etc.), and cost per each.

– Supports advanced, automatic unit of measure labeling on reports.

ManagePLUS Gold sells for $149 per single-user license and is compatible with Microsoft Windows versions of the Pro, Premier, and Enterprise editions of QuickBooks, 2004 and later, including U.S., UK, and Canadian releases. A 30-day free trial is available to download from the product’s Web page: http://www.goflagshipcom/products/mphome.htm.

Via EPR Network
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ManagePLUS Gold™ for QuickBooks Supports Farm and Ranch Enterprise Accounting

QuickBooks accounting software is popular with farmers and ranchers because it offers a lot of power and flexibility, while being easy to use and having wide support among CPAs, tax preparers, extension educators, and other professionals.

The classes feature of QuickBooks is popular in agriculture too, because it allows tagging income and expense transactions as belonging to specific departments or enterprises within the farm or ranch business: fertilizer for the Corn class, mineral supplement for the Beef Cow class, combine fuel for the Harvest Services class, feed mill repairs for the Feed Processing class, and so on–often referred to as cost centers and profit centers. Using classes in this way is part of a cost accounting technique known as activity-based costing (ABC), the main goal of which is to isolate the income and expenses associated with major activities of the business, to determine whether each income-producing activity—each profit center—is profitable.

For ABC to yield useful management information, the expenses accumulated for cost centers (often referred to as “overhead”) must be allocated among profit centers on some reasonable basis. For example, expenses of the Harvest Services class would be allocated among the profit center classes in which Harvest Services get used: the farm’s crops, like Corn, Soybeans, and Wheat.

Using QuickBooks by itself, allocating expense to several classes is anything but simple. It requires making journal entries or using “zero-dollar checks”, and there’s no way to automate the calculations involved. In fact, most users export transaction totals from QuickBooks to a spreadsheet, do the allocation calculations there, then manually enter the results as journal entries in QuickBooks. The entire process is difficult and offers lots of opportunities for making errors.

ManagePLUS Gold, from Flagship Technologies, Inc. (www.goflagship.com) overcomes all of these problems. With a couple mouse clicks, it retrieves transactions from QuickBooks and totals the amounts available for allocation from each class to other classes. Users then build allocation formulas visually by dragging a class onto the other classes to which it will be allocated. (The allocation formulas can be re-used in subsequent accounting periods, so the job is even faster and easier the next time.)

Once allocations have been built, with a couple more mouse clicks the user can prepare a profit and loss report for any class, showing direct revenue and expense as well as allocated amounts. For example, a profit and loss report for the Corn class would include the amounts allocated to it from Harvest Services and from other cost centers.

But that’s not all. The new version 3.1 of ManagePLUS Gold adds the ability to send allocation transactions to QuickBooks with a single click of the mouse. So now users can choose whether to get class profitability reports in ManagePLUS Gold or in QuickBooks, and have the option of doing anything with the allocation journal entries that they can do with other QuickBooks transactions—create customized reports, export them, include them in backups, etc.

Allocation capabilities are the “tip of the iceberg” concerning ManagePLUS Gold features that are used in farm and ranch businesses. Here are some of the other things it does:

    – Provides advanced quantity handling for QuickBooks transactions, by supporting entry of two quantities per transaction, such as the weight and count of livestock bought or sold.

    – Provides specialized reporting capabilities for the two-quantities feature, including automatic statistics like average weight per head, average price per pound, average price per head, and so on.

    – Supports advanced, automatic unit of measure labeling on reports.

    – Lets users associate “extra” data with accounts and classes, such as crop acreage, bushels harvested, or the number of head of livestock involved, and manages that data separately for each accounting period.

    -Uses this “extra” data to automatically add management information and per-unit statistics to reports—things like average herbicide and fertilizer cost per acre, average feed cost per head of livestock, and other per-unit management factors.

ManagePLUS Gold for QuickBooks sells for $149 per single-user license and is compatible with Microsoft Windows versions of the Pro, Premier, and Enterprise editions of QuickBooks, 2004 and later, including U.S., UK, and Canadian releases.

Via EPR Network
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FormCalc Does Spreadsheet-like Calculations on QuickBooks Invoices, Estimates, Purchase Orders and More

For almost as long as QuickBooks has been on the market, QuickBooks users have wanted for the ability to have across-column calculations and column totals on Invoices, Estimates, Purchase Orders and other forms. FormCalc for QuickBooks, from Flagship Technologies, Inc. (www.goflagship.com), is now available to fill that need.

FormCalc lets users set up calculations which add, subtract, multiply, or divide numbers in two columns and put the result in a third column; or do math on two columns and multiply the result by another numeric value before writing it to a third column; or display a count of unique items in a column, in the Description field of any line; or provide column subtotals or totals.

The user controls where column subtotals and totals appear by identifying certain QuickBooks Items as “trigger items”. When FormCalc encounters a line containing a trigger item, it puts the column subtotal or total on that line.

Users can define any number of calculations to apply to various columns on a form, and apply all of them at once by pressing a hotkey. Also, users can define as many as ten sets of calculations. So if different calculations are needed on Invoices and on Purchase Orders, a separate set of calculations can be defined for each.

Maybe the most unique thing about FormCalc is that it works directly on the QuickBooks form, in real time, so users immediately get to see the results of calculations before saving or printing the form. There’s no need for a separate step of exporting the form’s data to do calculations outside of QuickBooks, then re-importing the data again.

What kinds of things are FormCalc users doing with it? They are calculating per-item and total shipping weights for Invoices, totaling estimated labor requirements on job Estimates, calculating board feet for lumber pricing on Invoices, showing prices in two different currencies, totaling invoiced alcohol sales quantities to meet requirements for liquor taxation record keeping, totaling the number of shirts of each size (S, M, L, XL) on an Invoice, and much more.

FormCalc for QuickBooks is priced at $99 for a single-user license, with lower per-license pricing for multi-user licenses. FormCalc is compatible with Microsoft Windows versions of all QuickBooks editions (Simple Start, Basic, Pro, Premier, Enterprise, etc.), and also with all international editions (U.S., UK, Canadian, and Australian).

Via EPR Network
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How to Print a W-2 Form – YouTube Video

W2 and 1099 software provider, Halfpricesoft.com, just released a new YouTube video “How to Print a W-2 Form” for small business owners and HR managers who are facing the Jan 31  tax forms mailing deadline. The Video teaches users how to prepare and print W-2 forms themselves step by step with ezW2 software.  User can view this video at https://www.youtube.com/watch?v=_ovH2ug5XkM

Founded in 2003, Halfpricesoft.com has established itself as a leader in meeting the software needs of small businesses around the world with its payroll software, employee time tracking software, check printing software, w2 software and 1099 software. It continues to grow with its philosophy that small business owners need affordable, user friendly, super simple, and totally risk-free software.

“Small business owners shouldn’t be spending hour after hour setting up and learning to use payroll tax software,” said Halfpricesoft.com founder Dr. Ge. “We designed ezW2 to be powerful, yet simple, so anyone can use it, and ezW2 2011 is the most easy-to-use version to date.”

ezW2 software supports forms W2, W3, 1099-misc and 1096. It can print the SSA-approved laser substitute forms of W-2 Copy A and W-3 on white paper. So with ezW2, users will not need to order the expensive red-forms for W-2 return.

Available from just $39 per installation, ezW2 software has remained at that affordable price since its initial release in 2006. Equipped with an intuitive graphical user interface, the W-2 and 1099-misc printing software is designed to be easy to use even for people without an accounting background or with little computer experience.

EzW2 is compatible with Windows 7 system, 32-bit or 64-bit. It can run on Windows XP, Me, 2003, Vista system or MAC machines installed with Virtual Machine or Parallel . Customers can download this W2 and 1099 application online at http://www.halfpricesoft.com/w2-software-free-download.asp and sample the software without charge or obligation, allowing them to thoroughly test drive ezW2 before purchasing.

For more information about ezW2 and Halfpricesoft.com, please check this 1099 & w2 software at http://www.halfpricesoft.com/w2_software.asp.

Via EPR Network
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The New Year Brings New Work for Umbrella Company Contractors

The umbrella company sector in the UK is celebrating after recent industry research revealed that contractors could soon see an increase in demand for their services. The news, which was revealed in The Recruitment and Employment Confederation’s (REC) Report in Jobs for December 2011 revealed a fall in the amount of permanent appointments that month. This information comes less than a month after the umbrella company Tarpon predicted that 2012 would be a very positive year for those in the umbrella company industry.

A spokesperson for Tarpon comments: “In December 2011, we announced that we believe that the new year would bring in a lot more opportunities for umbrella companies and their contractors, because of the addition of an extra £1 billion injection in the Regional Growth Fund (RGF), and so the REC’s report is really a fantastic indicator for both umbrella companies and contractors over the next 12 months.”

According to the REC, temporary billings also fell slightly last month, marking the first time they have decreased since July 2009. This news, combined with the decline in the number of permanent appointments falling in December 2011, and the recent announcement by the Royal Bank of Scotland that revealed that the Scottish business also grew in December, means that employers will be relying on umbrella company contractors and their services over the coming months.

The spokesperson for Tarpon continues: “Obviously, as an umbrella company the news that there has been increased growth in certain business sectors and therefore, the possibility of increased demand for our services is really fantastic to hear, especially at the beginning of the new year. While we did say that we believed that 2012 would be the year that more businesses and individuals would look to umbrella companies and their contractors for reliable, high-value and excellent service, it’s still an absolute delight to see that our prediction appears to be coming true that at the very beginning of the new year.”

About Tarpon:
Tarpon is an umbrella company specialising in contractor tax efficiency, enabling contractors to maximise their income and streamline their admin.

Via EPR Network
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1099 Preparation Software targeting 2011 Tax Forms Released by WorldSharp for $89

WorldSharp Technologies, Inc. today announced the availability of the 2011 version of the WorldSharp 1099 Preparation System. It is shipping with the new form changes and the IRS electronic reporting and correction specifications for 2011. Forms and corrections for past years all the way back to 1995 may also be processed.

The system now has even easier importing capabilities. When ordered, the software can be downloaded or shipped on CD. Items can be entered using two different modes of data entry or the data can be imported from files of other computer applications or spreadsheets. The WorldSharp customer support staff is available to help customers import their data and electronically file their returns. WorldSharp also provides the optional service to print, mail and e-file for their customers.

Printing can be on pre-printed forms or blank paper. The system can print the form with the data and e-file, so there is no need to purchase forms. The system prints and electronically reports 1098, 1098-C, 1098-E, 1098-T, 1099-A, 1099-B, 1099-C, 1099-CAP, 1099-DIV, 1099-G, 1099-H, 1099-INT, 1099-LTC, 1099-MISC, 1099-OID, 1099-PATR, 1099-R, 1099-S, 1099-SA, 3921, 3922, 5498, 5498-ESA, 5498-SA, W-2G and optionally 1042-S forms.

Bobby Anderson, president of WorldSharp Technologies said that in the past, the system has been primarily used by banks and financial institutions, which is WorldSharp’s main marketing focus. However, in order to make the quality software package available to small businesses and companies in other industries, WorldSharp lowered the price from $500 to $89.95. A 2-license version is $159.95 and a 10-license version is $249.95. Many vendors charge extra for electronic reporting. So, WorldSharp decided to provide its Premium Package which includes all of the forms (except 1042-S) and electronic reporting without additional charges. A system which includes 1042-S support is available for $189.95.

Unlike other systems, the WorldSharp 1099 Preparation System allows users to process any kind of 1099 form and has no restrictions on the number of forms processed or the number of companies processed.

For additional information about the 2011 version of the WorldSharp 1099 Preparation System, contact customer support at (575) 445-2504 or visit http://www.WorldSharp1099Software.com. Inquires may also be addressed to info@worldsharp.com.

Via EPR Network
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UK Tax Investigations On The Increase

HM Revenue & Customs (HMRC) is under huge pressure to increase tax receipts and reduce tax leakage. As a result, HMRC has a growing appetite for launching investigations where it considers there is a reasonable possibility of collecting under-declared tax.

Intensive bursts of compliance activity are targeting business sectors considered to be high risk, and HMRC is sharing information internally more effectively than ever before, thus increasing its chances of identifying potential anomalies in taxpayers’ affairs. “The tax authority has created dedicated common interest teams, such as a unit focused on high net worth individuals and offices which deal exclusively with large businesses,” explains Valerie Watson, Moore Stephens tax partner who has assisted many clients on tax investigations. “Non-domiciled individuals taxed on the remittance basis are now handled by one tax district, again enabling easier cross-referencing and sharing of information.”

Tax inspectors may also be making use of new media, such as the internet, to identify individuals with valuable assets (such as holiday properties that are being let out for income) or undeclared profits (for example, from trading through internet auction sites).

New information sharing agreements between national tax authorities are also having an impact. Following the Tax Information Exchange Agreement between Liechtenstein and HMRC, the details of UK-resident taxpayers who hold accounts or assets in Liechtenstein will be passed to HMRC. “This goes hand-in-hand with the Liechtenstein Disclosure Facility”, says Valerie, “which provides an opportunity for UK taxpayers to declare any unpaid tax voluntarily in exchange for reduced penalties and immunity from prosecution.”

Another notable example that reflects the changing times is the agreement reached between the UK and Switzerland whereby the Swiss banks will levy withholding tax on UK taxpayers’ bank accounts held in Switzerland and pass the sums concerned to HMRC via the Swiss tax authorities. They will do so without identifying any taxpayers, but this nevertheless represents a marked change in attitude by the Swiss Finance Department.

Specific events can also trigger tax investigations, as Valerie explains: “HMRC is currently investigating approximately 500 UK-resident holders of HSBC accounts in Switzerland, using data passed on by an ex-employee. HMRC has been using this data to open Code of Practice 9 investigations – which relate to cases of suspected serious fraud – without apparently screening to check whether taxpayers have already made appropriate disclosures. HMRC’s new Offshore Coordination Unit has started contacting the remaining account holders to offer them the opportunity to make a disclosure.”

This highlights the fact that individuals and businesses can find themselves subject to a tax investigation without there necessarily being any actual wrongdoing. However, given the complexity of the current tax system and the scope for differences of interpretation, any detailed HMRC investigation stands a reasonable chance of finding some element of under-declared tax somewhere in the affairs of an individual or a business.

Via EPR Network
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EzPaycheck Payroll Software Makes It Easier to Start Computerized Payroll For Small Business

Changing from running payroll by hand to computerized payroll can be quick and painless. Small business-focused payroll software developer Halfpricesoft.com announced the launch of new improved ezPaycheck payroll software and small business owners can get a free, 30-day trial by downloading ezPaycheck software from http://www.halfpricesoft.com/payroll_software

This trial version contains all of the features and functions of the full version, except tax form printing, allowing customers to thoroughly test drive the product. Once customers are satisfied that ezPaycheck 2011 will meet their needs, a license key can be purchased for $89 per installation to activate the software for unlimited use.

“No two small businesses or non-profits are exactly the same. They all have different needs and requirements,” Dr. Ge said. “ ezPaycheck payroll software is so flexible that it easy manages any combination of incomes, deductions, taxes and benefits, even commission payments, restaurant tips, local special taxes, and churches and non-profits.We hope this 30-day free test drive will open ezPaycheck payroll software to more small businesses.”

ezPaycheck payroll software is loaded with intelligent, intuitive features, but not burdened by complicated suites of expensive applications small businesses will never use or need. The software is ideal for owners of small to mid-sized businesses, and was designed and engineered for ease-of-use by those who have only basic computer skills and little accounting know-how.

Despite its simplicity and ease of use, business owners should not mistakenly think ezPaycheck 2011 is short on features. ezPaycheck 2011 is packed with all the features a small business needs to run payroll quickly and easily, including:

– Prints payroll checks on blank computer checks or preprinted checks.

– Automatically calculates Federal Withholding Tax, Social Security, Medicare Tax and Employer Unemployment Taxes.

-Includes built-in tax tables for all 50 states and the District of Columbia.

– Creates and maintains payrolls for multiple companies, and does it simultaneously.

– Supports Daily, Weekly, Biweekly, Semi-monthly and Monthly payroll periods. Features Report Functions, Print Functions, and Pay Stub Functions.

– Support tax forms W2, W3, 940 and 941.

Priced at just $89 per installation, ezPaycheck payroll software is affordable for any size business. Small Businesses looking for ways to save money on payroll processing and tax reporting can try out ezPaycheck payroll solution free for 30 days from http://www.halfpricesoft.com/index.asp, with no obligation and risk.

To get more information about how halfpricesoft.com and ezPaycheck payroll software are helping small businesses achieve a faster and easier method of handling their payroll needs, visit the site at: http://www.halfpricesoft.com/index.asp.

Via EPR Network
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Halfpricesoft’s new ezPaycheck payroll software provides great value for small businesses by automating payroll processing and eliminating errors in tax calculations

Cost is rising, overseas competition is encroaching, and margin is being cut. In this challenging environment, how to increase business efficiency is critical for any company. The new edition of ezPaycheck payroll software can help small businesses deal with the payroll taxes processing in a stress-free way and enables companies to focus on core activities.

The latest edition is with the new Year 2011 Form 941. Other new features of ezPaycheck 2011 payroll application include Customizable Payroll Reporting Feature, Auto-fill Paycheck Data Feature, Customizable Tax and Deduction Features, Employee List Export Feature, Income tax rate updates and Tax form updates, which make the 2011 edition more powerful and flexible than ever.

Halfpricesoft is a leading payroll tax software solution provider for small businesses, non-profits and accountants. ezPaycheck software is designed to help keep small companies payroll operations running smoothly and efficiently. The user-friendly design make is ideal for use by non-accountants with minimal computer skills. However, even accountants like it because it is so flexible and supports unlimited accounts with one flat rate.

“Small business owners have enough to do without having to manually calculate wages,” said Dr. Ge, founder of Halfpricesoft.com. “We created ezPaycheck to free up time for more important tasks and simplify the lives of business. The tedious chore of calculating payroll taxes no longer needs to be a concern for small business owners.”

ezPaycheck reduces payroll costs
Priced at just $89 per installation, ezPaycheck is the most Affordable and flexible payroll accounting software in the industry. And ezPaycheck can supports multiple companies and unlimited checks with no extra cost.

ezPaycheck saves time for business owners
Once employee information is set up, including pay rates, dedutions and tax options, ezPaycheck automatically calculates payroll taxes. And ezPaycheck also generate the W-2 forms based on payroll data.

ezPaycheck is easy to use, with no learning curve to get started
No accounting skills or computer background are required to use ezPaycheck. The software’s graphical interface is highly intuitive and guides users step-by-step through all processes.

Additional features supported by ezPaycheck include:
– Capability for adding local tax rates
– Automatically calculate tips, commissions, federal withholding tax, Social Security, Medicare tax, employer unemployment taxes, and other pre-tax and post-tax deductions
– Form 940 and Form 941 printing
– Supports forms W-2 and W-3
– Calculate and print daily, weekly, biweekly, semimonthly and monthly payroll periods
– Use check-in-middle, check-on-top, or check-at-bottom check stock formats
– Able to print MICR numbers on blank check stock to save on pre-printed checks

Small Business Owners can try ezPaycheck 2011 payroll tax solution without cost or obligation
ezPaycheck 2011 can be downloaded at http://www.halfpricesoft.com/payroll_software_download.asp for free and tried for up to 30 days to ensure the software meets the customer’s needs before purchasing. The free download includes all features of ezPaycheck 2011, except check printing. For full, unlimited use customers must purchase a license key.

To make sampling ezPaycheck 2011 even easier, the free download includes a sample database. Customers do not have to waste time entering employee data before sampling the software’s many features.

User can purchase ezPaycheck 2011 software online at http://www.halfpricesoft.com/index.asp, and receive the license key immediately after the transaction is done.

Or check the video ezPaycheck Made Your Payroll an Easy Job
http://www.youtube.com/watch?v=JISurtSXoZ0

Via EPR Network
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Tax Refunds Help Americans Pay Down Debts, Get Caught Up On Bills, Or Simply To Make Ends Meet

Millions of Americans count on their tax refunds each year to pay down debts, get caught up on bills, or simply to make ends meet. With an estimated 1.5 million personal bankruptcies to be filed in 2011, bankruptcy lawyers around the country are being asked the same question: “What will happen to my tax refund if I declare bankruptcy?”

Income tax refunds are basically interest-free loans to the government, and are therefore considered assets of debtors who declare bankruptcy. The trustee assigned to your case may be able to seize your income tax refund, depending upon two main factors: first, what type of bankruptcy you file, and second, whether your refund is fully  exempted.

TAX REFUNDS

•  According to the IRS, the average tax refund for 2009 was $3003 per person.

•  Early filers usually get larger refunds.

•  There were $1.2 trillion in personal taxes in the 2009 tax year.

The two main types of personal bankruptcy cases are Chapter 7 and Chapter 13. In a Chapter 7 case, debtors are essentially allowed to walk away from their debts.

In a Chapter 13 case, debtors must repay their unsecured debts over 3 to 5 years.

Most Chapter 7 cases are considered “no asset” cases, and for those assets that the debtor does possess, there are federal and state exemption laws, which prevent the bankruptcy trustee from seizing and selling the debtor’s property.

Just like the debtor’s household goods, clothing and automobile, in most Chapter 7 cases the debtor’s tax refund can be fully exempted, which means the bankruptcy trustee cannot even consider seizing the refund. However it is very important to use the full and correct exemptions to protect the refund.

BEFORE YOU FILE BANKRUPTCY

•  Tweak your withholdings to produce more immediate income throughout the year, which will reduce your refund return at the end of the year

WHEN YOU FILE

•  You must disclose all of your assets and all of your debts, and your tax refund is an asset. Bankruptcy fraud is a serious crime.

•  Maximize the bankruptcy exemptions on your refund and in most cases, you will be able to keep it.

AFTER YOU FILE

•  If your refund is exempt, the money is yours to keep.

•  If your return must be surrendered, the trustee in your case will directly notify the IRS, and you will likely never even see the money.

Chapter 13 cases can be a bit more complicated. If you have a confirmed Chapter 13 Plan that requires repayment of only a percentage of your debt, your trustee will likely seize your refund every year over the course of your bankruptcy, using the proceeds to increase the payout to unsecured creditors.  Income tax refunds in Chapter 13 are considered “property of the estate,” so your trustee will want to apply this money toward payment of your Plan.

Via EPR Network
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Deadline Approaching! ezW2 Software Helps Small Business Distribute Forms 1099 and W2 Before Jan 31, 2011

The Clock is ticking! halfpricesoft.com reminds small business owners that Monday, Jan 31, 2011 is mailing deadline for year 2011 Tax season.

Halfpricesoft.com is a leading provider of small business software, including payroll software, employee attendance tracking software, check printing software, W2/1009 software, and barcode generating software. Today Software from halfpricesoft.com are trusted by thousands of users and help small business owners simplify their payroll processing and business management.

Developed by Halfpricesoft.com, ezW2 is simple and robust software that prepares and prints 1099 and W2 forms. Known for its ease of use and affordability, ezW2 is available online at halfpricesoft.com.

“We intentionally engineered this software for business owners who are not professional accountants and tax experts,” said Halfpricesoft.com founder Dr. Ge. “We believe small business software should be simple – stupid simple – so that business owners can focus their time and energy on running their businesses, not trying to figure out how to run these tax reporting software.”

Halfpricesoft.com designed ezW2 2010 with the non-accounting small business owner or manager in mind. Now available with PDF electronic printing, ezW2 software for W2 and 1099 preparation contains several features for cutting paper consumption and reducing waste, making for a more environmentally friendly tax season ezW2 2010 1009 W2 softwareHighlights:

1) ezW2 2010 can print 2 forms on one sheet—using half as many expensive red form sheets
(2) ezW2 2010 eliminates need for W2 Copy A and W3 by laser printing Social Security Administration-approved substitutes on plain white paper
(3) Users save valuable time by eliminating the learning curve—ezW2 2010 is designed to be simple and intuitive, allowing users to get started right away
(4) Users save valuable time by importing employee data and contractor data from csv file – no need for users to enter the data one by one.
(5) Users save even more time by saving form data for later use and modification
(6) Support unlimited accounts with one flat rate
(7) PDF document converting
(8) At $39, ezW2 is among the lowest priced, full-featured software available for small businesses.

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ezW2, Powerful and Affordable W2 1099 Printing Software for Year 2011 Tax Season

Thousands of users love this 1099 W2 preparing, importing and printing software because ezW2 is simple, reliable and affordable. While halfpricesoft.com’s focus has been on small to mid-sized businesses, ezW2 software is also welcomed by accountants because of its flexibility to support data importing & exporting, pdf conversion and unlimited accounts.

Halfpricesoft.com, the provider of business payroll tax software solution, is proud to announce the launch of the new ezW2 2010, a simple, powerful and affordable w2 1099 software which was designed for small businesses and accountants.

“Small business owners shouldn’t be spending hour after hour setting up and learning to use payroll tax software,” said Halfpricesoft.com founder Dr. Ge. “We designed ezW2 to be powerful, yet simple, so anyone can use it, and ezW2 2010 is the most easy-to-use version to date.”

Founded in 2003, Halfpricesoft.com has established itself as a leader in meeting the software needs of small businesses around the world with its payroll software, employee attendance tracking software, check printing software and W2/1009. It continues to grow with its philosophy that small business owners need affordable, user friendly, super simple, and totally risk-free software.

The new ezW2 2010 software is more user friendly and powerful than before with form level help button and PDF conversion feature, which allow users to convert the form 1099’s and W-2’s into PDF format documents. Then user can email them to recipients and employees.

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Businesses Use 1099 Tax Software from W2Mate.com to Generate Ready to Email 1099 1099s in PDF Format

Real Business Solutions (www.W2Mate.com), a leading 1099 software provider, drives cost and time savings for small businesses and 1099 processing services. Through W2 Mate, the 1099 tax solution offered by the company, businesses can generate secure and IRS-compliant 1099 forms in PDF format. The PDF 1099s can then be sent to contractors and recipients instead of paper copies, which delivers tangible money and time-saving benefits to US businesses.W2 Mate software has some of the best 1099 software reviews in the industry.

The PDF 1099 FORMS feature available in W2 Mate makes issuing 1099s to recipients as simple as sending email. No forms to print, no envelopes to stuff, no paper cuts, no postage and no headache. Just enter recipient information, generate a PDF file and email. Says W2 Mate product manager Nancy Walters.

FREE 1099 Software trial of the software can be downloaded from W2Mate.com and evaluated FREE of charge. The 2010 version of W2 Mate supports 2010 1099 forms and 2010 W2 forms for filing in tax year 2011,

W2 Mate was the first 1099 software to introduce the ability to generate secure PDF 1099 forms and PDF W2 Forms. The resulting PDF 1099 forms can be emailed to consenting recipients instead of paper 1099 copies. Emailing 1099 forms saves businesses precious time and money. Large organizations such as banks, factories and universities are currently using electronic delivery of 1099 forms to reduce the costly and labor-intensive process of printing and then distributing these forms by mail.

The PDF files generated by the W2 Mate W2 / 1099 compliance software are encrypted and require a password in order to be opened. This makes sending these files by e-mail or any other electronic means more secure. The electronic version of form 1099 generated by W2 Mate contains all required information and complies with applicable IRS procedures relating to substitute statements to recipients.

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QuickBooks Payroll Alternative from PayrollMate.com provides SMBs and Accountants with High Quality Payroll Software for QuickBooks at an Affordable Price

Real Business Solutions (www.PayrollMate.com), a leading provider of payroll tax products, unveiled today an exciting new feature in its 2011 Payroll Mate payroll software. The professional payroll system now allows users to export payroll data to QuickBooks accounting software. With this new powerful addition Payroll Mate can be used as an affordable, yet powerful, alternative to QuickBooks Payroll.

“The QuickBooks payroll export wizard that ships with Payroll Mate is one of the most sophisticated, yet easy to use QuickBooks export utilities available in the industry. We invested a lot of engineering time to ensure that this new feature would work well for our customers.” says Payroll Mate product manager Nancy Walters.

If you use QuickBooks to manage your business and you’ve bee searching for a payroll software that integrates with QuickBooks, then Payroll Mate is definitely for you. With the advanced features in this payroll solution, SMBs can save a bundle by using Payroll Mate to prepare payroll and track payroll taxes and then post payroll data to QuickBooks at the end of the pay period. Payroll Mate is currently used by accountants, businesses, CPAs, churches, banks, professional tax preparers and payroll service providers.

A free evaluation of the Payroll Mate payroll software can be downloaded from thefree payroll software download page.

Payroll Mate is an excellent alternative to QuickBooks Payroll. Below is a short list of what this payroll software can do:

* Exports Payroll Data to QuickBooks software.
* Exports Payroll checks to Quicken and accounting software like Microsoft Office accounting.
* Supports the following payroll forms: 941, 940, 944, W-2, W-3, California DE-6 , California DE-7 , Texas C-3 , Texas C-4, New York NYS-45, Illinois 941 and Illinois UI-3/40.
* Automatically calculates federal payroll tax and state payroll tax withholding.
* Supports different types of pay periods including weekly, biweekly, semimonthly and monthly.
* Supports customizable income, tax and deductions categories.
* Supports income per mile and per piece.
* Supports fringe benefits.
* Generates comprehensive reports including payroll journal, tax liability and deposit requirement.
* Handle payroll deductions that are exempt from federal and state taxes like 401K retirement plans.
* Exports payroll reports to Excel, CSV and PDF.
* Prints on Laser and Inkjet checks.
* Prints on preprinted red scannable W2 forms and W3 forms.
* Free updates during the tax year.
* One step backup and restore.
* Runs over a network.
* Generates Direct Deposit Files.
* Ability to print MICR checks on blank check stock.

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Bookkeeping Is Imperative For Large And Small Companies

Keeping accurate records and well organized data is important to the financial well being of companies big and small. Good bookkeeping may not directly contribute to the profits of a business, though some bookkeepers would argue this, it important to the to their fiscal well being. Besides the possibility of increasing profits, there are many important reasons to maintain accurate and organized records.

One of the most important reasons to maintain accurate records is in case the business needs to borrow money for an opportunity to grow or for other expenses. Lenders expect to see solid bookkeeping and to fully understand the solvency of a business before granting any loans. Bookkeepers must keep track of the money that the company or small business has, but also be able to determine whether the owner will qualify for funds in the future. Additionally, companies or small businesses that rely on outside financing to survive must regard this as a top priority.

Accurate bookkeeping is also important in generating data for owners and managers to make management decisions, whether this is on a daily, monthly or quarterly basis. Current ledgers will indicate accurately whether a customer is past due and which are carrying balances on their lines of credit. Without this information, the company cannot effectively respond to patterns of late payments or nonpayment of customers. Additionally, these losses over time will eventually hamper a companies ability to stay in business or have enough to grow.

Businesses also use their records to determine their financial stability. They can see if their gross profits are in line with their projections. Large or small business bookkeeping helps owners decide if the prices of their products and services are sufficient to cover their costs. Additionally, this information is critical at tax time. Accurate income and expenditures are a must for a company to figure their tax liabilities for the IRS.

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ezPaycheck, Robust and Simple In-house Payroll Solutions for Small Businesses

Small businesses can now get feature-loaded in-house payroll software, ezPaycheck 2010 from halfpricesoft.com, that is easy to use even for people with no accounting background. This in-house payroll software run on users’ own computers offers more efficiency, security and control than other payroll options for much greater cost savings.

“We believe payroll and tax software should be designed for the non-technical people who are actual end-users,” explains Mark Ge, President and Founder of halfpricesoft.com. “We always keep in mind that our customers are small business owners, not computer whizzes or financial gurus. But that makes them the best possible people to listen to when designing payroll software, so we include them as members of our design team.”

Small business owners love ezPaycheck payroll software because it is simple and flexible to use, handles all their payroll needs and is very affordable. ezPaycheck payroll tax application is designed for use by non-accountants with minimal computer skills. However, even accountants like it because it is so flexible and supports unlimited accounts with one flat rate.

ezPaycheck 2010’s interface is so intuitive and user-friendly that first time users can start calculating payroll and printing paychecks immediately. The long learning curve typically associated with financial software is non-existent with ezPaycheck, even if the user does not have an accounting background.

Main features of ezPaycheck in-house payroll software include:

– Up to date tax tables for all 50 U.S. states, Washington D.C. and federal taxes
– Capability for adding local tax rates
– Automatically calculate tips, commissions, federal withholding tax, Social Security, Medicare tax, employer unemployment taxes, and other pre-tax and post-tax deductions
– Print paychecks using a standard laser printer on blank computer checks or preprinted checks
– Use check-in-middle, check-on-top, or check-at-bottom check stock formats
– Able to print MICR numbers on blank check stock to save on pre-printed checks
– Print signature image on checks for a customized look
– Built-in report functions users can customize
– Calculate and print daily, weekly, biweekly, semimonthly and monthly payroll periods
– Option for masking employees’ Social Security Numbers on check stubs
– Compile and print forms W2s, W3, 940 and 941
– Unlimited free technical support

With license keys starting at only $89 per installation, ezPaycheck 2010 is an affordable accounting payroll and check printing software solution for any business—no matter how small the business is. ezPaycheck 2010 also supports payroll tracking for multiple businesses, making it perfect for accountants and entrepreneurs with multiple businesses.

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ezPaycheck 2010: Powerful Payroll Software Simple Enough for Anyone

Changing from running payroll by hand to computerized payroll can be quick and painless for small businesses. ezPaycheck 2010 from Halfpricesoft.com is an amazingly robust yet easy-to-use payroll software designed for non-accountant business owners.

ezPaycheck 2010’s institutive interface is so easy to understand that even people with minimal computer skills can start running payroll and printing paychecks as soon as it’s downloaded and installed. Users simply select the activity they want to do and the graphical interface walks them step by step through the process as users point and click to make selections and choices. Explanations for each step are clear and easy to follow, with a minimal number of choices on each screen so decisions are quick and easy.

“Business owners should spend their time running their business, not running their payroll,” said Halfpricesoft.com founder Dr. Ge. ‘Yet payroll is a critical component of any business and can’t be ignored. That’s why we engineered ezPaycheck 2010 so that anyone that knows how to point and click with a computer mouse can run it.”

ezPaycheck 2010 payroll software is also simple risk-free to test drive. Business owners can download the free trial software and use the included sample database to explore ezPaycheck 2010’s many features. All the features of the full version are included in the trial version except check printing – so customers can even try the software with their own payroll data. Download the trial version of ezPaycheck 2010 at http://www.halfpricesoft.com/index.asp.

Once the business owner is satisfied that ezPaycheck 2010 is the right solution for their business, they simply purchase a license key – just $89 per installation – to unlock the paycheck printing feature. Customers can have ezPaycheck 2010 completely set up with their own payroll data and run payroll tests before purchasing the license key – so they can be absolutely certain that ezPaycheck 2010 meets their needs.

Despite its simplicity and ease of use, business owners should not mistakenly think ezPaycheck 2010 is short on features. ezPaycheck 2010 is packed with all the features a small business needs to run payroll quickly and easily, including:

– Up to date tax tables for all 50 U.S. states, Washington D.C. and federal taxes
– Capability for adding local tax rates
– Automatically calculate tips, commissions, federal withholding tax, Social Security, Medicare tax, employer unemployment taxes, and other pre-tax and post-tax deductions
– Print paychecks using a standard laser printer on blank computer checks or preprinted checks
– Use check-in-middle, check-on-top, or check-at-bottom check stock formats
– Able to print MICR numbers on blank check stock to save on pre-printed checks
– Print signature image and logos on checks for a customized look
– Built-in report functions users can customize
– Calculate and print daily, weekly, biweekly, semimonthly and monthly payroll periods
– Option for masking employees’ Social Security Numbers on check stubs
– Compile and print federal tax forms 940 and 941
– Unlimited free technical support

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Brookson Introduce New Specialist Services

Brookson have further enhanced their service offering in a number of key areas, with an Overseas Service, Legal Services, Company Secretarial and Tax and Accountancy Services.

Accountants Brookson understand their customers can bring with them a totally unique portfolio of circumstances that affect the way they operate. By providing access a comprehensive range of services that may be needed throughout the journey as a self-employed individual.

The Specialist Company Secretarial Service will assist Limited company customers with the maintenance of statutory records and registers, use of a registered address and a host of other services.

Their specialist tax and accountancy service recognises that everyone has different levels of complexity when it comes to tax and accountancy needs, with their professionally qualified in-house specialists on hand to help. Matt Fryer Tax manager at Brookson comments “This service ensures that Brookson is a “one stop shop” for all customers’ tax and accountancy needs, whether related to their self-employed business or not.”

Brookson’s specialist Overseas Services will be a comprehensive set of services provided to meet increasing demand for advice relating to working outside the UK. This specialist service allows customers to take care of their continuing UK tax and accountancy obligations as well as introducing them to a business partner who will provide a compliant overseas solution. With the current economic climate encouraging more self employed freelance professionals to consider projects outside of the UK, the government is intent on tightening the tax regime covering overseas work, therefore making it even more essential than ever to seek professional advice.

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Easier & Safer Payroll Operations for Small Businesses: ezPaycheck 2010

Small business owners cut payroll time and expenses in half with ezPaycheck 2010 – payroll software designed for the non-accountant. Free 30-day trial available for download.

Small business owners no longer have to toil for hours doing payroll by hand or stare in frustration at payroll software that is complicated and unwieldy. Now small business owners have a payroll solution available that saves time and money without needing an accounting or information technology degree.

ezPaycheck 2010 from Halfpricesoft.com offers all the small business features available in high-end payroll software, but delivers it at an affordable price – starting at just $89 per installation – and with a system designed for the non-accountant.

Doing payroll by hand is risky business. It’s far too easy to make a wrong calculation or other error that will quickly have employees, banks and the IRS breathing down the business owner’s neck. But ezPaycheck 2010 calculates taxes and deductions automatically, eliminating almost all errors. Plus, in-house off-line payroll processing limites access to payroll data so business owners don’t have to worry about someone sneaking a peek into the “books.”

Business owners can save thousands of dollars over hiring an accountant by using ezPaycheck 2010 instead, and ezPaycheck saves hours of frustration over doing payroll by hand. The interface is intuitive and designed to be used by business owners – not accountants. Any user can sit down and start using ezPaycheck 2010 right away, with no learning curve – it’s that easy!

“Small business owners shouldn’t be spending hour after hour setting up and learning to use payroll software,” said Halfpricesoft.com founder Dr. Ge. “We designed ezPaycheck to be powerful, yet simple, so anyone can use it, and ezPaycheck 2010 is the most easy-to-use version to date.”

Business owners can try ezPaycheck totally free for 30 days – without risk or obligation. The full-version software can be downloaded for free at http://www.halfpricesoft.com to start the free trial session. The download contains all the features and functions available with ezPaycheck 2010, so business owners can be confident that it will meet their needs. After 30 days, business owners will have to purchase a license key to continue using ezPaycheck 2010. License keys start at just $89 per installation.

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