Dear Friends:
 
January is over and 1099’s have been sent out & now we are working on helping clients prepare for tax season & review their January financials.  January was a very busy month and we look forward to many more!
 
In the last month we have added Albanie, our staff accountant to work with our bookkeeping staff to ensure that the financials are in order.  We also added Linda to help Laura & our Sales & Marketing area and Nierria to assist our staff with general admin duties. 
 
Our Blog Address: http://www.blog.blazejaccounting.com
 
Just some information that I think you can use:
 
Just a reminder:
 
Beginning January 1, 2010, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
50 cents per mile for business miles driven – was 55 cents/mile. 
16.5 cents per mile driven for medical or moving purposes – was 24 cents/mile. 
14 cents per mile driven in service of charitable organizations (no change) 
Note: The rates have gone down – the IRS notes that transportation costs have gone down compared to a year ago.
 
 
General Information:
 
If you received your Employer Tax Rate Notice for 2010 make sure your payroll service was given the updated information. If you haven’t received it, contact the Georgia Department of Labor to get your rate.
 
Are you updating Twitter, Facebook & LinkedIn separately? Try HootSuite – you can update all with the same message, different messages or schedule tweets, etc. Go to www.HootSuite.com for more detailed information.
 
Do you want to send beautiful cards to a client or friend – look at free e-cards from the Museum of Modern Art – www.moma.org/ecards.
 
If you get any W2’s or 1099’s returned & you can’t locate the former employee (make a “reasonable” effort – keep the documents for 4 years.
 
Do you need help understanding how to handle small business taxes? The IRS has put together a virtual workshop: http://www.tax.gov/virtualworkshop – this may help you.
 
Are you looking for a Tax Professional? Blazej & Associates has a number of CPA’s we can refer you to. If you are having IRS issues we can help you there as well.
 
Questions for your Tax Professional:
 
Experience: Does the tax professional have experience in working with similar size & type of businesses? Do they know your type of business?
 
Services: Does the tax professional offer electronic filing?
 
Price: What does the tax professional charge for services? What is their policy on assisting you if the IRS wants to examine your return?
 
References: Ask for a list of clients you can contact.
 
 QuickBooks Training:
 
We offer individual on-site traning & group training that we split into a 3 hour “Overview” class and a 2 day course. Our trainer, Christine McHenry, CPA has taught QuickBooks for a number of years. Our classes are at the North Fulton Chamber of Commerce.
 
The dates are:
Overview Class: February 10 & March 17
Training Class: February 17-18 & 24-25
Call Laura – 404.643.1972 for registration information
 
 An Interview with Kathryn Rookes, Attorney with FSB Legal Counsel
 
Name:
 
Kathryn A. Rookes
 
Official Job Title:
 
Partner at FSB Legal Counsel
 
What are your responsibilities as partner?
 
Primarily, I represent franchise companies, some franchisee side work (individual business owner), but in a transactional setting rather than a litigation setting.
 
And what exactly is franchise law?
 
When you buy a franchise, your franchisor is required to give you an FDD (The Franchise Disclosure Document). It’s the equivalent of a security prospectus. What I do then is review their agreement and disclosure document, highlight areas they need to think about and help them understand their risk and possibly negotiate different terms.
 
So how is that different from entrepreneurship law?
 
With entrepreneurship law, I help them form their entity, prepare bylaws, meeting minutes and stock certificates. And then, I help them with their general contract that they would need to have, be it an advertising contract, supply agreement, etc. Anything that they would need from a legal standpoint.
 
What kind of legal challenges do businesses face?
 
A lot of new business owners don’t realize the legal implications of starting their own business. Everybody is behind the eight ball these days, but I’d love to see business owners a little more aware of what they’re getting into, rather than wake up one day and realize they’re in a hole.
 
How much do you charge for your services?
 
$250-$350 per hour.
 
How is this different from what other firms charge?
 
In a large law firm, you’re getting starting associates, who don’t know even how to find they’re way out of the law office, charing you $400 per hour. And if you get a partner at a larger firm, it’ll cost you $500-$700/hour.
 
How are you able to charge so much less?
 
Let’s look at the FSB Model: Our clients only get partner level attorneys. We’ve eliminated the overhead of maintaining young associates and gone into a virtual environment, thus eliminating the brick and mortar environment costs. There are no mahogany floors, artwork on the walls… we don’t value those trappings. We’re much more down to earth. We’re happy making a living, but we don’t need to make a killing. We’re happy with who we are and what we give our clients and we don’t have to feel guilty about overcharging them. Our clients are getting the partner level experience without all of the costs.
 
What made you decide to start your own business?
 
I was in the corporate world and was attending a lot of meetings that didn’t seem relevant. I wanted to have the ability to do things my own way in my own timeframe and I wanted to be the one making the decisions so I could own my own decisions. The desire to be my own boss, do my own thing, and make my own rules. That’s what it’s all about.
 
So, how do your services relate to Blazej’s?
 
Cheryl is a referral provider that I could use. Nobody wants to do bookkeeping, so she’s a great resource for me to give clients. We can share clients that way.
 
To reach Kathryn for legal information please contact her at 404.735.7370 or rookes@fsblegal.com.

Kathryn was interviewed by: Kate Parham, www.kateparham.com
 
 
Please feel free to share this newsletter with your friends and colleagues.
 
Please join us on LinkedIn (Cheryl Blazej & Laura Buchanan), Twitter (BlazejAccountin) & FaceBook Fan Page (Blazej Accounting & Bookkeeping – with ProAdvisor Logo).
 
The Blazej & Associates Crew
Your Outsourced “In-House” Accounting, Bookkeeping & Office Concierge
http://www.blazejaccounting.com/

*Interviews for this newsletter are

• 50 cents per mile for business miles driven – was 55 cents/mile.
• 16.5 cents per mile driven for medical or moving purposes – was 24 cents/mile. 
• 14 cents per mile driven in service of charitable organizations (no change) 

• Review Paychecks outstanding for more than two pay periods so that voided checks are reflected on 2009 W-2’s.
• Be sure total FITW and SS/Medicare taxable wages reported on quarterly 941’s equal total 2009 W-2’s.

• Have W-2 copies B, C and 2 postmarked or in employees’ hands.
• Have 1099-Misc copies B, C and 2 for IC’s you paid at least $600 for tax year postmarked.
• Postmark 1099-R copies B, C and 2 for pension, retirement, profit sharing, IRA, insurance, or other distribution recipients by February 1, 2010.

Name:   Jennifer Shaffer

What is it that you do at Paychex? 
Technically, I am a Sales Rep for Paychex, so I set up new clients. It’s a role like New Account Manager.

And how many companies do you work with?
Well, Paychex has about 285,000 clients, but I personally set up about 170 each year.

Does Paychex work with small or large businesses?
Usually small, but my partner works for large.  We can take anything. Any size business 1-1,000.

So what exactly does Paychex do?
From calculating payroll and filing tax payments to administering retirement plans and workers’ compensation, Paychex gives its clients relief from administrative hassles so they can focus on their bottom line.

And why is that so important?
Being even 7 cents off of a tax payment can result in a $500 penalty, so it’s very important that everything is on time and everything is filled out correctly.  Basically, we’re recognized by the IRS for tax compliance.  So a business owner could go to any local payroll company, but they might not be bonded and insured if something were to happen.  But at Paychex we take 100% liability, so you’ll never have to worry.

What happens if you don’t file on time?
Eventually they could shut down your business if it got serious enough.  But there are hefty penalties for the less serious offenses.

Well why outsource if it is so important?  Why not hire someone in-house?
With in-house, like QuickBooks, the software itself could calculate wrong and end up making an inaccurate payment.  And if your staffer goes on vacation, they might forget to make a payment.  We automatically move the funds and make the payment so you don’t have to worry about remembering any of that.  Plus, it’s a big administrative burden and a lot more expensive and time consuming.  Payroll can be a huge headache and there is lots of liability.

So how does one go about using Paychex’s services?
Well, I can meet them in person or over the phone.  I’ll apply for new department of labor and revenue numbers for them for free, to get them started.  Basically, we take the tax and administrative burden and wrap our arms around them to keep them away from the IRS.

What is the difference between what you do and what Blazej Accounting does?  Do you need both?
We exclusively handle payroll, returns, W-2s at the end of the year, and we streamline workers comp and health insurance.  But yes, you definitely need both, because Blazej will help with sales tax and books and budgets.  But payroll is extremely complicated, and we do security and Medicare and all the taxes, plus pre-tax help.

 Please feel free to share this newsletter with your friends and colleagues.

Dear Friends:

I would like to thank everyone that has participated in our Lunch & Learn programs this year.  We have been fortunate to have a wide range of wonderful speakers, ranging from CPA’s, Attorney’s, Bankers, CFP’s, Business Coaches and Internet Gurus and of course we couldn’t have done it without North Point Executive Suites – Alpharetta and Lenny’s Subs – Windward Parkway, Alpharetta.  We received nothing but excellent reviews on all our presentations.  We also had door prizes provided by Edible Arrangements in Alpharetta and Gallery Spa in Roswell.

We are looking to have a program in January – more of a panel – to help motivate us in 2010.

In this issue I will take the opportunity to introduce you to our new team members, SSN No-Match Letters Coming, Equipment Purchases, and our Penny-Pinching Tips of the month.

Blazej & Associates has added three new team members, Sheryl Menichino, CPA, Christine McHenry, CPA and Kate Parham to our staff. Sheryl is working on general accounting issues, Christine is our QuickBooks Trainer and Kate is working on Press Releases.  We are very pleased to have them as part of our team!

SSN NO-MATCH LETTERS FROM SSA:

Expect to start getting Social Security No-Match letters from the Social Security Administration again. For awhile now the letters went to the employee only unless the social security number belonged to someone deceased or too young to work.

To check for employee SSN’s on W-2’s that do match SSA records, visit www.ssa.gov/bso/services.htm where you can review and correct mismatches. You can also create and submit Forms W-2c online to correct employees’ names and SSN’s. For further details, visit www.ssa.gov/employer

EQUIPMENT FOR BUSINESS OWNERS:

I recently read an article entitled “Tax Hikes Ahead – 10 Money Saving Moves to Make Before Year End” and one that caught my eye says if you are a business owner or have self-employed income you can buy up to $250,000 worth of business equipment and take a full tax deduction in 2009. To qualify, the equipment must be placed in service by year-end. Then you can deduct the purchase price on your 2009 tax return even if you finance the equipment and don’t start payments until after 2009. Please ask your CPA for direction.

PENNY-PINCHING TIPS:

We can all use “free” deals so I searched the internet to see what may be some great resources – as small business people we can use all the help we can get!

Do you want to take the kids out to dinner – I found that during these times restaurants want to entice people to come in so they are offering “free” kids meals – Look online, in newspapers and for coupons in your mailbox. Check out www.mykidseatfree.com which lists over 5,500 restaurant locations that offer kids eat free specials.

A site with various categories, including business publications, food, samples, etc – www.icravefreebies.com.

An interesting site that has “A Deal of the Day” – www.groupon.com

Coupon Site – www.couponmom.com

There are so many other sites – Let me know of others you use.

SHOPPING IDEAS:

This time of year we are all getting busy with holiday cooking, shopping, helping kids with school, and of course your work and business.

When you know what you want to purchase do your research online, even if you are going to make your purchase at the store. Take a few minutes to compare brands, styles, prices between stores, etc. and use the in store pick up if it’s available to save on shipping costs.

I have found the following sites to use for your research:

www.PriceGrabber.com

www.Dealtime.com

www.Bizrate.com

www.Nextag.com

Happy Shopping!

Please feel free to share this newsletter with your friends and colleagues.

Please join us on LinkedIn (Cheryl Blazej & Laura Buchanan), Twitter (BlazejAccountin) & FaceBook Fan Page (Blazej Accounting & Bookkeeping – with ProAdvisor Logo).

The Blazej & Associates Crew

Your Outsourced “In-House” Accounting, Bookkeeping & Office Concierge

http://www.blazejaccounting.com/