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Tremendous Help

by testimonials on January 17, 2010

I am so happy we were introduced to each other — you have been a tremendous help in really showing me the side of business I was never really keen on.  You have made my financial situation much clearer to me, as well as the direction in which I need to, and want to, take my business.

Ashley Moss,

Ashley Moss Events

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Surprisingly Interesting Seminar

by testimonials on January 17, 2010

Dear Jim,
Thanks for inviting me to such a helpful and surprisingly interesting semiar.  You put on a great show and I will be excited to use the spreadsheet!

Andrea M,

Yarnsuperhero, LLC

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Team Member Spotlight – Heather Cipriani

by Bantonelli on January 7, 2010

In our free monthly newsletter’s continuing feature, “Team Spotlight”, we learn a little bit about the members of the Padgett team. Be sure to keep an eye out for it each month!

In the spotlight this month we have Heather Cipriani, Payroll Administrator

  • 3 Favorite Foods - Steak, Cookies, Coffee Ice Cream
  • Top 3 Movies - South Pacific, Field Of Dreams, Willy Wonka and the Chocolate Factory
  • 3 Pet Peeves - Channel surfing, People “sharing” personal cell phone conversations, People who go to extreme measures to get the closest parking space to the door
  • 3 Favorite Characters from history - I’m going with historical film characters – Gregory Peck as Atticus Finch in To Kill A Mockingbird, Spencer Tracy as Father Flanagan in Boys’ Town, Sidney Poitier as Homer Smith in Lilies Of The Field
  • Pick 1: Blue, Yellow, Red or Green - Red
  • Night Owl or Early Bird - Early Bird
  • Best Vacation - Our honeymoon in St. Martin
  • Dream Vacation - Anywhere with a beautiful beach – Hawaii would be fantastic!
  • Scariest thing you’ve ever done - I’m not much of a daredevil, so having 2 babies tops my list!
  • Favorite season - Summer
  • Email, Texting, or Phone Calls - Emailing
  • Favorite Halloween costume you’ve worn - I was a shark, and my husband was the surfing victim
  • Favorite job task - I’m just getting started, and I’ve been enjoying everything so far!
  • Leasst favorite job task - Don’t have any yet!

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1st Quarter 2010 Due Dates

January 3, 2010

January 15:

Individuals: Fourth quarter 2009 estimated tax payments due.

February 1:

Employers: Give your employees their copies of Form W-2 for 2009. File Form 941 for 4th quarter 2009, or annual Form 944. File Form 940 for 2009.
Businesses: Distribute Form 1099 to recipients for 2009.

February 15:

Employees: Submit a [...]

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2010 Standard Mileage Rates Drop

January 3, 2010

The Internal Revenue Service recently issued the 2010 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2010, the standard mileage rates for the use of a car (also vans, pick-ups or panel trucks) will be:

50 cents [...]

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IRS Begins Employment Tax Research in 2010

January 3, 2010

In February 2010, the Internal Revenue Service will begin its first Employment Tax National Research Project (NRP) in 25 years. Business practices regarding employment tax issues may have changed significantly since the last IRS employment tax study in the 1980s, necessitating the need for this study.
Examinations comprising the study will be conducted to collect [...]

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Section 179: A Year-End Decision

January 3, 2010

It generally makes sense to write off eligible equipment using the Section 179 expense option in the year of purchase. You’ll get the tax deduction faster than if you took depreciation over time. However, expensing may not make sense if you’re in a low tax bracket in the year of purchase but expect to be [...]

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Team Member Spotlight – Megan Merante

December 7, 2009
Thumbnail image for Team Member Spotlight – Megan Merante

In our free monthly newsletter’s continuing feature, “Team Spotlight”, we learn a little bit about the members of the Padgett team. Be sure to keep an eye out for it each month!
In the spotlight this month we have Megan Merante, Administrator

3 Favorite Foods -Cheesburger, french fries, milkshake
Top 3 Movies -Raiders of the Lost [...]

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8109 Coupon Days are Numbered

December 7, 2009

It has been a long-standing routine for most small businesses to remit their Federal payroll tax deposits, as well as other tax payments, by taking a deposit coupon to their bank. However, some banks are no longer taking coupons.
In the past year, more than a dozen banks and credit unions have stopped accepting Form [...]

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Worker, Homeownership, and Business Assistance Act of 2009

December 7, 2009

On November 6, President Obama signed into law H.R. 3548, the Worker, Homeownership, and Business Assistance Act of 2009. The new law extends unemployment benefits and includes a number of tax law changes for individuals and small businesses as well. If you would like more information about this new law and how it may affect [...]

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Changing Entities?

December 7, 2009

The end of the year is a good time to consider making a tax entity change. If you’re thinking of switching, talk to us at Padgett (412-816-2228) first to find out if changing makes sense for your business, given the potential tax consequences.
Some changes have few or no tax implications, but others can be [...]

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Multi-State Sales Tax

December 7, 2009

Doing business in multiple states can be complicated. State threshold requirements vary for how frequently returns have to be filed. Thresholds may be based on all sales, taxable sales, sales tax liability or sales and use tax liability.
Generally, once a threshold is passed, you’ll have to file on the more frequent schedule until you [...]

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Team Member Spotlight – Elissa Williams

November 9, 2009
Thumbnail image for Team Member Spotlight – Elissa Williams

In our free monthly newsletter’s continuing feature, “Team Spotlight”, we learn a little bit about the members of the Padgett team. Be sure to keep an eye out for it each month!
In the spotlight this month we have Elissa Williams, Manager Of Business Development.

3 Favorite Foods – Shrimp Alfredo, Pizza, and Chicken LoMein
Top 3 [...]

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Saving Money on Health Insurance Benefits

November 6, 2009

Are your employees contributing to the cost of their health insurance coverage?  If so,  are they doing it with pre-tax or after-tax dollars?
If you are confused by that question it’s likely that you are not using a “Section 125″ program to lower the cost of providing benefits to your employees.
Section 125 refers to the [...]

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Reminder

November 6, 2009

The IRS reminds taxpayers of the special sales tax deduction for car purchases that is available through the end of 2009. A new car, light truck, motorcycle, and even a motor home could qualify – and you don’t have to itemize to get the deduction. There are income limitations, and only tax on the first [...]

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