Year-End Payroll is Complicated by New/Changed Laws for 2020

Year-end payroll isn’t only about generating a paycheck – it’s an important time to verify forms, employee information, tax changes, your accounting, and all payments, including anything your employees earned that wasn’t part of your regular pay schedule. 

For a company with one or two salaried employees, it can be a pretty straight forward process. The more complex your compensation, the more complex your year-end tasks may be. For example, bonus pay, handwritten checks, and paid time off can complicate your accounting. Especially if you haven’t processed payroll regularly, because of COVID.

This year, the COVID pandemic created more payroll changes than usual that may impact your small business, including:

• The CARES Act
• A new Form W-4
• FFCRA-qualified leave
• Social Security tax deferral
• State and local changes
• And more!

Experts recommend starting year-end payroll in October to process changes, get up to date on new laws, and give yourself extra time meet deadlines. If you’re already behind, Amador Accounting can get you caught up.

Learn more on our website or call Lisa Amador at 734-330-0907.

Is Year-End Payroll Slowing You Down?

If you’re worried about how new payroll laws will affect your business, too busy running your business to take on the accounting, or just need a hand, Amador Accounting is here for your payroll needs, including: 

• Updating payroll software, rates and elections
• Reviewing and updating PTO balances and rollovers
• Verifying wage and contribution limits
• Reporting fringe benefit information
• Verifying tax rates
• Filing forms with the IRS

We know how important accurate payroll accounting is to you and your employees. When you trust your payroll to Amador Accounting, you can rest easy knowing your records are accurate and filed on time. And when you don’t have to worry about payroll laws and forms, you can focus on what matters most to your business: its future.

Learn more on our website!

Are You Prepared for Year-End Bookkeeping?

For a small business, year-end bookkeeping is a way to wrap up the past year, calculate your tax obligation, and reflect on your business needs moving forward. It’s also one of the most notoriously complex and disliked parts of owning a business. Its complexity is compounded by complicated laws that can change from year to year. Failing to keep up with the laws or with the bookkeeping can leave you in debt or in trouble with the IRS. 

Many business owners just starting out plan to do their own bookkeeping to save money, but often find that bookkeeping involves more than they expected. Year-end bookkeeping isn’t as simple as reconciling a checkbook. It is a multi-faceted process that requires a basic understanding of laws that affect your business. 

Before you begin to wrap up this year, it’s important to take an honest look at your bookkeeping habits, needs, and level of comfort with the tasks you’re about to tackle. Ask yourself:

• Am I organizing my paperwork and accounts efficiently every month?
• Am I confident that I understand the tax laws that apply to my business and how to complete the appropriate bookkeeping?
• Do I have time to do this myself, or would it be more beneficial for me to focus on my business and hire a bookkeeper? 

If you’re not sure, visit Amador Accounting or call Lisa Amador at 734-330-0907.

How to Find a Good Tax Specialist in Belleville

Having a hard time finding a good tax specialist in Belleville, Michigan?

Are you worried about compromising your personal information?

What are traits you should be looking for in a good tax professional?

According to the Internal Revenue Service (IRS), you should do the following to ensure you’re working with a professional tax preparer.

1. Check the preparer’s qualifications using the IRS directory.
2. Check the preparer’s history.
3. Ask about service fees.
4. Ask to E-file.

For more tips, continue reading here.

Looking for More Information?

Contact Amador Accounting today! Lisa Amador is the best tax specialist in Belleville, Ann Arbor, Ypsilanti, Saline, Canton and the surrounding areas. If you have a problem and need a solution, Lisa Amador can help you get organized and provide immense value to your business. (734) 330- 0907

Red Flags for the IRS that May Trigger an Audit!

Even if there’s no funny business going on, the IRS may still run an audit on your business. Its best to be prepared as possible, and know what they are looking for, including:

• Making a lot of money
• Failing to report all taxable income received 
• Taking higher than average deductions
• Deducting large charitable donations
• Deducting business meals, travel and entertainment expenses 
• Not reporting a foreign bank account 
• Claiming 100% business use of a vehicle 
• Failing to report large gains from gambling or claiming big losses in gambling
• Claiming the home office deduction 
• Claiming the foreign earned income exclusion 

Nobody wants to be audited! Even if you’ve done everything right, you can still miss important aspects that might lead to an audit. Taxes are confusing! Don’t miss out on the chance to keep your money, get more of it back, and achieve that feeling of safety. When you hire Lisa Amador to do your taxes, she won’t miss a thing. 

Tax specialist in Belleville and the surrounding areas

Contact Amador Accounting today! Lisa Amador is the best tax specialist in Belleville, Ann Arbor, Ypsilanti, Saline, Canton and the surrounding areas. If you have a problem and need a solution, Lisa Amador can help you get organized and provide immense value to your business. (734) 330- 0907 

IRS Notices: What to Watch Out For!

Do you receive robo calls for offers that sound too good to be true?

Have you or someone you know received a phone call regarding fictitious tax bills and demands to pay by purchasing a gift card?

Are you receiving phone calls from someone telling you they’re with the IRS?

How to Know It’s Really the IRS Calling

According to the IRS, “they will initiate most contacts through regular mail delivered by the United States Postal Service. However, there are special circumstances in which the IRS will call or come to a home or business, such as:

• when a taxpayer has an overdue tax bill,
• to secure a delinquent tax return or a delinquent employment tax payment, or,
• to tour a business as part of an audit or during criminal investigations.”

Imagine your personal information getting into the wrong hands. At the least, you may spend a lot of time making frustrating calls to your bank or credit reporting bureau to make sure your information wasn’t compromised. At worst, your bank accounts could be cleaned out!

Lisa can help you get your finances under control! You need to be keenly aware of your financial situation to avoid being duped. She can help you manage and organize your records so you can make better decisions now and in the future. 

What are you waiting for? Get started today!

Tax Consultant in Belleville and the Surrounding Areas.

Contact Amador Accounting today! Lisa Amador is a tax consultant in Belleville, Ann Arbor, Ypsilanti, Saline, Canton and the surrounding areas. If you have a problem and need a solution, she can help you get organized and provide immense value to your business. (734) 330-0907

5 Advantages of Having a Bookkeeper for Your Small Business!

Are your books up to date and balanced?

Are you sufficiently aware of your business expenses?

Do you need help making financial decisions?

Keeping up-to-date financial records is critical for your business to be successful. Make sure you’re able to track profits and expenses. Don’t run into trouble because of overspending or failing to plan for the unexpected. Imagine having the peace of mind that comes from knowing you have enough in your account to cover both your ordinary expenses and any emergencies that may arise.

A bookkeeper:

1. Helps you know your financial situation
2. Improves decision-making
3. Makes work easier, allowing you more time to run your business
4. Safeguards your accounts, making sure you have enough money for investments and growth opportunities
5. Makes problem-solving easier when you notice potential fraudulent charges to your account

Lisa Amador understands how difficult and time consuming these tasks can be. They can cause you extra stress and long nights at the office catching up. How would you like to stop worrying about everyday business tasks and leave them to the experts? Amador Accounting can get your books in order and ready for tax season! 

Small Business Bookkeeping in Belleville and the Surrounding Areas.

Contact Amador Accounting today! Lisa Amador, Enrolled Agent, is the expert when it comes to small business bookkeeping in Belleville, Ann Arbor, Ypsilanti, Saline, Canton and the surrounding areas. If you have a problem and need a solution, Lisa Amador can help you get organized and provide immense value to your business. (734) 330-0907

Reasons to Outsource All Your Bookkeeping Processes!

Do you want more time to focus on growing your business?

Are you debating with yourself about outsourcing your bookkeeping processes?

Are you having trouble finding a reputable service for small business bookkeeping in Belleville or areas nearby?

Lisa Amador is the expert when it comes to small business bookkeeping! She can help make your internal processes more efficient, help you track your expenses, manage invoicing better, and even help you make your business decisions easier.

Need more reasons to outsource your bookkeeping?

1. More free time to grow your business!
2. Gain confidence and peace of mind!
3. Improve company operations!
4. Protect your company from fraud before it happens!

Not Ready to Outsource Everything Just Yet?

Take baby steps. Schedule a free consultation with Lisa Amador, Enrolled Agent! She’ll walk you through the entire process and will be able to customize a plan that fits your needs. Do you want to try it for a few months? She can do that too! Lisa can customize any plan and process and hand it off to you when you’re ready to take over. 

Small Business Bookkeeping in Belleville and the Surrounding Areas.

Contact Amador Accounting today! Lisa’s the expert when it comes to small business bookkeeping in Belleville, Ann Arbor, Ypsilanti, Saline, Canton and the surrounding areas. If you have a problem and need a solution, Lisa can help you get organized and provide immense value to your business. (734) 330-0907

Seeking Better Business Performance? An Enrolled Agent Can Help You!

Are you aware of all your business expenses?

Is your accounting process as effective as it could be?

Do you need help keeping your business records accurate and up to date?

Outsourcing your accounting to a skilled outside company can help keep your business successful and protect you from:

1. Financial statement fraud
2. Failing to manage accounts payable
3. Cash flow drying up from late or overlooked invoices and slow-paying or non-paying customers
4. Substandard record keeping, resulting in potential tax liability

Lisa Amador is a skilled enrolled agent who is dedicated to providing accurate and affordable accounting services. Give yourself peace of mind knowing that your finances are in the right hands. She’s got your best interests in mind!

For your business to prosper and be successful you need to be keenly aware of your financial records. Amador Accounting can help you manage and organize your records so you can make better decisions now and in the future. What are you waiting for? Get started today!

Accounting Services in Belleville and the Surrounding Areas.

Contact Amador Accounting today! We’re the experts when it comes to accounting services in Belleville, Ann Arbor, Ypsilanti, Saline, Canton and the surrounding areas. If you have a problem and need a solution, Lisa Amador can help you get organized and provide immense value to your business. (734) 330-0907