Job Description:

Busy CPA firm in the beautiful, cool pines of Prescott, Arizona, looking for an experienced accountant/bookkeeper with 3+ years experience to join our fun group of accountants and CPAs in a public accounting environment.  Duties will include performing monthly accounting tasks for small business clients, including posting journal entries, managing [...]]]> FULL CHARGE BOOKKEEPER/ACCOUNTANT

Job Description:

Busy CPA firm in the beautiful, cool pines of Prescott, Arizona, looking for an experienced accountant/bookkeeper with 3+ years experience to join our fun group of accountants and CPAs in a public accounting environment.  Duties will include performing monthly accounting tasks for small business clients, including posting journal entries, managing accounts receivable, accounts payable, fixed assets, depreciation, preparing financial statements, and preparing annual tax returns.  Part time to start with full time transition. Company has a great working environment, excellent perks and is flexible about working hours.  Working knowledge of QuickBooks a requirement (there will be a test).  

 Skills & Experience:

Minimum requirement:  intermediate level accounting classes completed
Associates degree in accounting strongly desired,
QuickBooks user
Microsoft Office and computer literate.
Experience working with clients; bring references.
Strong communicator, both in writing and verbally
Excellent organization and time management skills

To Apply, go to webpage www.prescottaccountants.com and look under JOB POSTINGS-CURRENT for contact information

Job Description:

Busy CPA firm in the beautiful, cool pines of Prescott, Arizona, looking for CPA-Auditor with 2-5 years experience to manage audits from planning to issuance, prepare tax returns, and perform general accounting functions.  Part time or full time position available.  Great work environment, benefits, flexibility and growth potential all available.  Governmental (Yellow [...]]]> CPA/Auditor

Job Description:

Busy CPA firm in the beautiful, cool pines of Prescott, Arizona, looking for CPA-Auditor with 2-5 years experience to manage audits from planning to issuance, prepare tax returns, and perform general accounting functions.  Part time or full time position available.  Great work environment, benefits, flexibility and growth potential all available.  Governmental (Yellow Book), Single Audit, and Non-Profit accounting strongly desired.  Prescott is centrally located in the northern Arizona mountains between Flagstaff to the north, and Phoenix to the South.  Average temperature is 75!! Come join our fun group!

 Skills & Experience:

Licensed Certified Public Accountant in the US, active status

2-5 years auditing and public accounting experience

Strong communicator, both in writing and verbally

Excellent organization and time management skills

Knowledge of QuickBooks, Lacerte, and Microsoft Office Tools desired

To Apply, go to webpage www.prescottaccountants.com and look under JOB POSTINGS-CURRENT for contact information

The IRS has a withholding calculator at IRS.gov to help [...]]]> If you have too little withheld from your pay check, you could end up owing money when you file your taxes. If you withhold too much, you get a large refund, BUT you have let the government have too much of your money all year.

The IRS has a withholding calculator at IRS.gov to help you figure the correct amount of federal withholding for your tax situation. If you find you are over or under withholding, you should fill out a new W-4 Form with your employer and have the withholding adjusted.

To use the withholding calculator have this information available:
*Your most recent pay stub
* Your most recent federal tax return
Then:
*Fill in all information that applies and print the screen that summarizes your information. Use this information to complete a new W-4 Form.

This tip brought to you by Schutte & Hilgendorf, CPA’s, a Prescott firm serving the greater Yavapai County, providing audit, accounting, bookkeeping, tax preparation and planning, Quickbooks accounting and setup to individuals and small businesses.
Contact us for a free initial consultation at 928-778-0079.

The following article, written by Juliana Kreul and published in WebCPA on October 31, 2011 is a very thorough explanation of how thousands of non-profits lost their exempt status in 2011.  It also includes recommendations for Organizations in this position to get reinstated with the IRS.  The process is lengthy, but well worth the effort if [...]]]>  

The following article, written by Juliana Kreul and published in WebCPA on October 31, 2011 is a very thorough explanation of how thousands of non-profits lost their exempt status in 2011.  It also includes recommendations for Organizations in this position to get reinstated with the IRS.  The process is lengthy, but well worth the effort if your Organization has found itself with this predicament.

CLICK HERE: Revocation of Non-Profit Status by the IRS

For assistance with filing past 990s and questions related to revokation and reinstatement for exempt organization, contact Schutte & Hilgendorf, a Prescott CPA firm, specializing in providing audit, accounting and tax services to non-profits in greater Northern Arizona.  We are located in Prescott, Arizona at 3140 Stillwater Drive.  Phone #928-778-0079. Visit our website at www.prescottaccountants.com.

The Holidays are here and that brings us thoughts of sugarplums and year-end close for your business. Below are some items for you to consider.

PURCHASE OF BUSINESS EQUIPMENT:

Qualifying new property placed in service before December 31 can be written off under 100% bonus [...]]]> 2011 YEAR END TAX CONSIDERATIONS AND PLANNING
FOR YOUR BUSINESS

The Holidays are here and that brings us thoughts of sugarplums and year-end close for your business. Below are some items for you to consider.

PURCHASE OF BUSINESS EQUIPMENT:

Qualifying new property placed in service before December 31 can be written off under 100% bonus depreciation. The bonus rate is scheduled to fall to 50% in 2012.

Section 179 depreciation applies to new or used equipment that can also be written off 100% up to a $500,000 purchase cost. This phases out after $2,000,000 of total qualifying purchases. Section 179 expensing will still be available in 2012, but the limits will be much lower.

As in previous years there are special rules and limits for vehicle purchases, so contact us if you have questions regarding those.

The qualifying equipment can be purchased on credit and expensed in 2011 as long as it is placed in service before year end.

IMPROVEMENTS ON YOUR BUSINESS REAL PROPERTY:

There are a variety of energy–related incentives that are scheduled to expire at the end of 2011. If you have, or are still considering some energy efficient improvements to your commercial building such as lighting, heating, cooling, and hot water systems this could be beneficial. There are certain standards that must be met to qualify.

VEHICLE USE EXPENSE IN YOUR BUSINESS:

A mileage log is required to prove your business-mile percentage if you use the vehicle for personal use or for commuting to work. This is required whether you use the standard mileage rate or actual vehicle expense, (i.e. gas, repair, etc). A value for personal mileage on a business vehicle needs to be calculated and added to your W-2 as an “auto fringe”. Call us for details or to calculate the personal value.

OFFICER WAGES AND HEALTH INSURANCE:

S-Corporation owners MUST pay themselves a reasonable wage and issue a W-2 to themselves. A “reasonable wage” is often described as what you would have to pay someone else to do your job. If you have taken “draws” out of the company this year and no wages, call us to reclassify an amount to wages and calculate payroll taxes on the amount. These payroll taxes must be paid by January 15, 2012 to avoid interest and penalties.

As a business owner, your personal health insurance premiums paid through the business should be added to your W-2 and thus deducted in full on your personal return– if they are not added to your W-2, the deduction is not a business deduction and will be taken on Schedule A- Itemized Deductions subject to the 7.5% medical adjustment. Call us for more information on how to handle this for maximum tax benefit.

HEALTH CARE TAX CREDIT FOR EMPLOYEES

If you pay any portion of health insurance premiums for employees you may be eligible for a credit on your tax return. There are eligibility requirements and the credit is limited to those who have 25 or fewer employees with average income of $50,000 or less. If you think you may qualify for this credit, contact us for more information.

HIRE ACT

The HIRE ACT, passed in 2010, provided credit for employers for each new person hired between February 4, 2010 and December 31, 2010 who had been unemployed for 60 consecutive days prior to hiring. The payroll tax credit was given on payroll taxes paid in 2010, but an additional credit is allowed if this employee was employed by you for the following consecutive 52 weeks. The additional credit is allowed to be taken on the 2011income tax return if this requirement is met. If this applies to your company, be sure to let us know.

PAYROLL

As of January 1, 2012, Arizona minimum wage will increase to $7.65. This amount is higher than the Federal minimum; however, Arizona employers must follow the Arizona statute.

THINGS TO DO:

Start gathering your business receipts, update your mileage logs, and tally up your income and expenses for the year. Remember to note the business reason for any travel, meals, and entertainment expenses on your receipts. If this is an over-whelming task for you, call us for help. We do provide this service at an hourly fee.

If you have employees, make sure you have up-to-date information on them – W-4 and A-4’s for deductions, addresses, name change if married/divorced during the year, and verify you have the correct Social Security number before you issue the W-2’s. If you pay year-end bonuses, be sure to add the amount to the W-2 and calculate and pay the additional payroll tax.

If you paid service providers/subcontractors over $600 during the year, make sure you have current addresses and a business EIN # or Social Security number for them. You must issue a 1099-MISC form to them by January 31. This also includes anyone you paid rent to if the amount is $600 or above. If you need assistance in this area give us a call.
We hope that this year was a prosperous one for your business. Call us before year-end at 928-778-0079 if you need an updated estimate of tax liability and to discuss any tax planning considerations.

Remember the filing deadline for Corporations and S-Corporations is March 15 – personal and Partnership returns is April 15.

This tip brought to you by Schutte & Hilgendorf, CPA’s, a Prescott firm serving the greater Yavapai County, providing audit, accounting, bookkeeping, tax preparation and planning, Quickbooks accounting and setup to individuals and small businesses.
Contact us for a free initial consultation 928-778-0079

Customer Refunds: Are You Doing Them Right?

Refunds. You probably wince at the word. Some – like customer refunds for returns – are fairly uncomplicated, thanks to QuickBooks’ tools. Others, not so much. You may find yourself unable to balance your accounts receivable.

There are numerous scenarios that necessitate the use of [...]]]> For December 2011

Customer Refunds: Are You Doing Them Right?

Refunds. You probably wince at the word. Some – like customer refunds for returns – are fairly uncomplicated, thanks to QuickBooks’ tools. Others, not so much. You may find yourself unable to balance your accounts receivable.

There are numerous scenarios that necessitate the use of credit memos, including overpayment, order cancellations and bad debt write-off. It’s critical that these are entered correctly. If they aren’t, you may lose a lot of the time that QuickBooks helped you save as you try to chase down a few dollars.

Click here for the Dec 2011 QuickBooks Tip

This tip brought to you by Schutte & Hilgendorf, CPAs, a Prescott CPA firm serving the greater Yavapai County, provides auditing, accounting, bookkeeping, tax preparation and planning, and QuickBooks consulting and setup to individuals and small busienesses.  Contact us for a free initial consultation at 928-778-0079

The size of the credit depends on how long the new hire was out of work. It could be 40% of the first $14,000 of pay for vets who were jobless for at least six months in [...]]]> For employers who hire unemployed veterans who begin work after November 21, 2011 and before January 1, 2013.

The size of the credit depends on how long the new hire was out of work. It could be 40% of the first $14,000 of pay for vets who were jobless for at least six months in the year before they were hired. For those out of work between four weeks and six months it is 40% of the first $6,000 of pay.

This tip is brought to you by Schutte & Hilgendorf CPA’s, a Prescott firm serving the greater Yavapai County, providing audit, accounting, bookkeeping, tax preparation and planning, QuickBooks accounting and setup to individuals and small businesses.
Contact us for a free initial consultation at 928-778-0079.

There is an Arizona Tax Credit available for military members and their families that is not widely known. The Arizona Department of Veteran’s Services administers the Military Family Relief Fund. The fund helps service members and their families faced with unforeseen expenses when a loved one becomes a casualty [...]]]> MILTARY FAMILY RELIEF FUND TAX CREDIT

There is an Arizona Tax Credit available for military members and their families that is not widely known. The Arizona Department of Veteran’s Services administers the Military Family Relief Fund. The fund helps service members and their families faced with unforeseen expenses when a loved one becomes a casualty of war. Your donations of $200.00 for single taxpayer and $400.00 for married filing jointly to the fund may qualify for this income tax credit.
This credit is available for tax years 2011 and 2012. Donations will qualify if the total amount donated to the fund during the calendar year has not exceeded 1 (one) million dollars state wide. Qualifying credit will be determined on a first come basis. Information available indicated only about $200,000 has been received by the Fund so far in 2011.
This is a credit similar to the Working Poor and Public School credit which directly reduces your tax liability to the State of Arizona. This credit is available only to individuals. Corporations and other business entities may not claim this credit.
You must receive a receipt from the Arizona Department of Veterans’ Services to verify your donation qualifies for the credit.

Click here to get the form to mail in with your check.

This tip brought to you by Schutte & Hilgendorf, CPA’s, a Prescott firm serving the greater Yavapai County, providing audit, accounting,bookkeeping,tax preparation and planning, Quickbooks accounting and setup to individuals and small businesses.

Contact us for a free initial consultation at 928-778-0079