by Kristi | Jan 18, 2016 | Announcements
Tax Organizer The Accounting Plus Tax Organizer will help you gather and organize the necessary documents required to complete your tax return. Since we ask that our clients wait until they have received all their tax documents before bringing in their files, you may find the below files helpful in making sure that you are including all information and that nothing has been overlooked. You may also find that using our tax organizer will cut down on the amount of time it takes for us to complete your tax return, which will ultimately reduce your tax prep bill. Itemized Deduction Worksheet Schedule C Tax Organizer (for self-employed businesses) Schedule E Tax Organizer (for rental property) Schedule F Tax Organizer (for farming activity) Consent to Disclosure of Information...
by Kristi | Oct 25, 2014 | Articles
Car Loan Interest: The Never-Ending Debt Car loans are a necessity for many, providing the financing for a dependable vehicle that would otherwise be unaffordable. However, if you receive a loan with a high interest rate, the monthly payments can hit your budget hard. By following these steps before getting a loan or refinancing an old loan, you can increase your chances of getting a reasonable interest rate. Check your credit The best way to determine if you are a good candidate for a loan based on your credit score is to check with all three bureaus. While there are many websites that say they can help you, the best approach is to ask for your credit report from each bureau personally, as you are entitled to a one free report from each annually. When you receive them, be sure to check and dispute any errors you may find. Then you will need to pay to receive your actual score from one company. By knowing your credit score, it can help you prepare for the kind of rates you will be offered. It may also give you pause to hold off on the purchase if your score is too low and you want to wait and improve your score before financing a car. Comparison shop for rates Rather than taking the first offer from the dealership, comparison shop first. It never hurts to find out the rates of different lenders in your area. One of the best places to start is a credit union, as they offer lower rates than banks. It’s important to note that credit unions do...
by Kristi | Sep 17, 2014 | Articles
While bankruptcy is not necessarily the ideal solution that comes to mind when encountering financial difficulties, it often seems like the only real solution, the last ditch effort for damage control. It is true that bankruptcy can be a helpful tool for getting out of debt, but there are other options you should consider first. Before you leap off the ledge, take a deep breath, spend some more time to balancing the books and see if strategic payments can you back on your feet. Tally Debts Before you take any major steps, make sure you have a clear and accurate idea of where you stand with your debt. Which bills do you still owe? How much do you owe? You need to include all your debts — credit cards, personal loans, mortgage, car payments, overdraft loans — as well as any regular recurring expenses. Are you leasing an apartment? Include this in your tally. Are you paying car insurance every month? Do you have student loans? These should also be accounted for. You need to know the exact total of how much you are trying to pay off before you can make any debt headway. Evaluate Income The other financial figures you need to analyze are those related to income. How much money are you bringing in every month? How much comes out of your paycheck for taxes, IRA, health insurance? If you work a straight 40-hour week salaried job, find the average amount you take home each week. If you overshoot your estimation, then you are going to wind up short on your budget. If you underestimate, then...
by Kristi | Jul 23, 2014 | Articles
Imagining a time when you can both settle your debts and save for the future may seem like a distant dream, but here are the facts: More and more people are making moves to get out of debt and get on with their lives. You can take financial responsibility and regain control of your life, by making changes today. And soon enough, a debt-free future will be within your grasp. Assess Your Debts: If you are aiming for debt settlement, then look at your whole debt picture and try to figure out a path to making sure that all debts are resolved. Assessing your debts means taking into account all of your debts — credit cards, loans, overdraft lines of credit, auto loans, personal loans, money owed to friends and family, student loans, and recurring expenses. Unless your spending and payment habits change, these debts will continue to accrue. Keep an eye out for places you can cut back. What are the recurring expenses that you can cut? How much is your cell phone bill? $100? $150? $200? If this is you and you’re having issues with debt, you may wish to downgrade your phone or just get off the mobile phone plan until you’re in a better spot. Do you pay for weekly manicures or pedicures? Monthly spa treatments? Daily lattes? Behavior like this may seem rash, but in a climate of debt you often have to do things you wouldn’t otherwise consider! Make a Plan: Once you know all the money you owe, then you need to make a plan to get out of debt and stick...
by Kristi | Sep 19, 2013 | Announcements
Under the new Patient Protection and Affordable Care Act (ACA), employers must provide their employees with the health insurance exchange notice by October 1, 2013. The US Department of Labor has issued two exchange notices – one for employers who do not offer health insurance, and one for those that do. Accounting Plus has copies of the exchange notice available for our clients that can be picked up anytime between 9am-5pm, Monday – Friday. For your convenience, below are the links to these forms posted on the US Dept. of Labor website as well. Employers will need to complete Part A and Part B of these notices; however, questions 13-16 within Part B of the model for employers with health plans are optional and do not require completion. Also, please remember to provide this notice to any new employees hired for for ACA Compliance. English Version For employers with health plans, click here. For employes without health plans, click here. Spanish Version For employers with health plans, click here. For employers without health plans, click...
