We take care of the paperwork so you can take care of business

1099Bookkeepers, LLC is your solution for installing and maintaining Quickbooks.

Initial installation is the most important part of Quickbooks. Starting off on the right foot will keep you going in the right direction for years to come.

Call us at 646-580-1099  for a no-obligation review of your current accounting practices and to get you started with Quickbooks.

With our help it is not as hard as you might think.

With over 40 years of accounting and bookkeepping experience we will bring professionalism and clarity to your books, your accounts and your business.

Call us at 646-580-1099 to arrange for an appointment.

It is a very good idea to purchase an inexpensive program such as Quickbooks to help categorize your income and expenses. You can email the “Accountants copy” to your accountant while you continue to work in Quickbooks. Any changes your accountant makes can be imported back to Quickbooks. Call Matis at 646-580-1099 or email matis@1099bookkeepers.com for help in setting up your Quickbooks program.

1. In most cases, the IRS does not require you to keep records in any special manner. Generally, you should keep any and all documents that may have an impact on your federal tax return. It’s a good idea to have a designated place for tax documents and receipts.

2. Individual taxpayers should usually keep the following records supporting items on their tax returns for at least three years:

• Bills
• Credit card and other receipts
• Invoices
• Mileage logs
• Canceled, imaged or substitute checks or any other proof of payment
• Any other records to support deductions or credits you claim on your return
• You should normally keep records relating to property until at least three years after you sell or otherwise dispose of the property. Examples include:
• A home purchase or improvement
• Stocks and other investments
• Individual Retirement Arrangement transactions
• Rental property records

3. If you are a small business owner, you must keep all your employment tax records for at least four years after the tax becomes due or is paid, whichever is later. Examples of important documents business owners should keep Include:

• Gross receipts: Cash register tapes, bank deposit slips, receipt books, invoices, credit card charge slips and Forms 1099-MISC
• Proof of purchases: Canceled checks, cash register tape receipts, credit card sales slips and invoices
• Expense documents: Canceled checks, cash register tapes, account statements, credit card sales slips, invoices and petty cash slips for small cash payments
• Documents to verify your assets: Purchase and sales invoices, real estate closing statements and canceled checks

Recent prosecutions of individuals and companies who – acting under the guise of a payroll service provider – have stolen funds intended for payment of employment taxes makes it important that employers who outsource payroll are aware of the following tips:

1. Employer Responsibility The employer is ultimately responsible for the deposit and payment of federal tax liabilities. Even though you forward the tax payments to the third party to make the tax deposits, you – the employer – are the responsible party.

   If the third party fails to make the federal tax payments, the IRS may assess penalties and interest. The employer is liable for all taxes, penalties and interest due. The IRS can also hold you personally liable for certain unpaid federal taxes.

2. Correspondence If there are any issues with an account, the IRS will send correspondence to the address of record. The IRS strongly suggests you do not change the address of record to that of the payroll service provider. That could limit your ability to stay informed of tax matters involving your business.
3. EFTPS Choose a payroll service provider that uses the Electronic Federal Tax Payment System. You can register on the EFTPS system to get your own PIN to verify the payments.
4. For help with your payroll and other bookkeeping needs call Matis at 646-580-1099 or email matis@1099bookkeepers.com.