ABC Business Services LLC

Make it count ... Know your numbers!

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Book your appointment online!

Posted on January 21, 2019 at 12:15 AM Comments comments (0)

ABC Business Services LLC is happy to announce the ability to schedule your Tax Preparation appointment with Mark A Pari online.

Appointments are currently being accepted online for preparing the 2018 Individual or Business Income Tax Return with appointment times of 15 minutes or 30 minutes.  A 15 minute appointment is commonly used by current clients who have a few changes to their filing information.  A 30 minute appointment is generally for new clients.

The scheduling app is located on the ABC Business Services LLC home page as well as an access button on the Tax Preparation page located under Services.  Of course appointments are always accepted by calling 386-492-4947, texting 386-290-8909, or by email at [email protected]


Autumn has arrived

Posted on September 23, 2015 at 8:00 PM Comments comments (0)

Besides leaves turning color and falling, Autumn signals that the year is winding down.  You still have time to correct your tax situation, which can save you time and money in 2016 and may even get you more in your paycheck through the end of the year.

The IRS describes "Certain Life Events" that may trigger "Significant Tax Impact".  Most people know about the Birth of a Child, but what about your child having more than $1,600 in Investment Income which can have an negative impact on your taxes.  Marriage, Divorce, Separation, and the effects of the new Health Care Laws are very common.  Did you lose your job or have you started a new job, did you have to move to start this job, did that make you a first time home owner, or did it result in a Bankruptcy or settling Debts.  Did you receive a distribution from a Mutual Fund, sell stocks or bonds, receive money or property from an estate?  Did you start or end a business?  Did you suffer from a disaster or casualty loss, are you a person with disabilities, or have you accelerated your Retirement Planning?  

Do yourself a favor and talk to your tax advisor before the end of the year.  Increasing your withholding or estimated tax payments may be an easy payment solution to a future tax issue.

How are your books?

Posted on September 16, 2015 at 7:25 PM Comments comments (0)

Your books are not just a record of the financial history of your company, but it's where you keep your finger on the pulse of your business.  

Timely, accurate records will provide the insight to help keep your business on course.  The details in your books can show what products or services are profitable and which may need attention or even elimination. 

Most business startups will involve the Owners or their family members as recordkeepers.  At startup, this is both affordable and effective but as the business grows and evolves, there comes a point where the Owner needs access to their financial data but not continue to be the data entry clerk. Most move forward to hiring a part-time or full-time Bookkeeper.  This can, however, be an expensive option at $10 plus per hour, payroll tax expense, and possibly having to pay for health care.  Another option is to find a competent Bookkeeping Service.  

For example, a business owner who had a full-time bookkeeper for several years, needed to expand production staff but was feeling top heavy on office staff.  The client looked at net pay as the cost of this service and was certain it wasn't the issue.  When showed that the $11 per hour or $440 per week, plus $40 employer tax, plus $70 for health insurance, well it was costing him $28,600 per year, not including other costs like Workman's Comp.  Our service provides weekly services for this particular client, on location, for $100 per week ... no other fees.  That's just $5,200 per year, for a savings of $23,400.   His books are always up-to-date and balanced, he now gets monthly reports and analysis, off site remote support as needed, and advise on how to grow his business whenever needed for a small additional fee.

Free your time and move up to Professional Service.  Call today for a free consultation.

Business Tax Deadline approaching fast

Posted on September 9, 2015 at 6:55 PM Comments comments (0)

The IRS filing deadline for Businesses that have timely filed an extension is less than a week away.  If you prepare your own tax return now is the time to get to work on your Form 1065, 1120, or 1120S.  If you use a paid preparer, you should have all your documentation to them by now and should be prepared to answer any additional questions as soon as possible.

The September 15th deadline may also mark the step before filing your own tax return by October 15th, which mean you really have your work cut out for you.  If you need help or assistance, please feel free to call.

As a side note, if you still owe taxes for 2014, there will probably be a late payment penalty and additional interest due back to the original due date of your tax return, so be prepared to deal with those fees or additional notices, as the case may be.  If this describes your situation, now is the time of year to review your current books, and if need be, make the necessary changes to your Estimated Tax Payments to avoid this situation in 2016.

Still on Extension?

Posted on September 2, 2015 at 9:15 AM Comments comments (0)

You (or someone you know helped you) file an extension on your 2014 Tax Return. 

Is your return still not filed?  Why? 

Yes the deadline for filing on extension is October 15, 2015, but there may be a reason to get it done now.

Did you know that taxpayers who received advance payments of the premium tax credit in 2014 should file their 2014 tax return as soon as possible to ensure they can continue receiving these advance payments in 2016?  Not filing may jeopardize or possibly delay your ability to collect these advanced payments.

Don't delay ... File today!

For assistance or advice please feel free to contact ABC Business Services.

 

Back Tax Scam

Posted on August 24, 2015 at 8:40 AM Comments comments (0)

Whether by phone call, text message, or e-mail, someone stating that they are with the IRS, US Treasury, or Homeland Security that demands your financial information or demands that you pay your back taxes today in cash or face being arrested is a definitely a Scam. 

Homeland Security does not collect taxes. 

The IRS collects taxes through the US Treasury, which accepts all forms of payment except cash in most cases. 

None of these agencies ask you to go to your ATM and get cash now.  The IRS and US Treasury do not ask for you to meet them in a parking lot somewhere in town to avoid arrest. 

If you get one of these calls hang up, dial your phone provider to request the call be tracked (the caller will call back at least one more time), contact local police to inform them where you were supposed to meet so they can watch for suspicious activity there, if the person calling becomes too agressive or persistant ask them to meet you at the local police station (and that should stop the calls).

If you do have IRS problems and are in doubt, contact the IRS directly at 1-800-829-1040.  If you need help with an IRS issue, feel free to contact ABC Business Services for assistance and advice. 

Below is an excerpt from www.IRS.gov (the official website). 

"We don’t initiate contact with taxpayers by e-mail or social media to ask for personal or financial information. Please visit our Report Phishing page if you receive correspondence that looks suspicious and was designed to appear as though it came from the IRS. You can also call 1-800-829-1040."

Other resources for IRS related scams -

www.irs.gov/uac/IRS-Wants-You-to-Know-About-Schemes,-Scams-and-Cons



 

 


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