Hello Clients and Friends,
I hope everyone had a Merry Christmas and I wish for all of you to have a fun and safe New Year’s Eve. This blast is to advise you of a few things you need to be aware of and to watch for.
Since the employment services are having difficulty finding a new employee for me, I wanted to ask all of you for your help. Do you know a person preparing corporate tax returns that is looking for a change? Please mention us to them and ask that they call the office to discuss employment opportunities!
The office process of preparing your tax returns has been revamped in order to serve you in a timely manner. Your part in this process is to have all you tax documents to us two weeks before your scheduled appointment. Jen will call and email you three weeks ahead as a reminder. When documents come in late it causes a backup in the process. Therefore, if your documents are not here at the appropriate time your appointment will be cancelled.
In January the IRS will be mailing out two letters:
We must have these letters to accurately prepare your tax return so watch for them in your mailbox.
Minimum wage in Michigan will increase to $9.87 effective 1/1/22. This means those running payroll checks may need to pay their employees two rates if the pay period includes both days worked in 2021 and 2022.
The unemployment office will be issuing the 2022 rates to all employers, we are asking you to update your QuickBooks with this new rate before you create any pay checks dated in 2022.
Please do not file your December or 4th quarter MTO filing. Do pay the tax you owe, but let us do the filing of the form so we can confirm the 2021 filings will correctly match the annual filing.
If you use your personal vehicle for business, take a moment and go look at your odometer. Then email us a quick note that says make/model of car and odometer reading on 12/31/21.
It is a great idea to close your books so that a wrong year is not accidentally entered. The option is found by clicking Edit/Preferences/Accounting/Company Preferences, at the bottom of the screen you will see Closing Date and a box labeled Set Date/Password. Click on the box, enter a date of your choosing (12/31/20 is good for now) and enter a password (I like something easy like “close”) and click OK. Should you need to enter something before the chosen closing date, the program will ask for the password and then allow you to enter it.
That completes the things I wanted to mention, if you have any questions feel free to reply or just give us a call.