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January 2010 Newsletter
Due Dates:
January 15 = Monthly Payroll Tax Deposits
January 15 = 4th Quarter Est'd Income Tax Deposits
(State deposit may have been in
December)
January 20 = Monthly MN Sales Tax
(Annual Filers have until Feb 5)
January 31 (February 1) = W2s to Employees and Form
1099s to Vendors
January 31 (February 1) = Federal and State
Unemployment Reports and Payments
More than 50 Employees? MN requires the 2009 W-2s to be
E-Filed.
 QuickBooks offers this an an option. Let us help you with
this.
Mileage Rate for 2010 is
now 50¢; was 55¢ for 2009.
 What's
Your New MN Unemployment Rate?
How do you update it in QuickBooks?
Follow this link
to interpret your 2010 MN UI Rate Notice.
FYI: The 2010
New Employer rate is 2.8674%.
The rate for high
experience-rated industry new employers is 9.81%.
Preparing
for Year End - Form 1099s:
1. Have current information on your service providers -
you'll need a Federal ID number and an address for service
providers who are Sole Proprietors or Partnerships or LLCs
organized as either. Be ready to issue Form 1099s.
Here's an IRS
Form W9 that can be used to collect information from your
vendors.
2. Need just a few forms - we have packages available -
the forms, the cover sheet, envelopes and a large envelope.
. A Packet
for SIX 1099's is $6.00 (includes sales tax and shipping)
A Packet for TEN
1099's is $10.00; A Packet for TWENTY 1099's is $19.00
(Please deduct $1.50 if
picked up at our office.)
3. Need help getting the forms prepared? Let's go
on-line together and set this up, only $20 for thirty minutes of
QuickBooks support.
Contractors Withholding
is more involved and will take longer.
A New Testimonial
¬¬¬American Gourmet Catering
¬¬¬
Thank you to Chef Tom Johnson with American Gourmet Catering at the
Nisswa Legion for your recent testimonial.
New Year's
Resolution: More
Benefits for Your Employees
«
Consider DIRECT DEPOSIT or DEBIT CARDS for your Employee's
Paychecks; cost
is only $1.05 per paycheck. Saves both you and the
employee TIME. Debit Cards are a great option for
'unbanked' employees.
«
Consider implementing PERSONAL TIME OFF. The best
of both worlds - combine vacation and sick time into one easy-to-track category. And be in compliance with the Healthy
Families Law being considered for legislation.
« Consider a SIMPLE RETIREMENT PLAN. Help your
employees save for their future.
« Consider letting your employees VIEW THEIR PAYCHECK
STUBS online (a new service).
Advantages of Outsourcing Payroll
www.accountabilitysolutions.net
Help Us with Links
-- Find a FLAW on our Website -- WIN 20 ONLINE MINUTES
(Value $15.00). Thanks!
Jan. 10, 2010
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