Help! What If I Can't Make My IRS Payment?

To contact us Click HERE

If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

What's New in QuickBooks Pro 2013?

To contact us Click HERE
ABA Tax Accounting | QuickBooks Pro | St. Paul, MN Accounting Firm

QuickBooks Accounting Services - The latest version of QuickBooks Pro features a refined layout, simplified navigation, and other improvements to help you do more with QuickBooks.
IMPROVED! Find what you need with improved readability and customizable navigationGet the information you need more easily. Larger fonts and a refined color scheme improve readability to help you focus on the task at hand. The new, customizable left navigation bar provides easy access to your open windows and most common tasks.
IMPROVED! Accomplish key tasks with the Ribbon tool bar and simplified layoutInvoices, Estimates, Sales Orders, and other forms now have a simplified layout for better access to actions previously hidden or requiring several clicks to execute. The new Ribbon format makes finding the actions you need faster and easier.
IMPROVED! Customize contact information fields in the Customer, Vendor, Employee CentersExpanded contact information fields are now more customizable, allowing up to 8 contact fields and multiple notes per contact. New tab functionality enables you to view transactions, contacts, to-do's, and notes on the same page.
IMPROVED! Do more with add-on applicationsExtend the use of your QuickBooks with add-on applications and money-saving features right in QuickBooks (additional purchase may be required).For no obligation free consultation contact us today! ABA Tax AccountingAuthorized QuickBooks Affiliate612-282-3200 Toll Free (866) 936-0430 www.abataxaccounting.comamare@abataxaccounting.comQuickBooks Accounting Services

Help! What If I Can't Make My IRS Payment?

To contact us Click HERE

If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

What's New in QuickBooks Pro 2013?

To contact us Click HERE
ABA Tax Accounting | QuickBooks Pro | St. Paul, MN Accounting Firm

QuickBooks Accounting Services - The latest version of QuickBooks Pro features a refined layout, simplified navigation, and other improvements to help you do more with QuickBooks.
IMPROVED! Find what you need with improved readability and customizable navigationGet the information you need more easily. Larger fonts and a refined color scheme improve readability to help you focus on the task at hand. The new, customizable left navigation bar provides easy access to your open windows and most common tasks.
IMPROVED! Accomplish key tasks with the Ribbon tool bar and simplified layoutInvoices, Estimates, Sales Orders, and other forms now have a simplified layout for better access to actions previously hidden or requiring several clicks to execute. The new Ribbon format makes finding the actions you need faster and easier.
IMPROVED! Customize contact information fields in the Customer, Vendor, Employee CentersExpanded contact information fields are now more customizable, allowing up to 8 contact fields and multiple notes per contact. New tab functionality enables you to view transactions, contacts, to-do's, and notes on the same page.
IMPROVED! Do more with add-on applicationsExtend the use of your QuickBooks with add-on applications and money-saving features right in QuickBooks (additional purchase may be required).For no obligation free consultation contact us today! ABA Tax AccountingAuthorized QuickBooks Affiliate612-282-3200 Toll Free (866) 936-0430 www.abataxaccounting.comamare@abataxaccounting.comQuickBooks Accounting Services

What's New in QuickBooks Pro 2013?

To contact us Click HERE
ABA Tax Accounting | QuickBooks Pro | St. Paul, MN Accounting Firm

QuickBooks Accounting Services - The latest version of QuickBooks Pro features a refined layout, simplified navigation, and other improvements to help you do more with QuickBooks.
IMPROVED! Find what you need with improved readability and customizable navigationGet the information you need more easily. Larger fonts and a refined color scheme improve readability to help you focus on the task at hand. The new, customizable left navigation bar provides easy access to your open windows and most common tasks.
IMPROVED! Accomplish key tasks with the Ribbon tool bar and simplified layoutInvoices, Estimates, Sales Orders, and other forms now have a simplified layout for better access to actions previously hidden or requiring several clicks to execute. The new Ribbon format makes finding the actions you need faster and easier.
IMPROVED! Customize contact information fields in the Customer, Vendor, Employee CentersExpanded contact information fields are now more customizable, allowing up to 8 contact fields and multiple notes per contact. New tab functionality enables you to view transactions, contacts, to-do's, and notes on the same page.
IMPROVED! Do more with add-on applicationsExtend the use of your QuickBooks with add-on applications and money-saving features right in QuickBooks (additional purchase may be required).For no obligation free consultation contact us today! ABA Tax AccountingAuthorized QuickBooks Affiliate612-282-3200 Toll Free (866) 936-0430 www.abataxaccounting.comamare@abataxaccounting.comQuickBooks Accounting Services

Do you have Payroll Tax Problems?

To contact us Click HERE
ABA Tax Accounting | Payroll Tax Problems | St. Paul, MN Accounting Firm

Federal, State, Local and International Taxes - If you are behind on paying payroll taxes for your company, WATCH OUT!!! The IRS is extremely aggressive pursuing collection of this type of tax. They would rather seize your business assets, close you down, sell your assets at auction, and put you out of business than allow you to continue amassing additional payroll tax liabilities.

If you are behind on your payroll taxes, DO NOT meet with the IRS on your own. How you answer their initial questions can determine whether you stay in business or not. It is critical you hire a professional representative who knows how the IRS operates. Considering a Tax Professional? For no obligation free consultation contact us today!  ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200866-936-0430 Toll Freehttp://www.abataxaccounting.comwww.abatax81.blogspot.com www.abataxaccounting.wordpress.com

Help! What If I Can't Make My IRS Payment?

To contact us Click HERE

If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

What's New in QuickBooks Pro 2013?

To contact us Click HERE
ABA Tax Accounting | QuickBooks Pro | St. Paul, MN Accounting Firm

QuickBooks Accounting Services - The latest version of QuickBooks Pro features a refined layout, simplified navigation, and other improvements to help you do more with QuickBooks.
IMPROVED! Find what you need with improved readability and customizable navigationGet the information you need more easily. Larger fonts and a refined color scheme improve readability to help you focus on the task at hand. The new, customizable left navigation bar provides easy access to your open windows and most common tasks.
IMPROVED! Accomplish key tasks with the Ribbon tool bar and simplified layoutInvoices, Estimates, Sales Orders, and other forms now have a simplified layout for better access to actions previously hidden or requiring several clicks to execute. The new Ribbon format makes finding the actions you need faster and easier.
IMPROVED! Customize contact information fields in the Customer, Vendor, Employee CentersExpanded contact information fields are now more customizable, allowing up to 8 contact fields and multiple notes per contact. New tab functionality enables you to view transactions, contacts, to-do's, and notes on the same page.
IMPROVED! Do more with add-on applicationsExtend the use of your QuickBooks with add-on applications and money-saving features right in QuickBooks (additional purchase may be required).For no obligation free consultation contact us today! ABA Tax AccountingAuthorized QuickBooks Affiliate612-282-3200 Toll Free (866) 936-0430 www.abataxaccounting.comamare@abataxaccounting.comQuickBooks Accounting Services

IRS increases focus on IC-DISC use by U.S. exporters

To contact us Click HERE
ABA Tax Accounting | IC-DISC | St. Paul, MN Accounting Firm

International Tax - U.S. exporters increasingly are using interest-charge domestic international sales corporations as tax-planning devices, putting the issue on the Internal Revenue Service's radar. The IRS released an audit guide for IC-DISCs this year that can help CPAs direct clients' decisions. Read the full story at The Tax Adviser (10/2012). Considering a Tax Professional? For no obligation free consultation contact us today!
ABA Tax Accounting Amare Berhie, International Tax Advisor amare@abataxaccounting.com 612-282-3200 Toll free 866-936-0430 http://www.abataxaccounting.com

As self-employed how do I file my annual return?

To contact us Click HERE
ABA Tax Accounting | Tax Services | St. Paul, MN Accounting Firm

Federal, State, Local and International Taxes - To file your annual tax return Self-Employed Individual, you will need to use Schedule C or Schedule C - EZ to report your income or loss from a business you operated or a profession you practiced as a sole proprietor.
Small businesses and statutory employees with expenses of $5,000 or less may be able to file Schedule C-EZ instead of Schedule C.
In order to report your Social Security and Medicare taxes, you must file Schedule SE (Form 1040), Self-Employment Tax. Use the income or loss calculated on Schedule C or Schedule C-EZ to calculate the amount of Social Security and Medicare taxes you should have paid during the year. Considering a Tax Professional? For no obligation free consultation contact us today!  ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200866-936-0430 Toll Freehttp://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

Tax-filing and Payment Extensions Expire Oct. 15

To contact us Click HERE
ABA Tax Accounting | Tax Services | St. Paul, MN Accounting Firm

Federal, State, Local and International Taxes - IR-2012-73 The Internal Revenue Service today urged taxpayers whose tax-filing extension runs out on Oct. 15 to double check their returns for often-overlooked tax benefits and then file their returns electronically using IRS e-file system.

Many of the more than 11 million taxpayers who requested an automatic six-month extension this year have yet to file. Though Oct. 15 is the last day for most people, some still have more time, including members of the military and others serving in Iraq, Afghanistan or other combat zone localities who typically have until at least 180 days after they leave the combat zone to both file returns and pay any taxes due. Considering a Tax Professional? For no obligation free consultation contact us today!  ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200866-936-0430 Toll Freehttp://www.abataxaccounting.comwww.abatax81.blogspot.com www.abataxaccounting.wordpress.com

Help! What If I Can't Make My IRS Payment?

To contact us Click HERE

If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

Romney's 47% Comments Distance Him from Bush-Era Republicans

To contact us Click HERE
ABA Tax Accounting | Tax Services

Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem. To read the full story click here. For more info please contact us: ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200866-936-0430 Toll freehttp://www.youtube.com/watch?v=yWvYfSr40Fwhttp://www.abataxaccounting.com

What's New in QuickBooks Pro 2013?

To contact us Click HERE
ABA Tax Accounting | QuickBooks Pro | St. Paul, MN Accounting Firm

QuickBooks Accounting Services - The latest version of QuickBooks Pro features a refined layout, simplified navigation, and other improvements to help you do more with QuickBooks.
IMPROVED! Find what you need with improved readability and customizable navigationGet the information you need more easily. Larger fonts and a refined color scheme improve readability to help you focus on the task at hand. The new, customizable left navigation bar provides easy access to your open windows and most common tasks.
IMPROVED! Accomplish key tasks with the Ribbon tool bar and simplified layoutInvoices, Estimates, Sales Orders, and other forms now have a simplified layout for better access to actions previously hidden or requiring several clicks to execute. The new Ribbon format makes finding the actions you need faster and easier.
IMPROVED! Customize contact information fields in the Customer, Vendor, Employee CentersExpanded contact information fields are now more customizable, allowing up to 8 contact fields and multiple notes per contact. New tab functionality enables you to view transactions, contacts, to-do's, and notes on the same page.
IMPROVED! Do more with add-on applicationsExtend the use of your QuickBooks with add-on applications and money-saving features right in QuickBooks (additional purchase may be required).For no obligation free consultation contact us today! ABA Tax AccountingAuthorized QuickBooks Affiliate612-282-3200 Toll Free (866) 936-0430 www.abataxaccounting.comamare@abataxaccounting.comQuickBooks Accounting Services

As Self-Employed Individual how do I make my Quarterly Tax Payments?

To contact us Click HERE
ABA Tax Accounting | Small Business Accounting | St. Paul, MN Accounting Firm

Self-Employed Individuals Tax Center - Estimated tax is the method used to pay Social Security and Medicare taxes and income tax, because you do not have an employer withholding these taxes for you. Form 1040-ES, Estimated Tax for Individuals, is used to figure these taxes. Form 1040-ES contains a worksheet that is similar to Form 1040. You will need your prior year’s annual tax return in order to fill out Form 1040-ES. Use the worksheet found in Form 1040-ES, Estimated Tax for Individuals to find out if you are required to file quarterly estimated tax.
Form 1040-ES also contains blank vouchers you can use when you mail your estimated tax payments or you may make your payments using the Electronic Federal Tax Payment System (EFTPS). If this is your first year being self-employed, you will need to estimate the amount of income you expect to earn for the year. If you estimated your earnings too high, simply complete another Form 1040-ES worksheet to refigure your estimated tax for the next quarter. If you estimated your earnings too low, again complete another Form 1040-ES worksheet to recalculate your estimated taxes for the next quarter. Considering a Tax Professional? For no obligation free consultation contact us today! ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200  866-936-0430 Toll Freehttp://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

Help! What If I Can't Make My IRS Payment?

To contact us Click HERE

If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

Romney's 47% Comments Distance Him from Bush-Era Republicans

To contact us Click HERE
ABA Tax Accounting | Tax Services

Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem. To read the full story click here. For more info please contact us: ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200866-936-0430 Toll freehttp://www.youtube.com/watch?v=yWvYfSr40Fwhttp://www.abataxaccounting.com

What's New in QuickBooks Pro 2013?

To contact us Click HERE
ABA Tax Accounting | QuickBooks Pro | St. Paul, MN Accounting Firm

QuickBooks Accounting Services - The latest version of QuickBooks Pro features a refined layout, simplified navigation, and other improvements to help you do more with QuickBooks.
IMPROVED! Find what you need with improved readability and customizable navigationGet the information you need more easily. Larger fonts and a refined color scheme improve readability to help you focus on the task at hand. The new, customizable left navigation bar provides easy access to your open windows and most common tasks.
IMPROVED! Accomplish key tasks with the Ribbon tool bar and simplified layoutInvoices, Estimates, Sales Orders, and other forms now have a simplified layout for better access to actions previously hidden or requiring several clicks to execute. The new Ribbon format makes finding the actions you need faster and easier.
IMPROVED! Customize contact information fields in the Customer, Vendor, Employee CentersExpanded contact information fields are now more customizable, allowing up to 8 contact fields and multiple notes per contact. New tab functionality enables you to view transactions, contacts, to-do's, and notes on the same page.
IMPROVED! Do more with add-on applicationsExtend the use of your QuickBooks with add-on applications and money-saving features right in QuickBooks (additional purchase may be required).For no obligation free consultation contact us today! ABA Tax AccountingAuthorized QuickBooks Affiliate612-282-3200 Toll Free (866) 936-0430 www.abataxaccounting.comamare@abataxaccounting.comQuickBooks Accounting Services

What are My Self-Employed Tax Obligations? What New Business Owners Need to Know About Taxes

To contact us Click HERE
ABA Tax Accounting | Small Business Accounting | St. Paul, MN Accounting Firm

Self-Employed Individuals Tax Center - As a self-employed individual, generally you are required to file an annual return and pay estimated tax quarterly.
Self-employed individuals generally must pay self-employment tax (SE tax) as well as income tax. SE tax is a Social Security and Medicare tax primarily for individuals who work for themselves. It is similar to the Social Security and Medicare taxes withheld from the pay of most wage earners. In general, anytime the wording "self-employment tax" is used, it only refers to Social Security and Medicare taxes and not any other tax (like income tax).
Before you can determine if you are subject to self-employment tax and income tax, you must figure your net profit or net loss from your business. You do this by subtracting your business expenses from your business income. If your expenses are less than your income, the difference is net profit and becomes part of your income on page 1 of Form 1040. If your expenses are more than your income, the difference is a net loss. You usually can deduct your loss from gross income on page 1 of Form 1040. But in some situations your loss is limited.
You have to file an income tax return if your net earnings from self-employment were $400 or more. If your net earnings from self-employment were less than $400, you still have to file an income tax return if you meet any other filing requirement listed in the Form 1040 instructions. Considering a Tax Professional? For no obligation free consultation contact us today! ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200866-936-0430 Toll Freehttp://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

What’s New in QuickBooks Premier Contractor 2013?

To contact us Click HERE
ABA Tax Accounting | QuickBooks Premier: Contractors Edition | St. Paul, MN Accounting Firm

QuickBooks Accounting Services - The latest version of QuickBooks Premier features a refined layout, simplified navigation, and other improvements to help you do more with QuickBooks.

• Create 'Jobs by Vendor' report: Organize your job costs by vendor, and see which vendors still need to be paid.
• Run 'Cost to Complete Job' report: Keep tabs on how much it will cost you to complete each job, and how your actual costs are comparing to your estimated costs.
• Analyze job profitability: Customized job cost reports allow you to see a job's profitability on a detailed, task-by-task level.
• Create job estimates and track change orders: As a job changes simply enter change orders into the estimate to keep track of the changes and their impact on your bottom line. Change orders are included on documents you print for your customer so that there are no surprises at the end of the job.
• Bill clients progressively by job phase: Track and bill clients by time & material, job phase, or percentage completion, whatever works best for your unique business.
• Track expenses that are not assigned to jobs: Identify expenses that haven't been categorized and easily assign them to jobs.

For no obligation free consultation contact us today! ABA Tax AccountingAuthorized QuickBooks Affiliate612-282-3200 Toll Free (866) 936-0430 www.abataxaccounting.comamare@abataxaccounting.comQuickBooks Accounting Services

Help! What If I Can't Make My IRS Payment?

To contact us Click HERE

If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

Romney's 47% Comments Distance Him from Bush-Era Republicans

To contact us Click HERE
ABA Tax Accounting | Tax Services

Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem. To read the full story click here. For more info please contact us: ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200866-936-0430 Toll freehttp://www.youtube.com/watch?v=yWvYfSr40Fwhttp://www.abataxaccounting.com

What's New in QuickBooks Pro 2013?

To contact us Click HERE
ABA Tax Accounting | QuickBooks Pro | St. Paul, MN Accounting Firm

QuickBooks Accounting Services - The latest version of QuickBooks Pro features a refined layout, simplified navigation, and other improvements to help you do more with QuickBooks.
IMPROVED! Find what you need with improved readability and customizable navigationGet the information you need more easily. Larger fonts and a refined color scheme improve readability to help you focus on the task at hand. The new, customizable left navigation bar provides easy access to your open windows and most common tasks.
IMPROVED! Accomplish key tasks with the Ribbon tool bar and simplified layoutInvoices, Estimates, Sales Orders, and other forms now have a simplified layout for better access to actions previously hidden or requiring several clicks to execute. The new Ribbon format makes finding the actions you need faster and easier.
IMPROVED! Customize contact information fields in the Customer, Vendor, Employee CentersExpanded contact information fields are now more customizable, allowing up to 8 contact fields and multiple notes per contact. New tab functionality enables you to view transactions, contacts, to-do's, and notes on the same page.
IMPROVED! Do more with add-on applicationsExtend the use of your QuickBooks with add-on applications and money-saving features right in QuickBooks (additional purchase may be required).For no obligation free consultation contact us today! ABA Tax AccountingAuthorized QuickBooks Affiliate612-282-3200 Toll Free (866) 936-0430 www.abataxaccounting.comamare@abataxaccounting.comQuickBooks Accounting Services

Help! What If I Can't Make My IRS Payment?

To contact us Click HERE

If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

Romney's 47% Comments Distance Him from Bush-Era Republicans

To contact us Click HERE
ABA Tax Accounting | Tax Services

Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem. To read the full story click here. For more info please contact us: ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200866-936-0430 Toll freehttp://www.youtube.com/watch?v=yWvYfSr40Fwhttp://www.abataxaccounting.com

What's New in QuickBooks Pro 2013?

To contact us Click HERE
ABA Tax Accounting | QuickBooks Pro | St. Paul, MN Accounting Firm

QuickBooks Accounting Services - The latest version of QuickBooks Pro features a refined layout, simplified navigation, and other improvements to help you do more with QuickBooks.
IMPROVED! Find what you need with improved readability and customizable navigationGet the information you need more easily. Larger fonts and a refined color scheme improve readability to help you focus on the task at hand. The new, customizable left navigation bar provides easy access to your open windows and most common tasks.
IMPROVED! Accomplish key tasks with the Ribbon tool bar and simplified layoutInvoices, Estimates, Sales Orders, and other forms now have a simplified layout for better access to actions previously hidden or requiring several clicks to execute. The new Ribbon format makes finding the actions you need faster and easier.
IMPROVED! Customize contact information fields in the Customer, Vendor, Employee CentersExpanded contact information fields are now more customizable, allowing up to 8 contact fields and multiple notes per contact. New tab functionality enables you to view transactions, contacts, to-do's, and notes on the same page.
IMPROVED! Do more with add-on applicationsExtend the use of your QuickBooks with add-on applications and money-saving features right in QuickBooks (additional purchase may be required).For no obligation free consultation contact us today! ABA Tax AccountingAuthorized QuickBooks Affiliate612-282-3200 Toll Free (866) 936-0430 www.abataxaccounting.comamare@abataxaccounting.comQuickBooks Accounting Services

Help! What If I Can't Make My IRS Payment?

To contact us Click HERE

If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

What's New in QuickBooks Pro 2013?

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ABA Tax Accounting | QuickBooks Pro | St. Paul, MN Accounting Firm

QuickBooks Accounting Services - The latest version of QuickBooks Pro features a refined layout, simplified navigation, and other improvements to help you do more with QuickBooks.
IMPROVED! Find what you need with improved readability and customizable navigationGet the information you need more easily. Larger fonts and a refined color scheme improve readability to help you focus on the task at hand. The new, customizable left navigation bar provides easy access to your open windows and most common tasks.
IMPROVED! Accomplish key tasks with the Ribbon tool bar and simplified layoutInvoices, Estimates, Sales Orders, and other forms now have a simplified layout for better access to actions previously hidden or requiring several clicks to execute. The new Ribbon format makes finding the actions you need faster and easier.
IMPROVED! Customize contact information fields in the Customer, Vendor, Employee CentersExpanded contact information fields are now more customizable, allowing up to 8 contact fields and multiple notes per contact. New tab functionality enables you to view transactions, contacts, to-do's, and notes on the same page.
IMPROVED! Do more with add-on applicationsExtend the use of your QuickBooks with add-on applications and money-saving features right in QuickBooks (additional purchase may be required).For no obligation free consultation contact us today! ABA Tax AccountingAuthorized QuickBooks Affiliate612-282-3200 Toll Free (866) 936-0430 www.abataxaccounting.comamare@abataxaccounting.comQuickBooks Accounting Services

Who is Self-Employed? What New Business Owners Need to Know About Taxes

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ABA Tax Accounting | Tax Services | St. Paul, MN Accounting Firm

Federal, State, Local and International Taxes - Generally, you are self-employed if any of the following apply to you.

• You carry on a trade or business as a sole proprietor or an independent contractor.
• You are a member of a partnership that carries on a trade or business.
• You are otherwise in business for yourself (including a part-time business)

Self-Employed: Don't Forget to Deduct Health Insurance Costs this Year. Under the Small Business Jobs Act of 2010, can reduce your net self-employment income by the amount of your self-employed health insurance deduction on Form 1040. Considering a Tax Professional? For no obligation free consultation contact us today! ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200866-936-0430 Toll Freehttp://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

What is the Life Cycle of an Exempt Organization?

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ABA Tax Accounting | Non-Profit Organizations | St. Paul, MN Accounting Firm

Non-Profit Organizations - Organizations that meet the requirements of Internal Revenue Code section 501(a) are exempt from federal income taxation. In addition, charitable contributions made to some section 501(a) organizations by individuals and corporations are deductible under Code section 170.
Here are the five stages in an organization's life cycle:

• Starting Out: Creating an organization under state law, acquiring an employer identification number, and identifying the appropriate federal tax classification.
• Applying for Exemption:  Acquiring, completing, and submitting application forms; how the IRS processes applications; and getting help from the IRS during the application process.
• Required Filings:  Annual exempt organization returns, unrelated business income tax filings, and other returns and reports that an organization may have to file.
• Ongoing Compliance:  How an organization can avoid jeopardizing its tax-exempt status, disclosure requirements, employment taxes, and other ongoing compliance issues.
• Significant Events:  Audits, private letter rulings, and termination procedures.

Considering a Tax Professional? For no obligation free consultation contact us today! ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200866-936-0430 Toll Freehttp://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com