Recordkeeping


Feb

28

2018
New Tax Law and Employee Withholding Changes

New Tax Law and Employee Withholding Changes

Employees often complain about their taxes, especially this time of year. The Tax Cuts and Jobs Act made major changes to the tax law. With these changes, your employees should do a paycheck checkup using the new withholding calculator released by the IRS.  The Internal Revenue Service released an updated Withholding Calculator on IRS.gov and a new version of Form W-4 to help taxpayerscheck their...

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Feb

19

2018
Top 10 Payroll Compliance Mistakes

Top 10 Payroll Compliance Mistakes

While ignorance is bliss, it won’t help you get out of an employment tax or labor law penalty.  We know business owners are juggling a lot of balls and under a great variety of pressures.  We compiled this top 10 list to help small business owners understand the most frequent payroll compliance issues they will inadvertently stumble upon. All payments you issue to your employees should go...

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Jul

17

2017
New I-9 Form Released

New I-9 Form Released

The United States Citizenship and Immigration Services (USCIS) released a new Form I-9, Employment Eligibility Verification, on Monday, July 17. Employers will be able to use this revised version immediately, but may continue using the Form I-9 with a revision date of 11/14/16 through September 17, 2017. Beginning September 18, 2017 employers must use the revised form with a revision date of 07/17/17 for all...

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Aug

29

2016
FLSA Overtime Changes and Exempt Employees

FLSA Overtime Changes and Exempt Employees

New overtime rules are slated to go into effect DECEMBER 1, 2016. With this final ruling ANYONE who makes less than $913 per week ($47,476 per year) will be eligible for overtime (meaning you will be required to pay them overtime). In other words this will impact your workers currently classified as exempt (or rather in plain english – your SALARY workers).


Jun

30

2016
Inventory Management

Inventory Management

Properly managing your inventory can help you stay within your budget and keep cash flowing through your company, writes Melinda Emerson. She explains how to calculate your “inventory turns” to determine whether your company is operating efficiently.


Apr

07

2016
An Alarm clock is on the foreground and golden coins are on the background. Financial line graphs are drawn on the concrete wall. Wooden floor. The concept of time is money. 3D rendering.

CA & NY Increase Minimum Wage, CO Next?

On Monday April 4th governors in New York and California signed legislation that will increase their states’ minimum wage to $15.00 per hour. The bills seek incremental change by electing the minimum wage increase to reach $15.00 per hour in 2018 for New York, and 2022 for California. California Governor Jerry Brown signed the legislation into effect only hours before New York. Minimum wage will...

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Jan

27

2016
1099 Basics

1099 Basics

With the final days of January upon us; it is getting down to the last minute for issuing 1099 Forms. Let’s review the basics and look at the background behind the form. What? The 1099 form is an information return the IRS requires payers provide to any individual or unincorporated business whom they have issued $600 or more in rents or compensation; also required for...

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Jan

06

2016
Close up of miscellaneous income form on table with calculator and glasses

Year End Essentials

Just like that Year End is upon us again, and if we are not careful we will all drown from our work loads. However, with ASAP Accounting and Payroll by your side you can relax, for we offer the metaphorical lifeboat to save you from drowning in your workloads! First things first, make sure the W4 form you issue new employees are up-to-date. The 2016...

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Oct

02

2015
Is Your Business Ready for Chip Cards?

Is Your Business Ready for Chip Cards?

October 1 marks day number one that business across the country are expected to accept chip-enabled cards (EMV), and if they’re not ready, well they can expect to bear the burden of fraudulent charges made on the old magnetic strip cards. That’s right, small businesses, and big business alike, will be responsible for fraudulent charges made on the old style of credit cards. These new...

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Apr

22

2015
Today is Earth Day.

Today is Earth Day.

April 22 is Earth Day, but at ASAP, we use every day as an opportunity to conserve our environmental resources. For us, we do that primarily with the use of technology and paperless solutions to lighten our footprint. Here are a few tidbits on some of the ways we do this on a day-to-day basis. We are technology gurus but we didn’t start out that...

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