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Year End


Nov

01

2018
Business Expense Deduction Check-Up

Business Expense Deduction Check-Up

As you prep for year-end reporting, it’s a good time to consult with your CPA and brush up on changes to business expense deductions from the Tax Cuts and Jobs Act (TCJA). Read more about tax deduction changes that may impact your business and get tips on how to recategorize expenses to align with the changes.


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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Feb

11

2016
Small Tax Preparation Time

Small Tax Preparation Time

With tax season well under way, many businesses are preparing to file their tax returns with the IRS. Before the returns are finalized there a numerous steps that a small business should take to ensure accuracy and efficiency during the filing process. Here is ASAP’s take on the steps that should be taken: Decide if you need professional assistance or not. Many small business owners...

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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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Apr

15

2015
Tax Day, UGH!

Tax Day, UGH!

April 15th is tax day, UGH! As a business owner or manager these tax deadlines are dreadful. This time of year likely has you either scrambling  to get your financials reconciled and ready for your CPA OR you’ve filed an extension which means you’ll procrastinate until Fall when you’ll be scrambling again. Sound familiar? At ASAP we help business owners and managers stop dreading this...

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Jan

16

2015
Stay on Top of your UI Rate

Stay on Top of your UI Rate

20% of CO Employers May Not have the Proper Colorado Unemployment Rate in Use This month the CDLE informed us that roughly 20% of employer’s UI rate notices mailed in November were returned to them due to invalid mailing addresses.  Did you receive your rate notice?  Is your 2015 UI rate for payroll up to date?  If you are with ASAP, you can be assured...

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Jan

02

2015
2015 Minimum Wage Alert

2015 Minimum Wage Alert

Colorado’s new minimum wage is $8.23 per hour ($5.21 for tipped employees). Download our free White Paper to see minimum wage increase across all states. The following White Paper sets forth the state minimum wage and overtime rates as of January 1, 2015. Some states have minimum wage rates that are higher than the federal rate, while a few have rates that are lower.    


Dec

30

2014
Before Your First Payroll

Before Your First Payroll

Minimum Wage Requirements; the proposed minimum wage for Colorado, effective 2015 is $8.23 per hour (up from $8.00) and $5.21 per hour for employees receiving tips (up from $4.98). →ASAP will publish final Year End information at www.businessasap.com/client-dashboard/ →Employees Receiving Tips? Be sure to review your responsibilities as an Employer and follow tip-reporting guidelines. Benefit Information including sick/vacation hours, additional earnings/deductions; verify current/updated policy and...

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Dec

19

2014
New Year Preparation | BEFORE YOUR LAST PAYROLL

New Year Preparation | BEFORE YOUR LAST PAYROLL

 Employee Information; verify current and former employees addresses and SSNs (ASAP’s W2 Edit List) Special Procedures; schedule additional Payroll Runs (such as Bonus Runs, Owner/Adjustment Payrolls, etc.) – These must be processed in 2014, notify ASAP if you need to schedule such payrolls. Benefits Data; confirm compensation, benefit/pension plan contributions such as those based on 2014 plan limits. Health and accident insurance premiums paid on...

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