Hidden Profits: Why You Need an Operational Review

August Aquila shows how an operational review can help you discover hidden profits in your practice or business.

He identifies the nine areas that are often overlooked when firms look to improve profits, so you can bring out the true profit potential of your firm or business, regardless of its size.

Start finding hidden profits today.

Five Ways to Trim Your Overhead Expenses

If you or your clients are worried about making ends meet in the face of an uncertain economy, Sandi Smith shares five common ways any company can trim overhead expenses.

BONUS: A user-friendly PDF you can share with clients who are concerned about making ends meet.

Learn more here.

Over 15% of QuickBooks ProAdvisors Earn over $100,000 a Year

That's the finding of author Michelle Long, who surveyed QuickBooks ProAdvisors as part of her book, Successful QuickBooks Consulting. Michelle knows ProAdvisors and QuickBooks; she is an Advanced Certified QuickBooks ProAdvisor and a member of the Certified Trainer Network for Intuit.

Subtitled "The Complete Guide to Starting and Growing Your Own QuickBooks Consulting Business," the book includes other findings that you can apply to your own QuickBooks practice. We asked Michelle to share some of the best nuggets with our readers.

BONUS ARTICLE: Ten Tips for a Less Stressful Tax Season

We know that for most of you, the pressure is on through the end of tax season. That's why we wanted to share this BONUS ARTICLE on ten easy ways to help you master stress during the upcoming tax season, from Sandi Smith, CPA.

See which approaches you can start using now.

The AMT Fix Is In

Terry Myers and Dee DeScherer Congress gave an early Christmas present to millions of middle-income taxpayers who were facing thousands of dollars in extra tax liabilities due to a drop in the AMT exemption amounts for 2007. But taxpayers still need to wait to file.

Terry Myers and Dee DeScherer spell out the last minute changes for you here.

Be assured that Intuit's professional tax software is ready for these changes; more details can be found here:

Lacerte and AMT Update.
ProSeries and AMT Update.

IRS Issues Interim Guidance on New Tax Return Preparer Rules

The IRS recently issued guidance implementing a 2007 tax law change that toughens the tax return preparer penalty turning in part on the “realistic possibility” standard for the validity of tax positions.

Learn more about how the rules are being implemented.

Late-Breaking Tax Season News from the IRS

The IRS recently announced several last-minute changes to instructions and publications relating to the 2007 Form 1040.

Here's your summary of the changes.

Changes in Existing Payroll for Renewing Customers

Starting this month, clients who are currently subscribed to a QuickBooks Payroll service will be getting a notice from our Payroll group as their existing subscription approaches the annual renewal date.

Typically the notice will be sent two months prior to their renewal date and will explain changes to the subscription terms, changes which will take affect on the renewal date. The notices will go to clients with QuickBooks Basic, Standard, or Enhanced Payroll subscriptions.

(Note: Some of you subscribe to Enhanced Payroll for Accountants, and there are no changes in the terms for this payroll service.)

The changes are as follows:

Basic Payroll (best for small businesses that pay their employees but go to their accounting professionals to pay and file tax forms): $99 for up to three employees; $199 for an unlimited number of employees (new offering).
Standard Payroll (best for small businesses that run payroll and download federal payroll tax forms only [but not state forms]): $239 for renewing download customers ($269 for renewing disk delivery customers). Note: Standard Payroll is no longer available for new subscribers. Intuit will continue to support existing Standard Payroll customers.
Enhanced Payroll (best for small businesses that pay their employees and file their taxes themselves): $249 for up to three employees (new offering); $349 for an unlimited number of employees ($379 for disk delivery customers).

These changes went into effect for new customers in December. If you have any questions regarding these changes, please call 1-800-365-9618.

Helping Clients Decide between Outsourcing Payroll and Doing Payroll In-House

Have It Both Ways. Accountants tell us why they find that QuickBooks Assisted Payroll gives clients the benefits and conveniences of the clients doing payroll in house but distances clients from all the ways they can get payroll wrong. Many practitioners find that Assisted Payroll gives the best of both approaches.

Learn how these practitioners can do both: let their clients do their payroll in-house and still sleep easily at night.

QuickBooks Payroll Discounts -- Extended

Order via Web Site.Discounts announced earlier this year are now extended until March 17, 2008.

These discounts are independent of any ProAdvisor discount and cannot be used with any other discount.

Enhanced Payroll: $50 off of New Pricing. With discount, $199 for up to three employees (first year) and $299 for unlimited employees. This discount is available online and by telephone.
Assisted Payroll: $150 off. This discount is available online and by telephone.

See the discounts here.

FOR CLIENTS: Hiring and and Payment Guide

Aimed at the Business Owner. For clients just starting to expand staff and who have questions about dealing with employees, Intuit provides this online resource answering key questions of business owners. Also on Intuit's expanded www.payroll.com is much more general educational content. Business owners can learn about hiring and paying employees without wading through advertisements for payroll products. Topics include writing effective job postings and interviewing job candidates. The newly expanded payroll site also includes a Hiring Forum where business owners can swap advice.

Review the "Hiring and Payment Guide" and then send the link to clients who are growing their businesses.

Temporary Discounts for Your Clients

For a limited time, Intuit is offering significant discounts on selected QuickBooks products that you can use when you purchase QuickBooks for your clients, or that you can pass along to your clients in the form of discount vouchers. This offer will keep your clients up to date, save them money, and help you look like a hero in the process. Discounts are for QuickBooks Pro (20%), QuickBooks Premier (20%), QuickBooks Enterprise Solutions (10%), and QuickBooks Point of Sale (20%). The offers cannot be combined with other discount offers or our standing ProAdvisor discounts. (Note: If you are not already a QuickBooks ProAdvisor, you can get these same discounts at any time by becoming a QuickBooks ProAdvisor.)

Chance for You to Win a Sony 52-inch LCD HDTV

How It Works. Full details and options appear in the link below, but participating accounting professionals can be entered into a contest to win a Sony 52-inch LCD HDTV by downloading a savings voucher for clients or purchasing one of the products for clients online. With the sales voucher option, no purchase is necessary to enter the contest.

Limited Offer. To take advantage of these discounts, you or your clients need to act before March 31, 2008.

Click here for ordering information and rules and regulations of the contest. Or, call 1-888-666-7919, ext., 8604, and be sure to reference special offer code 4860559878.

Contest Rules: Void where prohibited or restricted by law. No purchase necessary to enter or win. Entrants must be at least 18 years of age and reside in the United States (all states, the District of Columbia, and Puerto Rico, except where prohibited or restricted by law). Entries are eligible through web purchases or by entering contact information on the web when downloading the Savings Voucher on www.accountant.intuit.com/tv. Purchases made through the call center are not eligible. Winner will receive a 52” Sony LCD HDTV, valued at approximately $3,000. Odds of winning depend upon number of eligible entries received. Sweepstakes runs from February 5, 2008 to 11:59 p.m. March 31, 2008. Sponsor is Intuit Inc., P. O. Box 7850. Mountain View, CA, 94039-7850. See official rules at www.accountant.intuit.com/tv.

Set up New Businesses Right

Texas CPA Larry Patterson Impresses Clients with MyCorporations’ Help

Larry Patterson helps many new businesses set up right – delighting clients in how he helps them position for success, and avoiding the headaches created by errors in putting together the documentation. He says that MyCorporation makes it possible.

MyCorporation provides easy and affordable tools to form LLCs, LLPs, C Corps, and S Corps, doing all the necessary filings, amendments and other needed business services in this area. Learn how Larry adds value to his services by working with MyCorporation.

See the full range of MyCorporation services, including a discount for accounting professionals.

New Bundle Builder Tool Available

Ever wish you could be like doctors, who jot down a prescription which their clients trot off and fill? Well, now you can, with our new Bundle Builder tool. We’ve included our most popular products – you just check the items you think your clients need and shoot your prescription to them.

Or select pre-built bundles -- in which significant discounts help you look good to clients.

Prescribe your first bundle today.

Discount for Clients (or Your Staff) on QuickBooks User Certification

The recently launched QuickBooks Certified User Program helps people who use QuickBooks daily to deepen their knowledge and skills -- and demonstrate their QuickBooks capabilities to current and future employers.

For a limited time, save 20% off on the Certified User Program (regularly $99.95, plus tax and applicable charges). Please pass this discount link along to clients and associates who may benefit from it.

Start here for the discount on QuickBooks user training and certification.

(Option: Experienced QuickBooks users can, if they choose, bypass the training and apply a discount to the test only.)

Note: The above links should result in the discounts already applied and shown when you order. However, if the discounts do not appear, please use the offer code 4875859915 for the certification training and test, and offer code 4875859916 for the test only. Be sure to include these codes when you pass along the link.

Help Us Test Way to Get Clients into the Right Version of QuickBooks

Intuit is looking for a limited number of accounting professionals to help test a special installation CD approach to help get clients into the right version of QuickBooks right away -- saving clients the trouble of having to order online, travel to the store, or wait for long downloads. (The effort includes QuickBooks Pro and industry versions of QuickBooks Premier.)

Only 350 Opportunities. Intuit is restricting this test program to a limited number of applicants. We are accepting only the first 350 applicants.

Limited Duration. The test is expected to start in March and end in June.

Benefits to Practitioners. Participating professionals will receive an installation CD they can use to can get their clients up and running quickly in a single office visit.

Benefits to Clients. Clients will get up and running right away, and would be purchasing the software at a special discount to be passed along to clients (not to be combined with other discounts.)

Extra Reward. Practitioners who complete the program requirements will receive one of 300 American Express Gift Cards in the amount of $25.

Act Now.* If more than 300 practitioners complete the program requirements, the gift cards will be awarded in order of original application.

Learn more here and then apply.

* Application period closes Friday, Feb. 29, 2008. Applicants will be contacted by March 28, 2008. Successful completion makes participant eligible for one of 300 American Express Gift Cards in the amount of $25, awarded to participants who have completed requirements in the order of application. Depending on level of participation, some participants may not receive a gift card.

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This monthly e-mail is being sent to you because you have subscribed to the Intuit ProConnection Newsletter.

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NOTICE: DISCLAIMER OF LIABILITY

Intuit does not warrant or quaran-tee the accuracy of any statement or other information and materials provided in this newsletter. All articles and other information and materials in this newsletter (collectively, "Information") are provided for general information purposes only and are not intended to constitute legal, accounting or tax advice or opinions on any specific matters. The opinions expressed in Information are those of the author(s) and not necessarily those of Intuit. Laws and regulations change frequently and their application can vary widely based upon the specific facts and circumstances involved. You, and not Intuit, are responsible for the applicability and accuracy of Information as it relates to your practice or to your clients. Your use of Information does not relieve you of responsibility, including those to any third party, for matters involving your practice or your clients (e.g., preparation of tax returns, etc.) and you may not rely upon Intuit for advice regarding same. The provision of Information by Intuit is not intended to create, and your receipt does not constitute, any form of relationship between Intuit or the author(s) and you.

We provide this newsletter as a convenience and courtesy for Intuit customers. Intuit does not intend to use the newsletter to supplement, modify or extend, the software license agreement between Intuit and the customer for the applicable product or service, and the newsletter is subject to said agreement.

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