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ProConnection® Newsletter | October 2007 | Vol. VI, No. 9
ProConnection® Newsletter | October 2007 | Vol. VI, No. 9
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To support our readers who work in taxes, with this issue we expand our tax coverage in each issue to include
Plus we continue with our great tax planning articles with client letters.
Earlier this year the Small Business and Work Opportunity Act of 2007 significantly increased penalties for tax preparer missteps, but it looks like the IRS has granted a reprieve. Our tax specialists, Terry Myers and Dee DeScherer, explain how the standards are being delayed.
Find out for just how long and what else is in the offing.
Help clients make the most of their IRA contributions when you review their tax status toward the end of the year. PREVIEW: There are financial benefits to donating to an IRA this year, even if the IRS lets you wait until next April.
While the home sale market may be slow at the moment, there is plenty of activity at the IRS on the home sale front. The IRS recently issued three rulings on the home sale exclusion that may provide benefits for your clients.
Here is how these three rulings change the home sale rules. Includes Client Letter.
For your convenience, we are bringing out a rolling three-month tax calendar each month so you can stay on top of looming deadlines.
See the three-month calendar here. Or, for long-term planning, see our 12-month calendar.
Practitioners can test drive the Lacerte software from their own computer. Or, if you have questions about Lacerte and how you can increase productivity using QuickBooks, please call 1-800-765-7777.
To Help You with Tax Season. As we get closer to tax time, we want to remind you that for a limited time, QuickBooks-compatible W-2 and 1099 tax forms are available with free ground shipping.
The forms provide QuickBooks software compatibility and great value with the all-inclusive, IRS-approved W-2 and 1099 kits. Kits are available in quantities as low as 10 and payroll information will print onto the correct section of each form.
Learn more about available tax kits here or call 1-800-433-8810. Be sure to enter special offer code C43618 when you check out on our Web site or mention it when you call to get free ground shipping.
Keep the Good Workers You DeserveAttracting and retaining good employees are the biggest challenges for many firms. In this issue we look at retention, and CPA Sandi Smith shares two different approaches to avoid unwonted departures of trained staff.
You Can Save over $175 in Your First Year over Standard Pricing. (See Note 1.) Clients like to pay their bills by credit card for convenience or to reap credit card payback bonuses (including mileage programs). And practitioners say accepting credit cards helps to reduce their Accounts Receivable.
Save Money Now. Practitioners pay a $9.95 set-up fee, but the $9.95 fee is waived for first three months, as are the first three months of monthly minimum fees. Also included free for practitioners is QuickBooks Billing Solutions (see Note 2) which enables online payment of invoices by credit card. See full specifics here.
Extend These Same Discounts to Clients. You can also help your clients save money when you refer them to these services.
Learn more about QuickBooks Merchant Services. Or, learn how to save even more as a QuickBooks ProAdvisor.
Notes:
1. Special pricing available for a limited time only and is valid only for accounting professionals who sign up for QuickBooks Merchant Service. Savings calculated as compared to standard $59.95 set-up and $17.95 monthly fees over the first twelve months.
2. QuickBooks Billing Solutions is required to e-mail invoices enabled for online payment. Separate sign-up and additional fees apply. Internet access required. Some Billing Solutions features are not activated for invoices sent via U.S. mail. Transaction fees still apply for mailed invoices and online payment options.
Joe Woodard's Detailed Overview We've Got it First. Over the years, we've published a number of Master Tips and other articles on QuickBooks financial software from Advanced Certified QuickBooks ProAdvisor (and member of Intuit's Certified Training Network) Joe Woodard.
Joe has let us scoop his own Website with this prepublication look at Joe Woodard’s New and Enhanced Features in QuickBooks 2008 so you can get up to speed quickly on QuickBooks 2008.
Also, click the link above to find out more about his free Webcasts on What's New in QuicKBooks 2008 on Oct. 9, Oct. 11, and Nov. 6. Thanks, Joe!
Practitioners can choose between live training opportunities coming their way or live online Webcasts as shown below. These sessions are filling up fast. If your city is sold out, not to worry - we will hold a webcast series in late November to help meet the demand.
Free: Unless noted, these training events are free to attend.
Live Training Events across the Country
Live Training Online
The Sleeter Group reports its last slots are filling up fast at its Accounting Software Consulting Conference. The conference is October 23-26, 2007 at the Rio Hotel in Las Vegas. The conference is billed as bringing together the entire "ecosystem" of small business accounting software, including consultants, developers, Intuit, and other vendors in the industry to help attendees pick up new ideas for succeeding in the market.
On a special pre-conference day, October 23, optional all-day sessions are offered on these topics:
To expand your client choices for shipping, DHL (a domestic and global delivery service) announces ShipRush, a free add-on that works with QuickBooks. The product is free to QuickBooks users who have a DHL account.
Learn more about ShipRush here. Or download ShipRush for DHL now.
Help clients by pointing them to this online "how-to" video.
My Business Manager now offers a 30-day free trial. This application takes the data directly from QuickBooks and turns it into graphs, dashboards and traffic-light reports that your client can use to help see how the business is doing and help improve profits.
If you want to sit down with clients and review visualized financial data in real time, My Business Manager can make it happen.
Learn more first here or move directly to the free trial.
If you work with clients on business formation, you should know about My Corporation, Intuit's support for small businesses just starting up or looking to improve their legal organization or standing. The completely revamped website now boasts information in its Learning Center, great for clients looking to educate themselves on their options.
A sudden rise in one particular kind of payroll scam puts practitioners at risk. Intuit's Michael Magness, Manager, Small Business Payroll Risk, shares must-know tips if you do payroll for new clients: the nine questions you can ask to help keep you safe from liability or loss of reputation.
These nine questions help you make sure you know who you are signing up for payroll services.
For You and Your ClientsCertified QuickBooks ProAdvisor® Frank Melvin IV found a number of his QuickBooks clients were having this problem so he developed a detailed instruction sheet to help them fix the problem. Now he lets us share the tip with you, including a PDF handout that he sends to clients by email.
Includes Handout plus Sample Letter or Email Language. Some of you have asked for materials you could send to clients to present the changes in QuickBooks 2008.
We've included a PDF file for your use, which you can print out for mailing or attach to emails to distribute to your clients. We've also included sample letters and emails that you can adapt as needed for your own purposes.
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