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It’s at the third quarter with it being September.  Some companies have elected an extension time to file, IRS offers payment arrangements if Taxes are owed to them.
Contact us today at 281.748.0862 OR email is at bookkeepingtaxes@comcast.net, we will take care of it for You!

Posted by Sheryl- Blessings on Your Day =))


Keep the Child Care Credit in Mind for Summer

If you are a working parent or look for work this summer, you may need to pay for the care of your child or children. These expenses may qualify for a tax credit that can reduce your federal income taxes. The Child and Dependent Care Tax Credit is available not only while school’s out for summer, but also throughout the year. Here are eight key points the IRS wants you to know about this credit.

1. You must pay for care so you – and your spouse if filing jointly – can work or actively look for work. Your spouse meets this test during any month they are full-time student, or physically or mentally incapable of self-care.

2. You must have earned income. Earned income includes earnings such as wages and self-employment. If you are married filing jointly, your spouse must also have earned income. There is an exception to this rule for a spouse who is full-time student or who is physically or mentally incapable of self-care.

3. You must pay for the care of one or more qualifying persons. Qualifying children under age 13 who you claim as a dependent meet this test. Your spouse or dependent who lived with you for more than half the year may meet this test if they are physically or mentally incapable of self-care.

4. You may qualify for the credit whether you pay for care at home, at a daycare facility outside the home or at a day camp. If you pay for care in your home, you may be a household employer. For more information, see Publication 926, Household Employer’s Tax Guide.

5. The credit is a percentage of the qualified expenses you pay for the care of a qualifying person. It can be up to 35 percent of your expenses, depending on your income.

6. You may use up to $3,000 of the unreimbursed expenses you pay in a year for one qualifying person or $6,000 for two or more qualifying person.

7. Expenses for overnight camps or summer school tutoring do not qualify. You cannot include the cost of care provided by your spouse or a person you can claim as your dependent. If you get dependent care benefits from your employer, special rules apply.

8. Keep your receipts and records to use when you file your 2013 tax return next year. Make sure to note the name, address and Social Security number or employer identification number of the care provider. You must report this information when you claim the credit on your return.

For more details about the rules to claim this credit, see Publication 503, Child and Dependent Care Expenses. You can get both publications at IRS.gov or have them mailed by calling 800-TAX-FORM (800-829-3676).

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Intuit Accountants News Central

New ACE Course Coming Your Way in Late September

Article Post Date

August 9th 2012 by 

The original five Advanced Continuing Education (ACE) courses we launched two years ago will be retiring the last week of September.

Exciting news for Advanced Certified ProAdvisors

The five ACE courses will be replaced with a single 4 1/2 hour course about Time & Material Billing (aka Job Costing), with an emphasis on T&M billing for professional services clients. Job costing is helpful for a variety of clients – not just contractors or professional services, but event/wedding planners, landscaping companies and many more. The topic was suggested and ranked, as well as written and reviewed, by your Advanced Certified peers. The course will go live on end of September

Please note: Unlike Certifications, there will be no sunset period when both the old and new ACE courses are available.

As you know, completing the ACE course(s) are a requirement to keep your elite status as an Advanced Certified QuickBooks ProAdvisor® and Diamond Level member. Here is a list of FAQs to help answer any questions you may have.


Q: My Advanced Certification is about to expire and the new ACE courses aren’t available. How do I maintain my status?

A: Your expiration date has been extended so that no one will expire as a result of this change. The new expiration date will be extended for everyone by 90 days.

Q: I’m in the process of completing the five ACE courses? Should I continue?

A: The choice is yours. You can elect to complete your five ACE courses now or wait until end the end of September and just complete the above mentioned one single course. You are not required to complete both to maintain your status, although you may elect to do so to increase your knowledge.

Q: How do I know when my Advanced Certification is going to expire?

A: The Expiration date is listed in your Course Locker under My Completed Certifications. Look for the title Advanced Certification. The expiration date is listed in that row.

Q: Other than the ACE course(s), do I need to do anything else to maintain my Advanced Certification status?

A: Yes, you must also keep your QuickBooks® certifications up-to-date by certifying annually in the most recent QuickBooks certification.

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About Andi Ancheta

Andi Ancheta has been with Intuit(R) for over 10 years in the Accounting Professionals Division. As a Senior Marketing Manager on the QuickBooks ProAdvisor(R) Program team, she is dedicated to delivering a top notch end-to-end customer experience. When not at work, you can bet that she has Food, Friends and Family in her plans. See all of Andi’s articles…

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A bookkeeper is responsible for processing the paperwork for a company’s business transactions. Ultimately the transactions will be recorded in accounts within the company’s general ledger. Today this often involves the use of cost effective software such as QuickBooks from Intuit.
Bookkeepers are expected to be accurate, efficient, and knowledgeable about debits and credits, the chart of accounts, accounts payable procedures, sales and accounts receivable, payroll, and more. Each bookkeeper’s specific responsibilities will vary by type and size of the business.
The bookkeeper’s role may be expanded to include adjusting entries in order for the bookkeeper to generate income statements and balance sheets from the accounting software.
The bookkeeper’s work is usually overseen by an accountant and/or the small business owner.

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