Archive for January, 2012

Top 5 To-Dos for Small Businesses to Complete by January 31st

Written by Natasha Goncharova on . Posted in Accounting, Blog, Finance, HR

The important date of January 31st is almost upon us, the day when the IRS requires all businesses in the US to mail W-2s and 1099s to their employees. To make sure you’re on time each year, follow these few simple rules:

1. Collect SSNs or EINs (Employer Identification Number) and current addresses from your employees and contractors.

2. Reconcile books and payments via cash, checks, and direct deposits.

3. W-2: In most cases, your payroll service provider should automatically create W-2s so you will just need to check them, print, and mail. Otherwise, you will need to use Intuit Forms and print them.

4. 1099: Instead of using pre-printed 1099 forms and wasting time on positioning them correctly in your printer, consider using one of these services:
Intuit — $39 for an unlimited number of 1099 forms
Wagefiling.com — $3.49/form
• If you search for 1099 on the IRS page of the recommended e-filers, you will find other options, most of which will be more expensive if you want to e-file in addition to printing the 1099s.

5. Be aware of Form 1099-K

Beginning with tax year 2011, the IRS requires businesses to exclude from Form 1099-MISC any payments made by credit card, debit card, gift card, or PayPal. For information about the IRS requirements, review the IRS Final Regulations on Payment Card Reporting.

This means the amount you record on Form 1099-MISC must equal the total amount you paid the contractor minus any portion you paid by credit card, debit card, gift card or PayPal.

Any amounts you paid using these other methods of payment must be reported to the IRS, not by you, but by the credit card company, the debit card company, gift card company or PayPal using Form 1099-K. You do not need to report these amounts on Form 1099-MISC.

The deadline for this year is only one day away so if you haven’t started yet, get going!

How to Scan Business Cards and Set Google Calendar Follow-up Reminders (iPhone)

Written by Michael Tauscher on . Posted in Blog, Calendar & Scheduling, Google, Productivity, Workflow

By using the ScanBizCards Lite (read: free) app available for iPhone and Android, you can easily set up automatic reminders so you never forget to follow up on newly made connections. Here we’ll present a full walkthrough for the iPhone though the same app is available for Android and thus this process can probably be completed in a very similar fashion on any Android device.

1. Adding your Gmail account as an Exchange account
(note: also see this Google tutorial for more info)

To accomplish this you’ll want to navigate to Settings > Mail, Contacts, Calendar > Add Account… > Exchange


Once you’re prompted to enter your account information, put your full Gmail address as both Email and Username e.g. info@financealpha.com as well your password in the password field

Next you’ll be prompted to input a server, here you’ll want to enter m.google.com


Don’t worry about the Domain field, you can leave that empty

2. Configuring your Gmail Exchange account for calendar sync

Once your Gmail account has been successfully added as an Exchange account, navigate to Settings > Mail, Contacts, Calendar > Fetch New Data > Advanced > Exchange (or whatever name you have for the account) > select ‘Push

Next, navigate to Settings > Mail, Contacts, Calendar > Default Calendar and change your default calendar to your Gmail Exchange account e.g. info@financealpha.com


3. Download the ScanBizCards Lite app (free) 

An app store search for ‘ScanBizCards’ will easily find the app, available for both iPhone and Android


4. Scan a business card using the ScanBizCards app

Open the app and select ‘Camera’ to scan using the iPhone’s built-in camera. Try to center the image and make sure that there are no shadows across the face of the business card if possible.

Once the scan is complete, you will have the option to manually fix any mistakes that the scanner might have made. Once all mistakes have been corrected, select ‘Add to Address Book’ then ‘Done’.

You will then be prompted with a number of options, select ‘Add Follow-Up Reminder’. Here you can set when and how you would like to be reminded to follow up with your new contact. When you have finished setting your reminder, select ‘Done’.

5. Calendar sync complete!

Your follow-up event will now be visible on both your iOS calendar and Gmail calendar (remember: only the calendar set as default will display the event). Changes made within either calendar will now be reflected in the other.

Follow

Get every new post on this blog delivered to your Inbox.

Or subscribe to the RSS feed by clicking here:RSS