July / August 2010
Can Hiring New Workers Actually Pay You?
Like you, many businesses are waiting for some incentive to hire new workers in this economic downturn. Fortunately, the recent Hiring Incentives to Restore Employment (HIRE) Act provides a 6.2-percent special payroll tax incentive which basically exempts the employer’s share of the social security tax. For you to be eligible, you must hire a qualified unemployed worker who has worked fewer than 40 hours in the previous 60 days this year (after February 3, 2010 and before January 1, 2011). A qualified unemployed worker is an individual that is not related to the employer and is not hired to replace another employee. The newly hired employee must sign a statement, under penalty of perjury, that they meet the above requirements.
Don’t want to wait for the credit? Don’t worry! The IRS will allow you to begin receiving this benefit on your second quarter (calendar year) 941 form. This offers a quick and easy way to hire the employees you need and get the tax credit at the same time.
To make this incentive better, if these qualified employees are retained for at least a year and their wages do not significantly drop in the second half of 2010, you may claim a new hire retention credit of up to $1,000 per worker on the company's 2010 income tax return.
So if you’re thinking about hiring employees, consider these benefits and let us know how we can help you begin saving on your taxes.
Overwhelmed by email? Here’s how to simplify.
Like it or not, email has become the primary communication tool of the business world. Typically, the email application is left open throughout the day and users are in and out of their inbox, scanning for their next to do item.
Unfortunately, this creates an environment where interruption occurs frequently due to the constant “ding” of message alerts. Furthermore, recent reports indicate this constant email checking results in greater stress & loss of focus.
So what’s the solution?
First, set specific times for checking email. This allows you to establish a work environment with less interruption and greater focus. A great way to set this up is to use the Scheduled Tasks feature built into Microsoft Windows (XP/ Vista/7). By scheduling when the email application will open, you create an automatic reminder so you never have to worry about forgetting to process messages.
Second, turn off your email application. Once you’ve processed your email at one of your set times, close the application. Open it only if there is an urgent email that you need to send immediately. Otherwise, make a separate note and send the message during your next processing period.
Third, let others know that you will only be checking emails during specific times and give them a phone number where they can reach you in case of a real emergency.
Please click here for information about our Business Advisory Solutions.
(See ebook below for additional discussion of the above topic)
The Low-Information Diet: How to Eliminate E-Mail Overload & Triple Productivity in 24 Hours
We are excited to announce the addition of a new shareholder to Fuller Frost and Associates. After working on staff for eight years, Chris Etterlee became a shareholder in January 2009. To learn more about Chris, please click here.
We welcome the members of the firm formerly known as Yates & Luckey, CPAs, to the Fuller Frost family. They have been a wonderful addition and we are excited about the skills and experience they bring to our firm. These individuals are: Ray Yates, CPA,
We also want to welcome other new members to our staff: Colby Babb, CPA, Kaleigh Blue,
The members of Fuller Frost take pride in improving both their professional skills and the community they serve. Recent achievements include:
- Chris Etterlee was recently featured in the June 2010 ASU Alumni Columns
- Congratulations to Colby Babb for obtaining his CPA license from the state of
- Congratulations to Nicole Tilley as a 2010 graduate from
Upcoming Seminars & Conference Calls
Did you know that Fuller, Frost & Associates offers a free informational seminar or conference call each month? Seminars and conference calls will include a variety of topics.
Here are the upcoming events for August & September:
August 18, 2010: 11:30 am – 12:00 pm
Conference Call: “Tax Planning, What Should I Have Done?"
Speaker: Mr.
September 22, 2010: 11:30 am – 12:00 pm
Conference Call: “What Everyone Should Know About QuickBooks"
Speakers: Mr. Dan May & Mr. Abe Newton, Professional Staff of Fuller, Frost & Associates
For more information, please click here
Essential Dates to Remember…
Below is a list of important upcoming dates you may need to remember:
July
- 15th: Payroll tax deposits due (monthly filers)
- 20th: Sales & use tax returns due
- 31st: Payroll tax returns due
August
- 15th: Payroll tax deposits due (monthly filers)
- 20th: Sales & use tax returns due
Did you know that a calendar of these important dates is always available to you?
You can find a full calendar of important dates right on our website. Simply bookmark our calendar page.
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