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Home > Business > QuickBooks Gal > QuickBooks Minute - Using Class Tracking in QuickBooks

PODCAST EPISODE

QuickBooks Minute - Using Class Tracking in QuickBooks

QuickBooks Gal


An episode from QuickBooks Gal

8/12/2008 | Download File (1.37 MB)

Welcome to the QuickBooks Minute.I’m Jayne Miller, the QuickBooks Gal Normal 0 false false false EN-US X-NONE X-NONE <w:lsdexception locked="false" priority="62" semihidden="false" unhidewhenused="

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IRs Cracks Down on Independent Contractors  play >

IRs Cracks Down on Independent Contractors

4/11/2010 | Download File (0.16 MB) - right click to download

(CNNMoney.com) -- If your business uses independent contractors, get ready for new scrutiny. Hoping to boost tax revenue, the IRS and many state governments are cracking down on how companies classify their workers.When employers report wages for independent contractors on IRS form 1099, rather than a W-2, they aren't required to pay unemployment insurance, worker's compensation insurance or payroll taxes for them. But the rules governing which workers are genuinely "independent" are strict -- and often flouted....MoreI found this article and think it is a great resource.  Check it out!  Make sure you are in compliance.I'm Jayne Miller, The QuickBooks Gal  Got a QuickBooks Mess?  Call the QuickBooks Gal! Got a QuickBooks Mess? Call The QuickBooks Gal![email protected] Northern Nevada's Only Intuit Solutions ProviderGot Point of Sale? Want Point of Sale?We have live versions in our office Call to schedule a trial demonstration!  775-348-9200 [email protected]

Minimum Wage In Nevada - New Rates, New Rules  play >

Minimum Wage In Nevada - New Rates, New Rules

4/8/2010 | Download File (0.16 MB) - right click to download

The Minimum Wage in Nevada Changes July 1, 2010 Know the RatesKnow the Rules - Employees with paid health care plans – minimum wage is $7.25/hour (previous was $6.55) - Employees without paid health care: Minimum wage is $8.25/hour (previous was $7.55) - Employees with paid health care: get overtime for any time worked over 8 hours in a day if they make less than $10.88 - Employees without paid health care: get overtime for any time worked over 8 hours in a day if they make less than $12.38 General InformationOvertime RulesI'm Jayne Miller, The QuickBooks Gal  Got a QuickBooks Mess?  Call the QuickBooks Gal! Got a QuickBooks Mess? Call The QuickBooks Gal![email protected] Northern Nevada's Only Intuit Solutions ProviderGot Point of Sale? Want Point of Sale?We have live versions in our office Call to schedule a trial demonstration!  775-348-9200 [email protected]

The HIRE Act and How It May Impact Your Business  play >

The HIRE Act and How It May Impact Your Business

3/18/2010 | Download File (0.10 MB) - right click to download

The Hiring Incentives to Restore Employment Act (HIRE), also known as the "jobs bill," is a plan to create jobs by providing a temporary tax break to companies that hire the unemployed. The bill also extends federal highway programs through the end of the year.Current StatusOn March 18, 2010, the President signed the HIRE Act into law. The IRS is now outlining how to handle the Act's provisions. We will continue to monitor the situation, and will update you as final details emerge.The cornerstone of the HIRE Act is a federal program that will provide employers with incentives to hire and retain employees. HIRE will exempt an employer from paying the employer portion of Social Security taxes for the remainder of the year on new hires who are currently unemployed. If those workers stay on the payroll for at least a year, the employer would also get a $1,000 business tax credit per employee.Social Security Tax Forgiveness The 6.2% employer portion of the Social Security tax would be exempt for any qualified individual hired after February 3, 2010 and before January 1, 2011, for wages paid in 2010 to the $106,800 Social Security wage base. Qualified employers may begin claiming this tax credit on the second quarter 2010 Form 941.A qualified individual meets the following requirements:Begins employment with a qualified employer after February 3, 2010, but before January 1, 2011.Has not been employed for more than 40 hours during the previous 60 days. The individual must sign an affidavit attesting to the employer that he was not employed in the previous 60 days, or was employed for no more than 40 hours total.Is not hired to replace another employee unless the previous employee was separated from employment voluntarily or for cause.An employer can save up to $6,622 in employer Social Security tax for each qualified hire. There is no limit to the total amount of tax benefits or hires during this period, so employers will receive greater tax benefits by hiring individuals earlier in the year.Note: The Social Security tax exemption can not be taken in conjunction with the Work Opportunity Tax Credit (WOTC). In other words, if the employer chooses to take the WOTC on a qualified worker, they cannot also take the Social Security tax exemption.Business Credit for RetentionA business tax credit can be claimed by the employer for each qualified individual hired after February 3, 2010 who stays with the employer for 52 consecutive weeks. This business credit will be the lesser of $1,000 or 6.2 percent of the wages paid by the employer to the retained worker during the 52 consecutive week retention period.For the employer to claim this additional credit, wages paid during the previous 26 weeks must equal at least 80% of wages during the first 26 weeks of employment.I hope this info is useful.  I'll have more QuickBooks Tips soon. I'm Jayne Miller, The QuickBooks Gal.  Got a QuickBooks Mess?  Call the QuickBooks Gal! Got a QuickBooks Mess? Call The QuickBooks Gal![email protected]</div

Enterprise 7 Just Crashed - Here's a Link to the Updates  play >

Enterprise 7 Just Crashed - Here's a Link to the Updates

3/17/2010 | Download File (182.49 MB) - right click to download

When I opened my QuickBooks Enterprise 7 today, it crashed once I logged into the company file I wanted to use.  I tried to open it in a sample company and had the same results.  Since I have several clients who use this version of QuickBooks, I was quite distressed.I repeatedly received an alert that I needed to install the latest updates, but when I selected Install Now, nothing happened and the program closed.  Of course, if I skipped the process, the program continued to crash once I entered my password. Then I found the solution:  Download & install the updates manually.  That did the trick!  I am not sure why the update installer stopped working, but it did.  If you are having the same problem, try the manual installation of the most recent updates.  Thanks to this fix, I am back in business!I hope this info is useful.  I'll have more QuickBooks Tips soon. I'm Jayne Miller, The QuickBooks Gal.  Got a QuickBooks Mess?  Call the QuickBooks Gal!  Got a QuickBooks Mess? Call The QuickBooks Gal![email protected] Northern Nevada's Only Intuit Solutions ProviderGot Point of Sale? Want Point of Sale?We have live versions in our office Call to schedule a trial demonstration! 775-348-9200 [email protected]

COBRA Subsidy Information  play >

COBRA Subsidy Information

4/22/2009 | Download File (0.44 MB) - right click to download

IRS Releases Information to Help Employers Claim COBRA Medical Coverage Credit on Payroll Tax Form IR-2009-15, Feb. 26, 2009 WASHINGTON — The Internal Revenue Service today released new detailed information that will help employers claim credit for the COBRA medical premiums they pay for their former employees. The IRS unveiled new information on this Web site, IRS.gov, that includes an extensive set of questions and answers for employers. In addition, the Web site contains a revised version of the quarterly payroll tax return that employers will use to claim credit for the COBRA medical premiums they pay for their former employees. Form 941, Employer’s Quarterly Federal Tax Return, will also be sent to about 2 million employers in mid-March. The form is used to claim the new COBRA premium assistance payments credit, beginning with the first quarter of 2009. “This is the first step in our effort to provide employers with information on this important health benefit for people who have lost their jobs,” said IRS Commissioner Doug Shulman. “We will continue our work in the weeks ahead to help employers implement this crucial change for the nation’s unemployed.” The American Recovery and Reinvestment Act of 2009, which became law last week, includes changes to the health benefit provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985, commonly referred to as COBRA. The new law will affect former employees and their families, employers and others involved in providing COBRA coverage. Under the new law, eligible former employees, enrolled in their employer’s health plan at the time they lost their jobs, are required to pay only 35 percent of the cost of COBRA coverage. Employers must treat the 35 percent payment by eligible former employees as full payment, but the employers are entitled to a credit for the other 65 percent of the COBRA cost on their payroll tax return. Employers must maintain supporting documentation for the credit claimed. This includes: Documentation of receipt of the employee’s 35 percent share of the premium. In the case of insured plans: A copy of invoice or other supporting statement from the insurance carrier and proof of timely payment of the full premium to the insurance carrier. Declaration of the former employee’s involuntary termination. COBRA provides certain former employees, retirees, spouses, former spouses and dependent children the right to temporary continuation of health coverage at group rates. COBRA generally covers health plans maintained by private-sector employers with 20 or more full and part-time employees. It also covers employee organizations or federal, state or local governments. It does not apply to churches and certain religious organizations. The new COBRA subsidy provisions also apply to insurers required to offer continuation coverage under state law similar to the federal COBRA. More information about COBRA payments and the new law is available on www.dol.gov.If you are using Point of Sale or you're looking for Cash Register Solutions, call us - we're QuickBooks Point of Sale Solution Providers. Call us for all Your Point of Sale Needs! 775-348-9200 Point of Sale [email protected] Business Solutions1755 E Plumb Lane, Ste 101Reno, NV 89502<span style="font-style: ital

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