Payroll and Quarterly Sales & Use – Here They Come Again

It’s time for quarterly payroll and quarterly sales and use tax filing! Both returns are due on or before October 31st.

If we prepare these returns for you, please get us your information in advance of the deadline so that we can get them squared away as soon as possible.

If we don’t prepare your returns for you and you have any questions or struggle with them at all, we are more than happy to provide that service to you. Call or email today!

Personal Property Declarations are due by November 1st, 2014.

Personal Property Declarations must be filed with your Town’s Assessor by November 1st, 2014. Not sure if you are subject to this deadline? If you are a business owner who has any tangible personal property used in a business, then you must file this form with your town of business. Examples of “tangible personal property” would include, but not be limited to, computers, office furniture, equipment and signage. This does not include registered automobiles, trailers, boats and airplanes. If you have not received your form in the mail, you should obtain the Personal Property Declaration forms at your Town Assessor’s Office.

If we complete this form for you, we would ask that you have the form to us by October 15th in order to ensure timely filing. There are hefty penalties associated with late filing – an estimated assessment plus a 25% penalty. Also, please be sure to provide a list of any assets purchased or disposed of during the period of October 1st, 2013 to September 30th, 2014. If this is the first year we are preparing this form for you, we need your prior year form as well.

If you prepare this form yourself and have questions, we are always here to help!

Surprise! Your Private Student Loan Has Been Paid

Think good Samaritans don’t exist? Think the lottery only applies to Powerball? Not so! Rolling Jubilee, a subsidiary of Strike Debt, are selecting people at random and forgiving their private student loan debt.

Rolling Jubilee has erased over $3.5 million dollars in private (not federal) student loan debt. They have taken advantage of a quirk in the life of debts and, using donations raised online, buy debts that are sold at deep discount prices (as low as three cents on the dollar) once they are categorized as delinquent and pay them off! The lucky recipients are notified by letter that their debt is gone and the yoke of debt is lifted. They have also purchased and erased $15 million dollars of medical debt, another arm of the debt octopus dragging down a significant percentage of the population.

Strike Debt formed out of the Occupy Wall Street movement and its philosophy on the loan debt tragedy is that everyone is morally entitled to education (medical care, etc) without having to be crushed under the demands of a private loan system.

They may not be able to eradicate the trillions of dollars of student loan debt for everyone, but the next person they help could be you!


Guess Who’s Playing Catch-Up with MJW EA & Company LLC?

H&R Block has recently announced that it will add accounting services to provide bookkeeping, payroll, tax and coaching to small businesses. They will also start to help set up systems for clients and answer questions

Sound familiar?

Right now, they’re only offering this service in Kansas City, but planning on gradually branching out to other parts of the country. They’re also touting a scanner clients can use to submit their documents for business, ostensibly to make the process easier for the client.

We’ve got something a little handier for our clients:

Introducing TaxPocket! MJW EA & Company LLC is now linked with TaxPocket, an app for your smart phone. Take a look at the options and features Tax Pocket affords its users – and it’s free!

“TaxPocket means no more guessing. Finally you can painlessly record all your tax-related expenses and report them securely to your preparer. Keeping accurate records means you’re less likely to be a target for an IRS audit, too. TaxPocket for iPhone and android makes your phone a personal assistant collecting, organizing, storing, and sending your yearly records. Features include:

• Mileage Tracker
• My Tracker
– Business Expense Tracker
– Medical Expense Tracker
– Childcare Expense Tracker
– Charitable Donation Tracker
• Manage Expense Tracker from any mobile device
• One-Touch Dialing/Emailing to Your Tax Professional
• Calendar With Important Dates Provided by Your Tax
• Coupons and Special Promotions from Tax Professionals
• Secure Records Transfer to Your Tax Professional
• And Much More!

No other app on the market brings all these features together into one convenient location with the added benefit of a direct connection to YOUR tax professional.”

You can collate all the information you want and export it directly to us! This saves you the hassle of trying to gather all your mileage or receipts at the end of the year and perhaps missing something.

MJW EA & Company LLC has been there for our small business clients and will be there with them as they continue to grow.

Now Hear This!

Mary Jo has collaborated with Ann Nyberg’s Network CT and if you click the link below, you can check out the interview she gave to Mike Maguire with tips, advice and anecdotes from the tax professional realm.  Mike Maguire is a seasoned CEO and is considered an authority on corporate strategy and integrated direct marketing.  He is also heavily involved with local charitable organizations.


Click here to listen to the podcast.