Caltory Management Solutions

 

 

 


 

Retired!


Caltory Management Solutions ceased operations upon the retirement of its principal in 2015. We thank everyone who supported the company and used its services.

Bookkeeping services included:

  • Full charge bookkeeping
  • Setup and training in QuickBooks Accounting Software
  • Setup and training in QuickBooks Point of Sale Software
  • Payroll Preparation,
  • Payroll Tax Remittance and Reporting
  • Sales Tax Remittance and Reporting
  • Integrated Inventory Management Systems
  • Reconciliations
  • Data file repair and cleanup

Services included on-site and remote/online data entry, reconciliations, and report generation.


Marketing


Communications and Media Presentations. Get your message through to potential clients and financial agents with suitable and effective marketing.

Financing


 


QuickBooks OnlineAdvanced QuickBooks ProAdvisorIntuit QuickBooks ProAdvisorQuickBooks Point of Sale ProAdvisorAIPB

SMALL FIRM AUDITS ARE UP


The IRS audit rate is down, but not for small firms! The IRS doesn't list taxpayers most likely to be audited, but what tax professionals-including IRS officials-are seeing and Tax Court cases indicate, very small firms are more vulnerable to audit. This is particularly so for companies with large vehicle write-offs, Schedule C losses, real estate rental income, and home offices. Maintaining accurate books is more important than ever.

BE CAREFUL SUBMITTING WITHHOLDINGS


When you deposit 941 taxes using EFTPS, your screen shows separate lines for FIT withheld, FICA, and Medicare amounts being deposited. These lines only compute the total amount owed, they do not allocate amounts. If a deposit is short, the IRS has the authority to decide how much goes where. A caution notice appears on the screen, but it is often misunderstood. Don't ignore it!

DID YOU KNOW?


If a 941 FIT liability is not paid in full, the company is liable. Further, if a 941 FICA liability is not paid in full, the IRS can seek remedy from the "responsible person," which may be the bookkeeper.

10 Ways A ProAdvisor Can Help Your Business

  1. Implement an effective chart of accounts.
  2. Insure accuracy of reports.
  3. Be available for training and questions.
  4. Handle unfamiliar accounting entries.
  5. Resolve payroll issues.
  6. Avoid tax penalties.
  7. Find and correct erroneous entries.
  8. Follow job costing and profitability.
  9. Integrate third-party software.
  10. Keep current with updates.

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