Why You Need EFTPS Software

Business 103 Payroll Inserts
Business 103 Payroll Inserts (Photo credit: kevin dooley)

Why You Need EFTPS Software

When looking for a service to handle your payroll system, you should look for a system that uses good software like EFTPS software. Payroll services use software to not only keep payroll information safe and organized but also to handle tax information whether it is handled throughout the year or send out all tax information in January. For instance, it can perform quarter-end processing as well as payment processing among many other functions. In fact, if you need to look at reports such as year-to-date analyses, you can very easily perform these functions within a good software program.

Of course, there are also many other benefits to using EFTPS software to organize a payroll system. This system can schedule payments on time, which is essential in running any organization. You may also create e-file tax returns, e-signed papers and magnetic media disks that can be submitted directly to tax authorities. A good software program will help you take control of your payroll in areas other than taxes as well. When you can identify variances between deposits and liabilities, you can balance them more quickly. You can also take steps to make sure you keep your books balanced in order to avoid problems.

Mergers and Acquisitions and Their Tax Consequences

Friendship barnstar
Friendship barnstar (Photo credit: Wikipedia)

Mergers and Acquisitions and Their Tax Consequences

Has a chemical M&A department contacted you to see if you would be interested in a merger? The other company is going to make it sound like it is all in your best interests, showing how joining forces gives you both the ability to reach more customers and make more sales. However, there are some important questions to ask before you go forward with this process.

First of all, you need to know who is going to be in charge. Are you going to be surrendering complete control of your company or will you still be allowed to make some decisions? You always need to know what your role is going to be in order to ensure that it is something that you want to do.

Next, ask how this merger will specifically help you. Do not take generic answers about how it will make things easier or more profitable. Look for the specific ways that the merger can help. Look at exactly what the other company can do for you that you cannot do for yourself.

Finally, you need to find out what is in it for you in the short term. Are they willing to buy you out, giving you a lump sum right at the beginning? Are they only offering you the benefit of earnings in the future, banking on the fact that it will all work out? You should know what you stand to get in the short term and in the long term before you agree.

Filing Free Taxes Online: What You Need To Know

Filing Free 2012 Taxes Online: What You Need To Know

Are you interested in filing free 2012 taxes online? If so, you should know that TurboTax 2013 is the very best way to do it. This program makes it easier than ever to figure out your taxes so that you will not have to pay to go to an expensive CPA. Do you want to take home more of your return this year? Do not give it to someone to do work that you can do from your home computer. TurboTax comes with a number of features that are designed to make things simple for anyone, even if you do not have tax experience or education.

English: Logo of the Owner-Free Filing System ...
English: Logo of the Owner-Free Filing System / OFFSystem / OFF. (Photo credit: Wikipedia)

First of all, when you begin filing free 2012 taxes online, you get the option to save your work at any point. As you probably know from trying to sort through your taxes in the past, this whole process can take hours. Maybe you just want to use TurboTax 2013 for an hour a night, taking two or three days to get done. If you do not have a lot of free time between going to work and spending time with your family, you can just put in the time that you have and then save your work to pick it up later. You can cater the filing process to your schedule.

Next, you should know that filing free 2012 taxes online means that you do not have to print anything out, buy postage, and mail it to the IRS. You can use TurboTax 2013 to file electronically, which takes just seconds. This eliminates the risk of your paperwork getting lost in the mail and means that you could see your return much sooner than you would with the traditional process.

Finally, filing free 2012 taxes online means that you get to use powerful software that walks you through the process. Everything is phrased as a question, making it easy to understand. If you are still confused, TurboTax 2013 comes with an entire help section for clarification. No longer will taxes be the confusing mess that the paper forms have been in the past.

Intuit Expected To Announce Lackluster Quarterly Earnings

Intuit Expected To Announce Lackluster Quarterly Earnings

Intuit is preparing to announce its quarterly earnings on May 21. Recently, the company softened its earnings outlook in a note to shareholders. Investors won’t treat the company very well when it announces lackluster earnings. That doesn’t mean Intuit has lost its value for investors, though. These days, the parent company of TurboTax still has room to grow. It’s already planning changes in the coming years, too. Like my favorite local company, Hollier’s Flooring America in Lafayette, Intuit is able to adapt and offer great products every year. And this last year was no different.

The headquarters of Intuit Inc. in Mountain Vi...
The headquarters of Intuit Inc. in Mountain View, California (Silicon Valley). (Photo credit: Wikipedia)

Intuit earnings for the previous quarter are likely to take a slight dip. A lower volume of processed tax returns was cited as the cause for the impending dip in revenue. Of course, tax preparation is a huge industry with tons of competition. TurboTax isn’t the only company that offers free and paid returns either. By expanding beyond this industry, Intuit earnings and growth can continue.

Luckily, Intuit is already pushing projects outside of TurboTax. The company wants to appeal to businesses on top of consumers in order to boost Intuit earnings. Payroll services and mobile banking applications are prime targets for Intuit. By moving into these segments, revenue can be boosted with a new segment of customers. Success isn’t guaranteed with this bold moves, though.

Intuit’s quarterly earnings might falter, but the company shouldn’t be counted out yet. Sure, most of its revenue is generated by TurboTax, but the company holds enough resources to branch out elsewhere. Investors should stick with the company while it transitions to other projects. TurboTax will always be its main source of income. In the end, other projects can rake in the money, too.

Consumer Reports Releases Tax Tips

2013 Tax Tips

Consumer Reports is a trusted source in products and services.  They recently released their tips for 2013 taxes, which are about online and computer tax services.  These tips help consumers not get caught up into any questionable tax services and help them save money when filing their 2013 taxes.  Consumer Reports offers the following tips for 2013 taxes:

Consumer Reports
Consumer Reports (Photo credit: Wikipedia)

• Check what the online service has available.  Simple forms like the 1040, 1040EZ, and Schedule A for itemized deductions are provided by most online tax services.  However, if you need a more specific form, schedule, or topic, certain online tax providers may not have it available.  Some tax services do not help consumers who have farm income, adoption expenses, foreign income and various other uncommon tax issues.

• Make sure the service supports your state taxes.  Paying for a tax service that will be unable to file your state taxes is not worth your time or money.  Check for this before paying for a service.

• Research the tax company prior to using their service.  Use a search engine like Google or Bing to see what other consumers are saying.  You can also check other sites like the Ripoff Report or Pissed Consumer.

• Check prices.  Compare the prices of different services.  Many online tax services charge more than just a flat rate fee.  Some charge for paper copies of your taxes or to file an extension.  Others charge more as the tax deadline draws closer.

• If possible, stay away from additional advertisements in the form of pop-ups.  Many online tax preparation services will bombard you with pop-ups trying to convince you to upgrade your service at a cost.  You can avoid these solicitations by using the IRS Free File service.  This program is designed for those with an adjusted gross income of $57,000 or less.  To find out more information on the program, visit the IRS website.

Using these tips provided by Consumer Reports will help you choose the right tax service for your situation.  They will also help you to save money when preparing your taxes and decrease the chances you will pay for something you do not need.  In addition, they can help you avoid potentially shady tax services.

Super Saturday In Ohio: Day Of Help For Filing Taxes

Day Of Help For Filing Taxes

Super Saturday is a day of help in Ohio for residents in need of help filing taxes. Formerly known as the Franklin County EITC Coalition, the Tax Time Coalition of Central Ohio is ready with professionals in the tax business to help others in need of their services.

The 2013 tax-prep program is funded every year by the Franklin County commissioners. This year, $75,000 was released to support the event. Tax Time serves an estimated 400 families on Super Saturday, with many qualifying for the Earned Income Tax Credit.

English: The headquarters of Intuit Consumer T...
English: The headquarters of Intuit Consumer Tax Group at the northern end of San Diego. This is where Intuit develops its flagship tax return preparation product, TurboTax. (Photo credit: Wikipedia)

Franklin County is home to many low income households who appreciate the help when it comes to finding refunds. With 25 percent earning less than $25,000 a year, any amount of tax credit refund is welcome.  Super Saturday will be held this year at Columbus Downtown High School at 364 S. 4th Street from 9 a.m. to 5 p.m. Reserving a time in advance is suggested by dialing 211, but residents are free to drop by at their convenience.

Super Saturday will also be host to the Kindergarten-readiness assessments, mobile health van, and a financial resource fair. Residents will get information on banking services, repairing damaged credit, financing college, and other benefit screenings.

If you are a professional tax preparer and would like to volunteer your time on Super Saturday, please register at www.taxtimecentralohio.org