A tax and business planning newsletter for our valued clients and friends. Subscribe for our future newsletters via our website at www.elacllc.com
We are off to a great start in 2015 and hope you are as well!
Erin Long Accounting and Consulting is now ELAC. We are excited to have our new name and logo on our signage and marketing materials. We hope you like the new look!
ELAC is committed to helping you grow your business and become more profitable. In this issue, we will highlight the 2015 tax deadlines, answer some of your frequently asked questions and give you some shortcut tips for QuickBooks.
“Thank You” for being our client, and a BIG “thanks” to all of you who have referred your friends and family to us!! Please keep the referrals coming and remember; we’re always here to help!
2015 Tax Deadlines
(Not all may be applicable to you or your business, call your Trusted Business Advisor at ELAC with any questions you might have!)
- 4th Quarter 2014 Payroll
- Furnish Form W-2, 1098 and 1099 to recipients
- Furnish Forms 1099B, 1099S and certain form 1099MISC to recipients
- File Form W-3 with copy A of W-2s issued for 2014
- File Form 1096 with Forms 1098, 1099
- File Form WH-1612 with Copy 1 of W-2s
- File calendar year Form 1120 or 1120S (Corporate Tax Return), or extend
- File calendar year Form 1065 (Partnership) and furnish Schedule K-1, or extend
- File Form 1040 (Individual), or extend
- Individual and calendar year Corporations: 1st Quarter 2015 Estimated Tax
- File calendar year Form 1041(Trust/Estates), or extend
- 1st Quarter 2015 Payroll Tax Returns
- Individual and Corporation 2nd Quarter 2015 Estimated Tax Payment
- 2nd Quarter 2015 Payroll Tax Return
- Form 5500 or 5500EZ for 2014 employee benefit plan
- Individual and calendar year Corporations: 3rd Quarter 2015 Estimated Tax Payment
- Extension deadline for 2014 Partnerships, Corporations, and Trust/Estate Tax Returns
- Extension deadline for 2014 Individual Tax Return
- 3th Quarter 2015 Payroll Tax Returns
- Corporations: 4th Quarter 2015 Estimated Tax Payment
Jan. 15, 2016:
- Individuals: 4th Quarter 2015 Estimated Tax Payment Due
Feb. 2, 2016:
- 4th Quarter 2015 Payroll Tax Return
Frequently asked Questions and Answers:
Q: Have we moved locations?
A: No, we are still located inside the Olde Lexington Towne Center shopping plaza at 506B Old Lexington Hwy in Chapin, SC. We now also have an office in Charleston, SC, located at 4000 Faber Place Drive, Suite 300.
Q: What services does ELAC offer?
A: ELAC offers the following services:
- Tax Planning
- Individual & Business Tax Returns
- Payroll / Payroll Taxes
- Sales Tax / Solid Waste Tax
- Business Valuations
- Financial Statement Compilations/Reviews
- CFO Services
- Business Consulting
- IRS/SCDOR Tax Issues Resolution
- QuickBooks Training
Q: What is the expected turn-around time for an individual tax return?
A: If we are provided all of the necessary information, our goal is to provide you with your completed tax return within 2 weeks.
Q: What is the expected turn-around time for a business tax return?
A: If we are provided all of the necessary information, our goal is to provide you with your completed tax return with 3 weeks.
Q: On the tax organizer, there is a section on health insurance which asks me to provide a copy of Form 1095-A, 1095-B, and 1095-C. What are these forms?
A: Forms 1095-A, 1095-B, and 1095-C are forms that are part of the Affordable Care Act. You would receive a form 1095-A if you or a family member enrolled in health insurance coverage through the Health Insurance Marketplace. This form is used to complete Form 8962 for a premium tax credit. Form 1095-B and 1095-C are forms reporting information about individual and employer provided health insurance coverage. If you have health insurance and did not receive either of these forms, please provide us with the information on the health insurance provider.
Q: Can I pay my bill online?
A: Yes. To pay your bill online, visit our website at www.elacllc.com. On the top right hand corner, click on “Make a Payment.” Enter your invoice number and the payment amount and click pay now. You will then be prompted to enter your card number and contact information.
Q: I would like to send you a secure file. How do I upload it?
A: You can upload a secure file through our website. Visit www.elacllc.com. On the top right hand corner, click on “Client Portal” and then “Send a secure file.” You will then enter your contact information and click “Continue to file drop.” You will now be able to browse and select the file you wish to send.
Q: What is the easiest way to get an appointment?
A: For appointments, please contact ELAC at (803) 629-8978 or via email at email@example.com
Are you searching for ways to simplify processes and fit everything in on your plate? If so, here are a few QuickBooks tips that could help:
- Ctrl-I – Create an invoice
- Ctrl-E – Edit transaction selected in register
- Ctrl-F – Find transaction
- Ctrl-J – Open Customer Center
- Control-M – Memorize transaction or report (when in report)
- Ctrl-N – New invoice, bill, or check (when in respective window is open)
- Ctrl-Q – QuickReport on transaction or list item (in appropriate window)
- Ctrl-T – Open memorized transaction list
- Ctrl-W – Write a new check
- Call ELAC for immediate help, or to schedule training for you, or your staff
Please let us know how we can help you and your business! ELAC is here for you, and passionate about helping you be your best! Check out our new and improved website: www.elacllc.com