Monday got you down? Well here is some good news!
We have started a new Youtube Channel and are adding our Facebook Live videos for on-demand viewing! This, in addition to the Facebook page, is another way you can get all the information we share every week!
In other news; Sunbiz has added an automated system that will notify you whenever a business filing has been processed. This added layer of security is to make sure that you can verify changes made to your business. If you receive an email from Sunbiz and you haven’t made a change make sure to call them to protect your business.
Attention; important information ahead!
As of October 15, 2017, Quick Books is changing their prices for their Quick Books online plus and online essentials. One way to avoid these price changes is to contact your local Quick Books Pro-Adviser and see what they can do for you. We here at Business Resource Partner are always willing and able to help you with any of your Quick Books needs. We are well staffed to handle all of your Quickbooks and accounting needs to allow you to continue to work for your business; instead of worrying about the money.
The deadline for tax-exempt organizations is coming up soon, May 15th. We received an article from the IRS regarding Tax-exempt organizations and wanted to take this opportunity to remind you of important factors to take into consideration when it comes to filing Form 990 for these organizations.
What you need to know:
1. Loss of Tax-Exempt Status: Any organizations that do not file annual reports for three straight years will lose their exempt status so it is important to always file. The 2007 Pension Protection Act requires most tax exempt organizations to file Form 990 with the exception of Churches and Church related organizations.
2. NO Personal Info! Do not include personal information such as social security number, information about donors, clients, or benefactors. This could give rise to identity theft since these forms are often made public.
3. File Electronically Whenever Possible: This reduces the risk of including SSNs and other personal information. E-filing also makes the process smoother and quicker with the IRS receiving your information.
4. What to file? Any organizations with an average annual gross receipts of $50,000 or less will file an electronic notice Form 990-N. Organizations with more than $50,000 will file Form 990 or 990-EZ. Private organizations will file 990-PF. If you need to file a six-month extension for your organization, use Form 8868.
5. Check Tax-Exempt Status: The IRS publishes the list of organizations that have lost their tax-exempt status for failure to file for three years. Any organization that wants to have their status reinstated must pay any fees and file an application. To check a status, visit Select Check.
Our staff at Business Resource Partners is knowledgeable in all aspects of tax preparation, our Enrolled Agent is able to represent you to the IRS if needed and we are happy to help with tax preparation, filing and planning.
Call to make an appointment (321) 236-2771 or stop by our office, we look forward to serving you! 310 Almond Street Clermont, FL 34711