Quickbooks Online Price Change

 

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.

Updates and Security

Everyone knows that keeping your computer and anti-virus up to date is important.

What most people miss is that with Microsoft and Windows their products only get updated once a month. With the ever-changing nature of the internet and the endless wave of threats; hacking, malware and ransomware. We recommend using third party anti-virus software to keep your information as safe as possible. There are many options available to you and we would love to discuss these options with you.  BRP-IT recommends using Spybot™ ; this program provides updates once a week for the free version, and multiple updates a day for the paid version!

For additional information see:

www.getcybersafe.gc.ca/cnt/rsks/cmmn-thrts-eng.aspx

www.microsoft.com/en-us/safety/pc-security/updates-faq.aspx

www.safer-networking.org/

 

 

Business Solutions

Heard of the Global Cyber Attacks? Did you know you’re at Risk too?

Reminder! BRP Has an IT Department!

 After serving five years in the United States Marine Corp, Mason Reid is bringing his technical knowledge to you and your business! He is trained in computer, telephone, and network repair.

We are offering a variety of custom IT services for you and your business, including a free diagnostic for your first time!

If you have any questions, or are interested in setting up your first appointment, please call us at (321) 236-2771 or e-mail;

mason@brp-it.com

Our BRP-it manager Mason sent us this awesome article that has valuable information about your computer’s protection and all the risks we face now, and will face in the future. We’re touching on some major points he’s focusing on to keep you updated and keep your information safe.
This article was written by David E. Sanger, Sewell Chan and Mark Scott, for the complete article, visit this page.

You may have heard about the recent cyber attacks that affected large corporations such as FedEx, Microsoft, and many foreign countries. What you may not have known is that it is still a threat to not just your personal computer, but to your business and your clients as well. One of the biggest factors is not being protected properly or updating your malware. Most of the attacks have been outside of the US but there is no telling if this will continue to be the case.

So, what can you do?

Never click on a any suspicious e-mail or links: A hospital had to pay roughly $900,000 to repair a breach that was caused by an employee clicking on an unsafe web link. Doing this opens your computer up to many security risks! Although your cost might not be this high, it can be detrimental to your personal information whether financial, personal, client information, etc.

Update your software and protection regularly: According to the article, British government was spending about $64 million to improve cyber security because most computers were still running on outdated software. It’s that important! Making sure that your computer is as protected as possible is never a waste of time or money. The benefits most certainly outweigh the costs.

BRP-it! Do you know what it is & why it’s important?

Information Technology (IT) is more than just computers and networks! We found this awesome article on LifeWire written by Bradley Mitchell and wanted to share some important points regarding IT and your business.

Information Technology encompasses all layers of all systems from computer hardware to databases and servers including internet and phones. Many businesses and corporations add an IT department which is responsible for:

-Computer tech support
-Network Admin
-Databases and software

-Security of all data and networksAccording to Mitchell, System and Network Security issues are a primary concern for many businesses because this has the potential to cause a security hack and not only damage a company’s reputation, but cost large sums of money to fix. With the advancements in technology, it is important to always ensure that your data and client’s information is secure. Using a trusted professional is a great way to make sure your network protection is secure and up to date.

Business Resource Partners is proud to announce our full service IT Department! Our newest BRP addition, Mason Reid will be the head of our IT division. After serving five years in the United States Marine Corp, Mason is bringing his technical knowledge to you and your business. He is trained in computer, telephone, and network repair.
We are offering a variety of custom IT services for you and your business and have included a flyer with a list of customized services.
For an introductory offer, and to  or to set up an appointment, please give us a call at (321) 236-2771.

Goodbye QuickBooks 2014!

Starting on May 31st, 2017, users of QuickBooks 2014 will not have access to certain features and add-on services. This will include all versions of QuickBooks Desktop (Pro, Premier, Enterprise Solutions, Accountant Edition, and Mac). If you do not use the add-ons, your product will still work but you will not be able to subscribe to live technical support or any other intuit service.

What does this mean for you?

  1. You will need to upgrade to the latest version of QuickBooks as soon as possible if your products are being affected by this change.
  2. Access to the following will no longer be available after May 31st: Desktop Payroll Service, Live Support, Online Backup, Online Banking, etc.
  3. QuickBooks will notify affected customers in advanced by mail or e-mail. Keep an eye out for any additional information or updates that may affect you.
Below is a table provided by Quickbooks that further explains what services will be discontinued
Fully Supported Products Products & Services to be discontinued after May 31, 2017
QuickBooks Desktop Pro & Premier ’15, ’16, ’17
 QuickBooks Desktop Pro & Premier 2014
(General Business, Contractor, Manufacturing &  Wholesale, Nonprofit, Professional Services, and Retail)
QuickBooks Desktop for Mac ’16, ’15  QuickBooks Desktop for Mac 2014
QuickBooks Enterprise Solutions ’17, ’16, ’15  QuickBooks Enterprise Solutions 14
QuickBooks Desktop Accountant ’15, ’16. ’17  QuickBooks Premier Accountant Edition 2014

Image Provided by intuit QuickBooks Online Learn and Support

Business Resource Partners is updated with the latest version of QuickBooks online & Quickbooks Proadvisor for all years and versions. Our knowledgeable staff is ready to help with your QuickBooks Desktop or QuickBooks online needs. Give us a call to schedule an appointment or stop by our office! (321) 236-2771
310 Almond Street Clermont, FL 34711

Visit our Services page to see what BRP can do for your business!

Starting a Business is More Than Just an Idea!!

About two months ago, I met a young man full of enthusiasm to start his own business providing lawn services. The momentum was lost after a few weeks and he abandoned the idea. You may think he gave up, however, it was the capital that dried up. He purchased a used trailer that ended up using all his financial resources in repairs.

Starting any business is more than an idea – it is a combination of the idea, the working capital, the resources, the business environment, and the government rules and regulations. By following the basic startup steps, you are not guaranteed success, however, the likelihood increases significantly when you follow these steps.

  1. Create a Business Plan
  2. Secure financing for your business
  3. Decide on the legal structure
  4. Register your Business
  5. Register for the federal and state taxes
  6. Get your business licenses and permits
  7. Understand your responsibilities as an Employer

 

Contact your BRP Business Development team today to help you with your business startup! (321) 236-2771.

310 Almond Street, Clermont FL 34711

 

“NEW” IRS Collection Tactic

The IRS has sent us an interesting article that will affect many tax payers, we wanted to share this with you before the end of tax season.

Starting this month, the IRS will be using four private-sector collection agencies (PCA) to collect unpaid tax debts on the government’s behalf. This is authorized under a federal law that was enacted by congress in December of 2015. These are tax debts that are not currently being worked on and were assessed years ago. If a tax payer is being assigned to a private firm, there would have been multiple attempts to contact by the IRS in the past years.

  • How is this going to work?

The IRS will send an official letter to the tax payer and his or her tax representative informing them that they will be assigned to a PCA and will be given the name and contact information for the PCA. This mailing will also include a copy of Publication 4518 of what to expect.

Once your letter is sent, the designated private firm will send a letter to the tax payer with information that will assure that the transfer and all future collection calls are legitimate.

Important: The PCA are authorized to discuss payment options and payment agreements. However, all payments must be made directly to the IRS via check, or electronically. Never make a payment to a private firm or anyone besides the IRS or U.S Treasury. For more info on payment options, click here.

For a list of the agencies selected, visit this page.

  • Prepare for phone scams!

There will be scammers who jump at this opportunity to pose as PCA employees. It is important to know that these agencies will only be assigned if you owe money from previous tax years. You will be made aware about these PCAs before you hear from them.

The IRS or PCA will never:

  1. Call to demand immediate payment using a specific method such as prepaid card or wire transfer
  2. Threaten to call local police or other law-enforcement groups
  3. Demand payment without the opportunity to question or appeal the amount owed
  4. Ask for any credit or debit card numbers over the phone

You don’t need to wait for a call or letter from the IRS! It is important to always come forward and pay what you owe, or set up a payment plan. For a list of ways to take advantage of this, visit IRS.gov.Tax filing deadline is approaching soon! Business Resource Partners has an Enrolled Agent on staff who will directly represent you to the IRS if ever needed. We would be happy to prepare and file your business and personal taxes! Give us a call to set up an appointment (321) 236-2771 or visit us at 310 Almond Street Clermont, FL 3711.

Need More Time to Pay Your Taxes?

Your taxes should always be filed on time regardless of whether or not you can pay what you owe. This prevents you from having to pay a penalty.
If you cannot pay your taxes in full by the April 18th deadline, here are four things you should know according to the IRS.
  1. File on time & pay as much as possible:

You have the option of paying online, by phone, or with the IRS2Go App. Visit this page for electronic payment options.

  1. Get Loan or use a credit card to pay the tax:

The interest and penalties by the IRS for failure to pay are higher than the interest rates of a bank or credit card company. For your credit card options, click here.

  1. Use Online Payment Agreement Tool:

Get ahead! Plan for your payments using the IRS Online Payment Agreement Tool. You may also file Form 9465 which is the Installment Agreement Request with your tax return. This allows you to set up a direct debit agreement and not have to worry about sending a check each month.

  1. Don’t Ignore a Tax Bill:

The IRS may take collection action when you ignore a tax bill. The best option is to call the number on the bill and talk about payment options.

Beginning in 2017, all taxpayers using a software product for the first time may need their Adjusted Gross Income (AGI) from their prior year’s tax return to verify identity. To learn how to verify identity and electronically signing your return, visit this page.

For all your present and future tax needs, Business Resource Partners is more than happy to provide you with tax preparation and filing.  Our Enrolled Agent will directly represent you to the IRS if ever needed. Our office also offers Payroll Services, HR, Virtual office space, and more! Call us to set up your appointment at (321) 236-2771, or visit us at 310 Almond Street Clermont FL 34711.

Is Your Personal Information REALLY Protected?

Protecting your personal information such as social security number and finances is always important any time of year, but most importantly during tax time.
We found an article published on the IRS.gov website about protection specific to computers and we wanted to share some key facts.
The IRS says to treat your personal information like cash, don’t hand it out to just anyone. Much of your information can be taken and used to steal your identity and open new accounts. Be wary of websites or people asking for personal information claiming that it is necessary, many scammers will attempt just about anything to get this information from you.
What practical steps can you take to protect yourself better?
  1. Avoid Phishing Scams:
Scammers can pose as banks, credit card companies, IRS, or third party working for governing authorities. Different methods can be used to get your attention such as winning something, urgent personal information update requirements. Never open an attachment or link of a suspicious e-mail. These oftentimes contain malware and can harm or hack your computer and information.
  1. Protect Personal Data:
Do not carry your social security card with you or anything that may include this number. Do not include this number when filling out forms on paper or online. Scammers will ask you to include this number in documents even when it is not needed.
  1. Use Strong Passwords:
When creating or updating passwords to your online data, always use 10-12 characters. Try not to use common information such as important dates or names. Be as unpredictable as possible! Don’t use the same password for multiple accounts and never send these through text or email. Always use a secure Wi-Fi network to prevent other networks from accessing your information.
  1. Use Security Software:
Always have security software installed on your computer. Most come with a pre-installed firewall, but it is important to have one that protects from viruses, Trojans, spyware and adware. Parents, use the parental control options and educate children about suspicious websites and emails.
  1. Back Up Files:
It is important to always save important documents such as tax returns, finances, etc into a removable USB as a back up. Have paper copies to help in the next year’s tax preparation and always keep track of where these are stored and who has access to them.
Business Resource Partners will help with your tax needs including preparation and e-filing. Time is almost out for tax filing! Give us a call or stop by our office to meet with one of our tax prep experts!

5 Overlooked Business Tax Deductions for 2017

We found an awesome article written by Steve Nicastro, a staff writer at NerdWallet. We wanted to share his useful information with you for this, and future tax seasons. For his full article, visit Nerdwallet.com


If you fail to claim your small business tax deductions, you could be losing out on a good amount of money. Deductions are a legal way of reducing the amount of income from your business that is subject to tax.

How can I make sure I’m always on top of this?

Keep a record! Always save receipts, invoices, and any other documents. You can deduct salaries and wages, mortgage interest and taxes, office supplies, repairs and insurance, and depreciation of property. Here are 5 commonly missed deductions.

  1. Home Office Deductions:

If you have a room in your home that you regularly use as a place of business to deal with patients, clients, or customers, you may be able to claim a home office deduction on your income taxes. If you are also using the room as a place for guests to stay, this could disqualify you. For more information about this, visit Home Office Deduction.

  1. Carryovers:

Depending on how profitable your business was, you may be able to carry back the loss 2 years for a refund, or carry it forward up to 20 years to offset your future taxable income. This, however, has many moving parts and it is best to consult a tax professional to look at your specific circumstance. For more on this, the IRS provides comparison methods.

  1. Start-up Expenses:

You may deduct up to $5,000 in start-up costs, and $5,000 in organizational costs. However, both deductions phase out when your total start-up expenses reach $50,000. If you exceed the $50,000, no first-year deduction is allowed and you will need to amortize you costs over the next 180 months of operation.

  1. Losses & Bad Debts:

The IRS defines a bad debt as one that was acquired in your business and became partly or completely worthless. This can include loans to clients, suppliers, employees, distributors, and debts of an insolvent partner. They become bad debts only after you’ve tried to collect the amount due over a reasonable period and have taken the correct steps to do so.

  1. Tax, Legal & Educational Expenses:

Expenses that are necessary and directly related to your business such as fees paid to your accountant and lawyers are deductible. However, legal fees that are paid to acquire business assets are not deductible.

Business Resource Partners understand these and countless other tax prep necessities. Our tax professionals are happy to assist you now, and in the future with your business and tax needs.

Call us at (321) 236-2771 or visit 310 Almond Street Clermont FL, 34711.

We look forward to serving you!