Accounting Services Archives - Denise Cataldo, CPA - a metrowest business accounting firm specializing in QuickBooks & Tax Prep advice serving Sudbury, Westboro, Southboro, Wayland and more

How a Forensic Accountant can help you in a divorce

A forensic accountant is used in a legal setting to provide vital financial information.  In a divorce matter, we work closely with your attorney both during the discovery phase and if needed during trial. Using various types of documentation, both business and personal such as tax returns, bank statements, credit card statements, etc.,  a specialist […]

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Massachusetts Minimum Wage for 2015

Minimum wages in Massachusetts will increase from $8.00 per hour to $9.00 per hour effective January 1, 2015. In addition the service rate is also increasing from the current $2 per hour to $3 per hour starting January 1, 2015. The law also increases the minimum wage for agricultural employees in Massachusetts to $8 per […]

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Change In Responsible Party

Here is an article recently published in The Tax Advisor about a new IRS form that needs to be completed when there is a change in the personal who is considered the “responsible party”. The definition of which is below. Change in “Responsible Party” Must Be Reported to the IRS by Debera Salam, Houston, and […]

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Massachusetts Repeal of the Computer and Software Service Tax

 Recently, the Massachusetts legislators retroactively repealed the computer and software service tax that went into affect on August 1, 2013. So the question now is what do companies do that collected this tax? Here is two possible situations: 1. Vendors that collected the tax but have not remitted the tax – These vendors must make […]

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Similarities between your CPA and your golf caddy

Similarities between your CPA and your golf caddy:  1.  Trust is important in both relationships  2.  Both provide advice but the final decision is always yours  3.  Both should understand your strengths and weaknesses  4.  They need to understand the rules under which you operate your business  5.  Your success contributes to their success  6.  […]

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NEW TAX INFO FOR 2013

    NEW TAX INFO FOR 2013     Social Security News – Social Security Administration announced that recipients will receive an increase of 1.7% in 2013. Some recipient’s increase may be partially or completely offset by increases to their Medicare premiums. Another change that will be effective January 2013 is the amount of taxable earnings subject […]

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NEXUS

In today’s day of technology growing your business has become easier.  Creating an internet site which allows businesses the ability to attract customers from across the country is common today.  Business growth and expansion often includes plans to either ship products to other states or expand into neighboring states.  This sounds great but what many […]

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KEEPING GOOD ACCOUNTING RECORDS

KEEPING GOOD ACCOUNTING RECORDS     It always amazes me at how many business owners just pay bills and then discard the bill.   Here are a few pointers to keep in mind regarding your business accounting records.  1.  When the IRS conducts an examination, they frequently ask for canceled checks.  Many small businesses no longer […]

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Common Payroll and Employment Issues/Questions

Common Payroll and Employment Issues/Questions   Many businesses don’t have their own human resource department.  I know I don’t.  Owners are not always aware of all the different rules that accompany having employees and preparing payroll.  Hiring an outside service to prepare the company payroll and handle the appropriate tax filings is a step in […]

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Business Identity Theft

                                    Business Identity Theft   Recently, a bookkeeper was updating the company checking account in QuickBooks and found several checks totaling close to $12,000.  All the checks were made out for amounts in excess of $2000 each and cashed against the company checking account.  The problem was no one in the company issued these […]

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