Payroll and Sales Taxes

If you have employees or sell tangible products i.e.: clothing, food, books, internet sales and many other items. As a business owner you may be required to file tax reports with the IRS, Franchise Tax Board (FTB), and/or the Board of Equalization (BOE).

If you have employees you need to make

sure that your payroll provider (Like Myself) is filing your quarter Tax reports to the IRS and the FTB. 

If you buy materials & supplies that helps produce the product that you sell, you can get a re-sellers permit so you do not have to pay sales tax to that vendor.

If you are selling a tangible product, then you are required to report your sales tax
to the Board of Equalization (BOE) and pay sales tax to them.

Do you sell in the city of El Cajon, La Mesa, Vista or National City in San Diego County? If so, there is an additional form you need to fill out to adjust the extra sales tax.

Give us a call 619 -726-1158 for a quote on your payroll services. We can help you get set up with the IRS, Franchise Tax Board and/or the Board of Equalization (BOE).

Keeping you connected and on top of your business is another piece to the puzzle. We can help you see the bigger picture. 

Importance of staying on top of your Bookkeeping

Are you Self Employed or are you an Independent Contractor?

First, let's answer what an Independent Contractor is....this is anyone who gets paid and their employer doesn't take any taxes out of their check.  Someone who will receive a 1099 at the end of the year.  

If you answered yes to either one, you need to stay on top of your bookkeeping. You may be saying, “What bookkeeping?”  You may be saying, “I don’t have a lot of invoices or bills” or “I am just a small business owner not a large corporation”.  "I'm not a business owner!!"  

You have no idea how often I have heard these words. Well, if you are self employed or get paid without taxes being taken out, then I suggest you do something, so you don't have a big tax liability when it is time to do your tax return. 

By meeting with me on a regular basis, this can help you save money and stay on top of your business. This will allow me to look at your information and see what kind of self employment taxes you may owe, or see how to reinvest back into your business, or yourself to lower that self employment tax. 

Give us a call 619-726-1158 for a free consultation on how we can give you some peace of mind.

Having Peace of Mind is an important piece to your puzzle. Come and talk with me and I can help you find that piece.  

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Deductions and Credits that you may qualify for.

There are different deductions and credits that are out there that not everyone knows about. If you qualify for these deductions or credits, this could help you get more of a tax refund or it could help cut down your tax liability.

One thing that I enjoy doing during tax season:  Sitting down with my clients talking with my them and hearing about their life.  As we all know, life events happen. 

I listen to key words like: I now have a college student, I finally retired, we sold our house, we bought a house, we have a new rental, or we have a new baby. This helps me to hear key words to match up different deductions and credits that you qualify for.   This will also help me to give you advise to prepare for next year.  My goal is to get you all the deductions and credits you qualify for.

Finding the right puzzle pieces can sometimes be difficult. I am here to listen and am able to help find the right piece for you. 

Do you think you paid too much in 2012?  Do you feel that there was something missing?  Give us a call 619-726-1158 and we can look over last year's taxes and see if there was anything that was overlooked.

We appreciate your feedback, let us know what you want to read about, or what your favorite blog as been so far.

Getting Organized

There are so many tools out there that will help you get organized. And, the first thing that we need to do is to find that tool that will help you to succeed. The second thing we will do is create the habit.

Here at Piña Business Services we are going to help you create that habit and keep you accountable to getting more organized to help you succeed.

Give us a call to set up a free consultation 619-726-1158

The benefits of using a Local Payroll Provider

Do you ever call your payroll provider and get a random person on the phone? 

As a former Payroll Manager that was one of my biggest complaints with the larger payroll companies out there.    

At Piña Business Services, you will be greeted by the same person every time.  You will be treated with the utmost respect   We see you as a valued client with real needs and we respect your time and availability.  That is why all of our services are tailored to fit your needs.

Being a member of a Payroll Association, allows me to get the current up to date laws, and law proposals. I make sure my clients get these notifications also. 

  

Payroll can be puzzling, we can help put the puzzle pieces together one piece at a time.

Give us a call 619-726-1158 to get a quote for your Payroll needs.

Be sure to check out our social media links to the right.  Also to the right you can check out our past blogs.  

Thank you for taking the time to read, share and/or liking our blog.  

How to have your taxes benefit your pocket

Are you living paycheck to paycheck, and yet every tax season you get this big refund?  

There are many credits, deductions, and write-offs that are there for our benefit. Knowing how to use these credits, deductions and write-offs, can give you more money in your pocket throughout the year, instead of using the government as your savings account.

Talking to your tax professional (Like Myself) about adjusting your withholdings is something you should be doing about 1 or 2 times a year. We need to make sure we are not over paying and learn how to add more money in your paycheck.

Knowing all the credits, deductions and write-offs are important, but communicating with your tax preparer is where you need to start.

It can be puzzling but, we are here to help put all the pieces together. 

To set up an appointment to have us look over your taxes and see how to put more money in your paycheck, call 619-726-1158

Feel free to ask questions or comment below.  Also, we appreciate any shares or likes on Social Media, all the links are below.

Why you want to outsource your Bookkeeping instead of using your family friend.

Paying someone to do your Bookkeeping vs. having a friend do it CAN save you money. 

The key elements that you want to look for are:

• Communication
• Financial Reports
• Financial Advice
• Up to Date on New Laws

Are you looking for someone who can just data entry your expenses and your income or are you looking for someone to evaluate the health of the business and give you advice on your next steps? 

Outsourcing a Local Bookkeeper (Like Myself) who can guide you through a budget, your Financial Reports and your taxes can really help you and save you money in the long run.

Having a Local Bookkeeper (Like Myself) who belongs to a Bookkeeping and Payroll organization, who will get the up to date changes to the laws can really help look out for you and the health of your business.

 

Bookkeeping is not just producing a Profit and Loss Statement, it’s another piece of the puzzle that helps show your tax refund or balance due.  If done right, it will be a refund or break even.  


Give us a call 619-726-1158 for a free consultation.

If you haven't seen our video blog about our services, here it is: http://www.youtube.com/user/pinabiz?feature=c4-feed-u

Going to college and taxes

Do you have kids going to college?  Or, are you a College Student?

You are lucking to have a double whammy this time of year, not only do you have to get your taxes done by April 15th, but you also have to file your FAFSA by March 2nd.  Oh but wait, you need to have your taxes completed and filed before you finish up with your FAFSA paperwork.

If you don’t know what FAFSA is it is Free Application for Federal Student Aid.  FAFSA website Every college student or High School senior should be filling this free application out just to see if they qualify for any free government money.  The application is quite simple; you just need to have your current tax return available when you are ready to file the free application. 

Things you will need besides your tax return for you, your spouse and your college student:

            1.   Social Security Numbers

            2.   Driver License Numbers

            3.   High School Information

            4.   Name of College (if you have the college code it will be better) that you want to attend (up to 10 colleges)

If you need any help, give us a call to set up an appointment.  619-726-1158 or 619-726-1716

Thank you for reading my blog, and when you get a chance check us out on Facebook – Pina Business Services, Twitter - Gabe the Taxguy and of course our website - Pina Business Services Webpage

How often should you talk to your Tax Specialist?

If you have had any financial or tax situation changes during the year, you should talk to a Tax Specialist.

Some changes can be, but not limited to:

• Change in pay from your current employer
1. You may need to increase your Federal and State Tax Withholdings if you have had an increase in pay
2. If you have had a decrease in pay, you might be able to decrease your Federal and State Tax Withholdings.
• Purchase of a new home
1. There are a number of deductions that could be on your escrow papers that you could use.
2. You might be able to decrease your Federal and State Tax Withholdings, depending on your deductions.
3. If this is your first home, there are other deductions (ie. Personal Medical expense, Medical miles, Charitable Contributions, Unreimbursed Employee Expenses) that you may be able to deduct.
• Starting a new business
1. Do you have a Profit and Loss Statement?
2. Have you been keeping track of your expenses?
3. Have you been paying estimated quarterly taxes?
4. Do you know all the deductions that you could be expensing?
5. Are you using a room in your home, this could be a Business Use of Home Expense?
• The birth of a child or adopting a child
1. You could be eligible for the Child Tax Credit of $1,000
2. You will be able to have another exemption credit of $3,800
• A child going to college or moving out of the house
1. If you have a Child that has turned 17 you are no longer eligible for the Child Tax Credit of $1,000
2. If you have a Child attending College, there are Education Credits that you may be eligible for up to $2,500
• Change in Filing Status (Married, Married Filing Separate, Single, Head of Household, or Qualified Widow/er)
1. This is a huge factor in your taxes, and can either have a positive or negative outcome. 

As you have read, there are many things that can change your Tax Situation and since it is almost the end of the year, you would want to do this sooner than later, the more you wait; the harder it will be to correct the situation.

Give us a call and make an appointment so I can go over your paystubs, escrow papers, Profit and Loss Statement, etc. and make sure that you are on track, and/or give you some advice on your tax situation. 

Also, if you know anyone who owns a Small or Medium size Business or is Self-Employed, please give them a business card and have them give me a call for a Free Consultation of their Bookkeeping and/or Tax Situation.

Thanks for reading my blog, and when you get a chance check us out on Facebook – Pina Business Services, Twitter - Gabe the Taxguy and of course our website - Pina Business Services Webpage

Give us a call at (619) 726-1158 to make an appointment for a free consultation. 

Have a great day!!!!

What is Piña Business Services?

Hello and Welcome to Piña Business Services Bookkeeping and Tax Blog!

My name is Gabriel J. Piña and I started a Bookkeeping and Tax business in 2007 to provide a service for small to medium size businesses.  Providing Bookkeeping and Tax Services to Self Employed, Corporations and Non-Profits alike over the last 5 years have been a great joy.

My company slogan “Bookkeeping is like a Puzzle, do you know where to put all the pieces?” this is how I look at your company: A puzzle.  Every puzzle is unique in its own way.  My goal is to show you how your company is doing on a weekly, monthly or quarterly basis, and to show you how it will impact your yearly tax return.

There are many facets to provide a Bookkeeping service, and a lot of it depends on you the client.  The basic of Bookkeeping is creating a Profit and Loss statement based on your receipts and Bank Statements.  This will tell you if you are profitable or not, as well as where you spent your money.  To take it to the next level we look at a yearly budget, and categorizing your income and expense to specific categories (as you can see in the example below, the Job Workshop had a net income of $1,850, while the business as a whole had a net income of $21,150), and we look at your budget on a monthly basis to see if you are spending more or less then you budgeted. 

           

                        Income

                                    Sales                                      $25,000

                                    Job Workshop                       $  2,000

                        Total Income                                      $27,000

                        Expenses

                                    Advertising                             $     500

                                    Office Supplies                      $     200

                                        Job Workshop Supplies   $     150

Rent                                        $  5,000

                                    Total Expenses                                 $  5,850

                                    Net Profit                                            $21,150

                                               

Other facets of Bookkeeping Services are but not limited to: Bank and Credit Card Reconciliation, Financial Statements, Accounts Payable and Accounts Receivable, and Sales Tax Reporting. 

On a quarterly basis, I analyze your Profit and Loss Statement and your Balance Sheet and come up with a report of your self employment taxes and income tax for the following year.  If you pay quarterly estimated taxes, you are more than likely paying off of your last year tax return, instead of paying off of actual numbers.  Which means you can still be underpaying or overpaying, either way, wouldn’t you rather pay off of actual numbers?

 

I have an office in Santee and am mobile throughout the San Diego County. 

Piña Business Services was named Santee’s Favorite Tax Preparer by the Santee Patch in April of 2012.

Thanks for reading my blog, and when you get a chance check us out on Facebook – www.facebook.com/pinabiz , Twitter - www.twitter.com/gabe_the_taxguy and of course our website www.pinabiz.com

Give us a call at (619) 726-1158 to make an appointment for a free consultation. 

Have a great day!!!!