 |
|
Client Accounting & Payroll Services Do you and your staff have too much to do and not enough time? Let Bergan Paulsen take over, freeing you up to manage and grow your business. Our team of experts will review and organize your accounting information into financial statements issued according your preferred schedule. We can import all your current data from many software programs including QuickBooks, Quicken or Peachtree software. We’ll also prepare financial statements customized for your business. Whether you need schedules, profit-center reports, budgeted statements or something completely unique, Bergan Paulsen will create it for you. We can do as much or as little as you want us to do. Our accounting and payroll clients get everything they need...and so much More. Our accounting reports and services include:
Whether you need us to fill in when your bookkeeper is on vacation, or you need us to be your bookkeeper, we bring you More. Bergan Paulsen’s full-time, dedicated payroll staff remains in constant contact with your office, answering your questions promptly and accurately. We’re experts in payroll law and taxability of deductions. Our payroll services include:
Additional services are available; please contact Bergan Paulsen for more information on how we can help you Get More of all of your accounting needs! What's New in Client Accounting On February 17, 2009, President Barack Obama signed the “American Recovery and Reinvestment Act of 2009” (the Stimulus Act) into law. We would like to highlight two provisions that may have an impact on your employees and business. Making Work Pay Income Tax Credit The centerpiece of the Stimulus Act, which is aimed at jump-starting the American economy, is a $400 individual income tax credit ($800 for joint filers) for 2009 and 2010. The IRS will issue new federal employment tax withholding tables to allow employees to collect their credits in advance by means of reduced payroll tax withholding for the rest of 2009. Basically, the credit will come through in the form of slightly higher paychecks. The new withholding tables, along with other instructions related to the new law, will be published in Publication 15-T. The publication will posted to the IRS website next week and mailed to employers in mid-March. The IRS asks that employers start using these tables as soon as possible but not later than April 1. COBRA Payments Funded by Payroll Taxes As part of its overhaul of the COBRA rules relating to health insurance continuation, the Stimulus Act provides that for a period of not more than 9 months, an eligible individual is treated as having paid the premium required for COBRA continuation if he or she pays 35% of such premium. The COBRA rules apply to employers with 20 or more employees who provide health insurance. An eligible individual is one who was eligible for COBRA anytime from September 1, 2008 through December 31, 2009, and whose qualifying event consisted of involuntary termination of employment. Any eligible individual who was involuntarily terminated between these dates and failed to elect COBRA must be given an additional sixty days to make the COBRA election and receive the subsidy. The sixty days commences with the day of enactment, February 17, 2009. In most cases, employers must make up the other 65% of the COBRA premium and then are reimbursed by reducing their federal payroll tax deposit liability by the amount so paid. The COBRA premium assistance payments are recorded on Line 12a of the 941 as a credit to total deposits paid for the quarter. This subsidy will not be considered taxable to the employee. There will be a reporting requirement showing the individual’s name, social security number, type of coverage and amount of the subsidy. High income individuals will "recapture" the subsidy as an additional tax on their individual income tax returns. Employers must notify eligible individuals of the available subsidy. We are told that specific guidance will be published by March 19, 2009. |