SBG CONSULTING, INC. & BOOKKEEPING MATTERS, LLC Make sure all your documents are in on time! Business: July 31st, 2017 Personal: September 16th, 2017 Make the deadline to avoid the $500 Expedite Fee! Summer 2017 Table of Contents Sara s Corner.2 Referrals...3 Business Healthcare Compliance.3 And Introducing.4-5 Client Spotlight.6 Calendars.7-8
Wow, I am just now starting to feel less anxious about catching up. But first, I have been enjoying the cooler weather and these awesome spring like temperatures! (I wrote this before the heat wave, ha ha!) The tax gods were not kind to us this year. I have spoken to several other CPAs (Florida, Arizona, Nevada, Kansas) as well as attended a conference call with the AICPA, and they unfortunately all agreed. As a fellow Arizona CPA Alex said, When April 15 th falls on the weekend, the filing deadline is automatically extended until the following Monday. Then some genius legislators decided that day should be Emancipation Day-only a federal holiday in DC, which meant we had until the 18 th. Now some of you may be thinking, hey having the weekend to wrap up returns and extensions is kind of nice it gave you extra time. In reality, after two months with no days off, we re just ready for it to end. While I understand the theory behind moving the partnership tax deadline up a month so that folks may receive their K-1 s 30 days before the personal return; the problem is this added over 3.5 million returns (2012 statistics so that I m sure the number was higher in 2016) to the March 15 th deadline. Preparers were unable to complete what they had on their plates already without adding millions more. In addition, a lot of 1099 statements were not sent out until 03/31 or even later, leaving 17 days, at best, to complete returns. We realize that the frustration and process of tax season affects you also, therefore we encourage you to contact your government representatives. The government needs to hear from CPAs but also from the general public. This is not just a CPA issue, we re just the ones who make the most noise about it. If you have been patiently waiting for your return, which we truly appreciate, we had a few hiccups this tax season. Good news is Cherie is back, Amber is learning as fast as she can, and I am making progress on the extended returns with Kathy s assistance. We plan to make changes on the tax season process for 2017 and will let you know as these changes progress. Currently we have purchased two new software programs, the first of which most of you have started using. SmartVault not only allows you access to copies of your tax returns and documents 24/7, but it also allows you to securely send us documents. The second one is a new practice management software. This one is taking a bit longer to get up and running and get all the bugs worked out, but we are making headway. Also, to address some of the questions we have been getting regarding the pending tax changes from the new Trump administration and what it may mean for you the short answer is, we have no idea yet. So much of it is just talk right now. Rest assured that as soon as the bill passes, we will be on it and make you aware. May you all have a wonderful summer and thank you again for your loyalty and patience. Stay tuned for more announcements. Sara PS: if you are in the neighborhood stop by and say Hello to Amber, our new office administrator; Kathy, our new staff accountant and CPA candidate; and Jennifer, our new bookkeeper. Page 2
Gus S. referred Steve J. Kristian K. referred Iwona P. Gus S. referred Cheryl & Doyne P. Jeanne B. referred Ken H. Jason P. referred Tom V. Jeanette D. referred Brigette K. Avoid Penalties on Business Healthcare Plan Compliance If your company has fewer than 50 full-time employees and you still use a health reimbursement arrangement (HRA) that reimburses staff for their medical insurance premiums, either pretax or after-tax, you could be subject to a penalty of $100 per day, per employee. If you believe you could be subject to this noncompliance, contact us today for advice that can help you avoid unnecessary penalties. Call our office, as well, if your company is an S corporation and you have questions about IRS relief related to those entities healthcare plans. Page 3
And Introducing... Staff Accountant KATHY BOGLE Katherine Bogle is a fresh graduate from DeVry University, where she acquired her Bachelor s in Business Administration with a specialization in Accounting. She is currently pursuing her Master s in Business Administration as well as preparing to become a Certified Public Accountant. Her recent experience includes handling accounts payable and some accounting in the health industry. Born and raised in the Philippines, she decided to come to the United States for a better future. She is happily married and blessed with three beautiful children. She enjoys cooking, reading, and listening to music in her free time. Kathy is truly inspired by Albert Einstein s words, Strive not to be a success, but rather to be of value. Fun Tax Fact Newspapers have such large-sized sheets of paper because of a British 1816 tax on newspapers. The knowledge tax was levied by page. In response, newspapers started using larger paper size to accommodate more text, thereby reducing the number of pages taxed. Page 4
Office Administrator AMBER TRINDLE After graduating from high school in Southern California, Amber worked for the Armed Forces Recreation Center in Garmisch, Germany for a year before completing her Bachelor s Degree at Oregon State University. After living in three more states, she finally settled in Las Vegas last year (and plans to stay for a good long while!). Amber s background in libraries as well as records management is serving her well as she keeps the office running smoothly. Amber enjoys hiking around Las Vegas when the weather permits and visiting museums and historical sites when it does not. She just returned from her annual motorcycle trip through the Pacific Northwest and is looking forward to getting to know all the wonderful clients at SBG Consulting and Bookkeeping Matters. Bookkeeper JENNIFER RELLINS Jennifer was born and raised in Southern California. Her budget and finance experience began shortly after high school and continued while she worked for the U.S. Air Force for 13 years. She has a Bachelor s Degree in Communications from the University of Maryland. She has lived in Las Vegas over a decade. Some of the things she likes about Vegas are the concert choices and the great places to eat. She enjoys playing with her son, reading books, photography, spending time with her horse, and watching sports. Page 5
Client Spotlight Schwob Acoustics is an engineering consulting firm internationally recognized for its noise isolation, vibration control, and acoustical optimization services. The firm founder and president is Michael Schwob, a Nevada native. For more than 20 years, Michael Schwob has helped corporate, government and hospitality clients provide quiet, comfortable spaces to work or relax. He has also helped nightclubs, theaters and entertainment venues offer the very best acoustic experience for their guests. He has served as the lead acoustician for high-profile projects at MGM International, Hakkasan Nightclubs, Hilton Hotels, the Las Vegas City Hall, Arizona State University, Nevada State College, and Zayed University in Abu Dhabi. Michael is active in industry organizations and is an educator as well. He has taught a series of certification classes on architectural acoustics, published a blog explaining acoustical issues to building owners, developers and architects, taught for the UNLV Department of Mechanical Engineering and the UNLV School of Architecture. You can contact Michael Schwob at 702-677-8108 and mike@schwobacoustics.com. IMPORTANT DATES 7/31/17 ~ Business documents due to SBG 9/16/17 ~ Personal documents due to SBG An Expedite Fee of $500 per return will be added for information received after these dates! Page 6
July 2017 Sun Mon Tue Wed Thu Fri Sat 1 National Ice Cream Day 2 3 4 5 6 7 8 CLOSED CLOSED EFTPS 941 9 10 11 12 13 14 15 16 17 18 19 20 21 22 Lipstick 23 24 25 26 27 28 29 Due! National Day CHERIE BUSINESS DOCUMENTS 30 31 DUE TO SBG! Quarterly Payroll Tax Returns Due 7/31 August 2017 Sun Mon Tue Wed Thu Fri Sat Wiggle Your Toes Day Watermelon 1 2 3 4 5 6 7 8 9 10 11 12 EFTPS 941 Due! 13 14 Commerce 15 16 17 18 19 Tax Returns Due! National Roller Coaster Day National 20 21 22 23 24 25 National Dog 26 27 28 29 30 31 Day Day Page 7
September 2017 Sun Mon Tue Wed Thu Fri Sat 1 2 3 4 5 6 7 8 9 CLOSED Voucher 3 Estimated EFTPS 941 Due! 10 11 12 13 Tax Payment DOCUMENTS 14 Business Tax 15 16 Due 9/15 Returns Due! First day of 17 18 19 20 21 22 23 National 24 25 26 27 28 Coffee 29 30 Day fall PERSONAL DUE TO SBG! SBG CONSULTING & BOOKKEEPING MATTERS 7930 W Sahara Ave. Las Vegas, NV 89117 702-320-9200 Page 8