Industry Focus: Condominium and Rental Property Financial Management
We can send management fee invoices to your owners of condominiums and rental invoices to your tenants, and manage your payments and accounts. (You really don't want anyone else to deal with your high end owners other than us.) We can also pay your bills for your condominium and rental properties. This also comes with full financial statements and tax returns. Call Blaine at (978) 604-4253 to find out how inexpensive this service can be.
Industry Focus: Our Health Care Clients
We provide services to small healthcare practitioners and have wide experience in financial management in the healthcare industry in the areas of rehabilitation, mental health, healthcare staffing (RN,LPN HHA, and homemakers), ambulance services, and not for profit care for the developmentally disabled. We are familiar with your reimbursement environment, cost accounting, and compliance. We provide financial and compliance services from the sole practitioner up to the multi million dollar group practice. Please call Blaine at (978) 604-4253. to see what we can do for you.
Debt Ceiling Negotiations Have Big Effect on Small Business
If the debt ceiling negotiations fail, and the United States defaults on obligations everyone will see a double digit increase in their interest rates on borrowing ,and the value of the US dollar will experience even further decline. Food and energy costs have already taken a hit because of the acceptance of the US government that the US dollar should be devalued because of our poor credit rating. Failure to accept a debt ceiling will unleash unlimited interest rates on any borrowing by US companies and also result in further price increases for commodities such as energy,food, and precious metals. This ...
Mitigate Tax Penalties and Interest By Paying On Time
If you calculate and pay your tax liability in a timely manner before the end of the year you may avoid tax penalties and interest for late payments which you would incur if you waited to pay them with your annual tax return. Penalties and interest for late payments and late filings may amount to hundreds or thousands of dollars depending on the size of your business. Let us insure that your tax liabilities are paid on time during the year to avoid IRS and/or MADOR penalties and interest. Call Blaine at (978) 604-4253
Take A Mid Year Check Up for Your Business. How Were You Doing for the First Six Months of 2010 Versus the First Six Months of 2011??
Every business has to take a mid year check up. Every business should compare their first six months of 2010 (1/1/10-6/30/10) to the same period for 2011. If your revenue is down you have to find out why. If your expenses are up you must investigate the reason. You may have tax liabilities you didn't anticipate even though business was down from 2010. Or you may be paying too many taxes. Every business' best practices should include an annual and rolling budget with monthly reports showing actual results to projected. You have to determine your target margin for products or services, and ...
The Cost Savings Facts About Our Accounting, Tax, and Bookkeeping Outsourced Services
If you hire a $15 an hour employee you will pay 7.65% in FICA taxes, 2-14% in state unemployment taxes, and .3 % in worker's compensation insurance. So your $15 an hour employee is actually going to cost you around $ 21 per hour, not to mention the hike in your unemployment insurance if you have to fire or lay them off. If bookkeeping staff are added to make your total business employees 11 FTE's (11 40 hour employees) in Massachusetts you will have to provide them with health insurance, which may cost more than the salary you pay them. ...
On Site Services Now Offered
Patriot now offers on site services for monthly closings including bank reconciliations, accruals, and loan and credit card reconciliations. We will provide you with profit and loss statements, balance sheets, and customized reports on your computer system. We also specialize in cost accounting,special projects,tax filings including 1099's, 941's, W-2/W-3's, corporate, partnership, and personal income taxes. We have wide experience with Quickbooks Pro, Quickbooks Online, Quickbooks Enterprise, and high end systems such as Great Plains Dynamics with FRx reporting. Our company policy is to meet any competitor's price quote. We believe you should pay the most reasonable price that the market dictates. Call Blaine ...
Unemployed? Medical Expenses? Big Credit Card Balances? Let Us Mitigate Your Credit Card Debt!
If you have changes in your financial circumstances such as unemployment, a large medical expense, or divorce since the time you took out unsecured credit card debt, you may be eligible for mitigation of interest charges to your credit card account. We can negotiate this for you. If we cannot make an arrangement for you that avoids bankruptcy we will refer you to a qualified bankruptcy attorney at no charge. That is our guarantee. Beware of shysters out there who will promise impossible results and demand thousands of dollars in upfront fees or "donations". We are a financial services firm, and ...
Relief From the Leasehold Improvement 39 Year Life Through 2010 Section 179 Changes
Typically depreciated assets are recovered through the lifetime of their service. For a commercial lease this would be five years. Unfortunately for the lessee the congress has passed legislation that mandates that the recoverable life of leasehold improvements equal the recoverable life of the building costs, which are 39 years versus 5 years. A temporary reduction to a 15 year cost recovery period was enacted by congress in 2004. This expired in 2009, so the cost recovery period for leasehold improvements reverted to the 39 year period. For 2010 relief may be sought by revisions to Section 179 property, which now includes ...
Section 179 Change for 2010: Certain Real Property Improvements May be Immediately Expensed
The Section 179 Deduction for Items, which may be subject to depreciation has always allowed an immediate deduction of expenses for capital items. Most accountants choose not to avail their clients of the election when they start their businesses due to the initial tax losses of a start up electing rather to use the depreciation over time so it may be applied to net sales as the business grows. New for 2010 is the Section 179 deduction for not only equipment and vehicles but for capital improvements to real property. The immediate expensing of all costs associated with real property improvements include: Any ...
News from Patriot Tax and Bookkeeping
Debt Ceiling Negotiations Have Big Effect on Small Business
If the debt ceiling negotiations fail, and the United States defaults on obligations everyone will see a double digit increase in their interest rates on borrowing ,and the value of the US dollar will...
Mitigate Tax Penalties and Interest By Paying On Time
If you calculate and pay your tax liability in a timely manner before the end of the year you may avoid tax penalties and interest for late payments which you would incur if you waited to pay them...
Take A Mid Year Check Up for Your Business. How Were You Doing for the First Six Months of 2010 Versus the First Six Months of 2011??
Every business has to take a mid year check up. Every business should compare their first six months of 2010 (1/1/10-6/30/10) to the same period for 2011. If your revenue is down you have to find out...
The Cost Savings Facts About Our Accounting, Tax, and Bookkeeping Outsourced Services
If you hire a $15 an hour employee you will pay 7.65% in FICA taxes, 2-14% in state unemployment taxes, and .3 % in worker’s compensation insurance. So your $15 an hour employee is actually going...
Relief From the Leasehold Improvement 39 Year Life Through 2010 Section 179 Changes
Typically depreciated assets are recovered through the lifetime of their service. For a commercial lease this would be five years. Unfortunately for the lessee the congress has passed legislation that...
Section 179 Change for 2010: Certain Real Property Improvements May be Immediately Expensed
The Section 179 Deduction for Items, which may be subject to depreciation has always allowed an immediate deduction of expenses for capital items. Most accountants choose not to avail their clients...
Rental Property Tax Reporting Tips
Rental property activities are typically reported on the federal Schedule E Income from Rental property on your 1040 individual income tax return unless you are in the business of owning rental property...
Patriot Poll Says 57% Of Customers Want You To Call Them on Monday
Patriot Tax and Bookkeeping, Inc, has recently conducted research as to what day customers preferred to be contacted by their vendors. A random poll among business people in the Boston area has revealed...
File Under: No Thanks I’ll Take The Cash
From the Southwest Daily News: IRS reminds filers about savings bond option Washington, D.C. — The IRS is reminding those who haven’t filed their tax returns that they can receive their refunds...
Canceled Debt on a Foreclosure or Short Sale Can be Exempt From Taxes
From the Boston Herald: IRS debt guidance really hits home By Kenneth R. Harney Sunday, March 13, 2011 – Updated 3 days ago WASHINGTON — The IRS has issued fresh guidance on how to handle...
Read More Posts From This CategoryServices
Industry Focus: Condominium and Rental Property Financial Management
We can send management fee invoices to your owners of condominiums and rental invoices to your tenants, and manage your payments and accounts. (You really don’t want anyone else to deal with...
Industry Focus: Our Health Care Clients
We provide services to small healthcare practitioners and have wide experience in financial management in the healthcare industry in the areas of rehabilitation, mental health, healthcare staffing...
On Site Services Now Offered
Patriot now offers on site services for monthly closings including bank reconciliations, accruals, and loan and credit card reconciliations. We will provide you with profit and loss statements, balance...
Unemployed? Medical Expenses? Big Credit Card Balances? Let Us Mitigate Your Credit Card Debt!
If you have changes in your financial circumstances such as unemployment, a large medical expense, or divorce since the time you took out unsecured credit card debt, you may be eligible for mitigation...
Why You Should Choose Us to Prepare Your Individual Income Tax Return
Donald Korb, IRS Chief General Counsel. Most of the individual tax returns we prepare are for business owners. We also prepare the tax returns for their businesses along with providing them with accounting,...
Our New Office at 19 Pond St. in Stoneham, MA Is Now Open
Our new office at 19 Pond St., Stoneham, MA 02180 is open. We are conveniently located off Main St. south of the square at the corner of Hancock and Pond St. We have easy access from routes 93,...
Get Your 2010 Bookkeeping Done Now And Make 2010 Your Year!
We have people contacting us to get straightened out for 2010 and file accurate tax returns. They will incorporate or form an LLC so they have limited liability for their business activities and tax advantages...
Patriot Tax and Bookkeeping, Inc. Now Offers Credit and Collections Management
Sammy “The Bull” Gravano, Notorious “Collector” The problem is he didn’t keep his customers. Patriot Tax and Bookkeeping Now Offers Credit Management Did you ever have a...
Our Services in A Nutshell
We provide superior economical service in the areas of bookkeeping, business and personal income tax returns, sales/use taxes, automatic tax payments, full payroll, accounting, and financial reporting...
How To Structure Your Business
So you’re starting a new business? The structure you choose has serious tax and legal implications. The following are the most common business structures: Sole Proprietorship You need not do anything...
More
- Industry Focus: Condominium and Rental Property Financial Management
- Industry Focus: Our Health Care Clients
- On Site Services Now Offered
- Unemployed? Medical Expenses? Big Credit Card Balances? Let Us Mitigate Your Credit Card Debt!
- Why You Should Choose Us to Prepare Your Individual Income Tax Return
- Our New Office at 19 Pond St. in Stoneham, MA Is Now Open
- Get Your 2010 Bookkeeping Done Now And Make 2010 Your Year!
- Patriot Tax and Bookkeeping, Inc. Now Offers Credit and Collections Management
- Our Services in A Nutshell
- How To Structure Your Business