HAPPY NEW YEAR!
Happy New Year - We’ve Moved! We want to wish you the happiest of New Years! Also,
we wanted to let you know that we’ve moved! Our new address is:
Hein Online Business Center,
2350 North Forest Road, Suite 18A, Getzville, NY 14068
Minimum Wage Increases
Starting January 1, 2019 minimum wage will be increasing to $11.10. Tipped employees
will stay at $7.25. We will automatically raise any employee who is currently paid
under $11.10.
2019 Tax Provisions
401 (K)..................................................................$ 19,000
401 (K) Catch-up (over 50)...................$6,000
Sep IRA..................................................................$56,000
Simple IRA.............................................................$13,000
Simple IRA Catch-up (Over 50)..........$3,000
Traditional or Roth IRA...................................$5,500
IRA Catch-up (Over 50)..............................$1,000
HSA – Single..........................................................$3,500
HSA – Family........................................................$7,000
Gift Tax Exclusion............................................$ 15,000
Social Security Wage Base.....................$132,900
Social Security Tax Rate..........................................6.2%
Medicare Wage Base.....................................No Limit
Medicare Tax Rate......................................................1.45%
Accountant Updates
Dara will be on vacation from January 4th to January 13th. She will be back in the office on Monday January 14th.
Upcoming Tax Season
We highly encourage ALL Business Clients to get your financial information for 2018 to us ASAP. Please use paper clips and NOT staples. Required Documents include but aren’t limited to:
Bank Statements
Check Stubs or Images
Credit Card Statements for each Credit Account
Loan and/or Line of Credit Statements
Cash Receipts (sort and group by how paid)
Payroll Reports (if applicable)
Upcoming Deadlines
Monthly Payroll Taxes: Due Jan 15, 2019
Monthly Sales Tax: Due Jan 21, 2019
Monthly Payroll Taxes: Due Feb 15, 2019
4th Estimated Tax Payment: Due January 15, 2019
Quarterly Payroll Reports: Due January 31, 2019
Annual Form 1099’s: Due January 31, 2019
Accountant Info
Dara Lis is an IRS Registered Tax Return Preparer: The IRS does not endorse any particular individual tax return preparer. For more information, go to www.IRS.gov.
Kelly Koch is a Certified QuickBooks Pro Advisor: If you or someone you know needs assistance with
QuickBooks, please contact us!