Comments for SUMSOLUTIONS http://www.sumsolutions.com SUMSOLUTIONS Tue, 24 Jan 2012 14:17:49 +0000 hourly 1 http://wordpress.org/?v=3.1 Comment on Bookkeepers Need to Know State Requirements for Filing 1099-MISC Forms by admin http://www.sumsolutions.com/2010/12/17/bookkeepers-need-to-know-state-requirements-for-filing-1099-misc-forms/comment-page-1/#comment-533 admin Tue, 24 Jan 2012 14:17:49 +0000 http://www.sumsolutions.com/?p=2748#comment-533 Thirty-three states, as well as the District of Columbia require information return tax reporting for various types of non-payroll compensation and other miscellaneous income. While the filing requirements and dollar reporting thresholds may vary, the requirement to file a state return is generally contingent on the reporting requirements for the state in which the 1099 recipient (individual, sole proprietor, medical corporation, partnership, trust, or estate) resides. As of January 1994, the states not requiring tax filing for information returns are Alaska, Colorado, Florida, Kentucky, Michigan, Nebraska, Nevada, New Hampshire, North Carolina, Ohio, South Dakota, Texas, Utah, Vermont, Virginia, Washington, and Wyoming. Of the thirty-four states (includes the District of Columbia) requiring a separate state tax filing, twenty-six participate in the IRS Combined Federal/State Filing Program. This means that the IRS will accept, upon prior approval, magnetic media containing state reporting information. Under this program, the IRS forwards the information to the participating states free of charge. However, please note that Forms 1098, Mortgage Interest Statement, 1099-A, Acquisition of Abandonment of Secured Property, 1099-B, Proceeds from Barter Exchange and Broker Transactions, 1099-S, Proceeds from Real Estate Transactions, and W2-G, Certain Gambling Winnings, cannot be filed under this program Thirty-three states, as well as the District of Columbia require information return tax reporting for various types of non-payroll compensation and other miscellaneous income. While the filing requirements and dollar reporting thresholds may vary, the requirement to file a state return is generally contingent on the reporting requirements for the state in which the 1099 recipient (individual, sole proprietor, medical corporation, partnership, trust, or estate) resides.

As of January 1994, the states not requiring tax filing for information returns are Alaska, Colorado, Florida, Kentucky, Michigan, Nebraska, Nevada, New Hampshire, North Carolina, Ohio, South Dakota, Texas, Utah, Vermont, Virginia, Washington, and Wyoming.

Of the thirty-four states (includes the District of Columbia) requiring a separate state tax filing, twenty-six participate in the IRS Combined Federal/State Filing Program. This means that the IRS will accept, upon prior approval, magnetic media containing state reporting information. Under this program, the IRS forwards the information to the participating states free of charge. However, please note that Forms 1098, Mortgage Interest Statement, 1099-A, Acquisition of Abandonment of Secured Property, 1099-B, Proceeds from Barter Exchange and Broker Transactions, 1099-S, Proceeds from Real

Estate Transactions, and W2-G, Certain Gambling Winnings, cannot be filed under this program

]]> Comment on Are You Letting Fear Be Your Guide for Bringing In New Business? by admin http://www.sumsolutions.com/2009/08/18/are-you-letting-fear-be-your-guide-for-bringing-in-new-business/comment-page-1/#comment-532 admin Tue, 24 Jan 2012 14:13:27 +0000 http://sumsolutions.net/blog/?p=153#comment-532 Do it anyway! That's the definition of courage. Do it anyway! That’s the definition of courage.

]]> Comment on A Surefire Way to Get Your Bookkeeping Clients to Agree to Your Rate Increase by admin http://www.sumsolutions.com/2012/01/10/a-surefire-way-to-get-your-bookkeeping-clients-to-agree-to-your-rate-increase/comment-page-1/#comment-531 admin Tue, 24 Jan 2012 14:11:00 +0000 http://www.sumsolutions.com/?p=4887#comment-531 Even during the great depression people made money. The key difference is not believing there are limits. I sense your frustration and there are a couple of things that come to mind. <strong>One:</strong> You must beleive in and communicate the value of the services you are providing. This is first and foremost. I can relate to your comment of "being blamed for everything when I do my job..." Once I started to claim and communicate my value I was treated differently by my clients. <strong>Two:</strong> Who is your ideal client? What qualities and characteristics do they possess? What type of business are they in? Start with making a list of the qualities you don't like in one column and then next to each quality list the exact opposite. This will help you to discern who you are looking for. <strong>Three:</strong> I also recommend not using Craigslist and Monster to obtain clients. The folks listing here are looking for contractors they would pay as an "employee" but they are not really looking for an employee. I encourage you to expand how you are sourcing prospects to include networking groups and reaching out to CPAs. Even during the great depression people made money. The key difference is not believing there are limits. I sense your frustration and there are a couple of things that come to mind.

One: You must beleive in and communicate the value of the services you are providing. This is first and foremost. I can relate to your comment of “being blamed for everything when I do my job…” Once I started to claim and communicate my value I was treated differently by my clients.
Two: Who is your ideal client? What qualities and characteristics do they possess? What type of business are they in? Start with making a list of the qualities you don’t like in one column and then next to each quality list the exact opposite. This will help you to discern who you are looking for.
Three: I also recommend not using Craigslist and Monster to obtain clients. The folks listing here are looking for contractors they would pay as an “employee” but they are not really looking for an employee. I encourage you to expand how you are sourcing prospects to include networking groups and reaching out to CPAs.

]]> Comment on Bookkeepers Need to Know State Requirements for Filing 1099-MISC Forms by Samantha http://www.sumsolutions.com/2010/12/17/bookkeepers-need-to-know-state-requirements-for-filing-1099-misc-forms/comment-page-1/#comment-530 Samantha Mon, 23 Jan 2012 23:11:31 +0000 http://www.sumsolutions.com/?p=2748#comment-530 Which states participate in the IRS combined federal/state filing program? Which states participate in the IRS combined federal/state filing program?

]]> Comment on Speak to the Queen by Eileen http://www.sumsolutions.com/2011/12/21/speak-to-the-queen/comment-page-1/#comment-528 Eileen Mon, 16 Jan 2012 09:01:29 +0000 http://www.sumsolutions.com/?p=4778#comment-528 What a great blog What a great blog

]]> Comment on A Surefire Way to Get Your Bookkeeping Clients to Agree to Your Rate Increase by Catherine Haig http://www.sumsolutions.com/2012/01/10/a-surefire-way-to-get-your-bookkeeping-clients-to-agree-to-your-rate-increase/comment-page-1/#comment-527 Catherine Haig Sat, 14 Jan 2012 02:31:59 +0000 http://www.sumsolutions.com/?p=4887#comment-527 No offense but how can you write something like this so flippantly? You make it sound like implementing an increase in this economic climate is easy. I went from charging 2 years ago ($50/hour) to $25 and sometime I get $30/hour and I'm a freelancer. How do you suggest getting good solid clients who are going to stick with you in the long run. I have had the worst luck with clients coming from Linked In, Craigslist and Monster. I'm thinking about chucking my bookkeeping and taking up my guitar for money. It's just not worth the anxiety of being blamed for everything when I do my job and then catch crap from every fool out there with a bad business. No offense but how can you write something like this so flippantly? You make it sound like implementing an increase in this economic climate is easy. I went from charging 2 years ago ($50/hour) to $25 and sometime I get $30/hour and I’m a freelancer. How do you suggest getting good solid clients who are going to stick with you in the long run. I have had the worst luck with clients coming from Linked In, Craigslist and Monster. I’m thinking about chucking my bookkeeping and taking up my guitar for money. It’s just not worth the anxiety of being blamed for everything when I do my job and then catch crap from every fool out there with a bad business.

]]> Comment on Bookkeepers – Do You Need to Talk to Clients About Rate Increases? by search engine marketing http://www.sumsolutions.com/2011/12/27/bookkeepers-do-you-need-to-talk-to-clients-about-rate-increases/comment-page-1/#comment-526 search engine marketing Thu, 12 Jan 2012 17:54:50 +0000 http://www.sumsolutions.com/?p=4770#comment-526 Finding that perfect work and family balance is not your responsibility alone. Depending on the age of your children, you can enlist them in the effort by requiring them to perform certain chores that will enable you to better manage your time. And if you have a spouse, divide up the workload so you’re not so overwhelmed. Once you divvy out responsibilities, learn to let others perform their assignments. You’re doing yourself no favors by micromanaging your home life. Finding that perfect work and family balance is not your responsibility alone. Depending on the age of your children, you can enlist them in the effort by requiring them to perform certain chores that will enable you to better manage your time. And if you have a spouse, divide up the workload so you’re not so overwhelmed. Once you divvy out responsibilities, learn to let others perform their assignments. You’re doing yourself no favors by micromanaging your home life.

]]> Comment on Speak to the Queen by cloud website hosting http://www.sumsolutions.com/2011/12/21/speak-to-the-queen/comment-page-1/#comment-525 cloud website hosting Thu, 12 Jan 2012 09:52:25 +0000 http://www.sumsolutions.com/?p=4778#comment-525 Wohh exactly what I was searching for, thanks for posting . <a href="http://www.availhosting.com" rel="nofollow">cpanel web hosting</a> | <a href="http://www.availhosting.com" rel="nofollow">cpanel web hosting</a> | Wohh exactly what I was searching for, thanks for posting . cpanel web hosting | cpanel web hosting |

]]> Comment on People and Their Money – How to Navigate This Emotional Subject by SUMSOLUTIONS | Bookkeepers – Do You Need to Talk to Clients About Rate Increases? http://www.sumsolutions.com/2010/09/21/people-and-their-money-%e2%80%93-how-to-navigate-this-emotional-subject/comment-page-1/#comment-520 SUMSOLUTIONS | Bookkeepers – Do You Need to Talk to Clients About Rate Increases? Tue, 27 Dec 2011 16:06:23 +0000 http://www.sumsolutions.com/?p=2032#comment-520 [...] did it hit you in the pit of your stomach?  If so, you’re not alone. It’s hard to talk about money because there are a lot of issues surrounding money.  It expresses where we are in your [...] [...] did it hit you in the pit of your stomach?  If so, you’re not alone. It’s hard to talk about money because there are a lot of issues surrounding money.  It expresses where we are in your [...]

]]> Comment on Are You Letting Fear Be Your Guide for Bringing In New Business? by Diagnosing Your Fear – The Key to a Successful Bookkeeping Business | One Hour Bookkeeper.com http://www.sumsolutions.com/2009/08/18/are-you-letting-fear-be-your-guide-for-bringing-in-new-business/comment-page-1/#comment-518 Diagnosing Your Fear – The Key to a Successful Bookkeeping Business | One Hour Bookkeeper.com Wed, 21 Dec 2011 17:38:18 +0000 http://sumsolutions.net/blog/?p=153#comment-518 [...] what if you do want to pursue something but fear holds you [...] [...] what if you do want to pursue something but fear holds you [...]

]]>