bluebird bookkeeping

resources

useful links


Bluebird Bookkeeping is invested in our clients' success. We partner with them to ensure they are up to speed on the requirements and laws that might impact them. Below you'll find relevant and current information which might impact your business. We want to make sure you have the resources readily available to handle whatever might come your way - our newsletter is also a great way to stay current on accounting news and action items - a link to our archived newsletters can be found below.

general resources


payroll resource links

 

california specific resources

 

IRS business expenses

  • IRS Publication 463 (2017), Gifts
    Gifts aren't always tax deductible - there's an IRS limit of $25 per recipient per year and specific guidelines that must be followed in order to write off the expense. Some gifts require a 1099 be issued at year end. More can be found by visiting the IRS site.
  • Five Rules for Writing Off Meals and Entertainment Costs
    Meals and Entertainment are subject to a 50% tax deduction, however there are some exceptions including company events, meals brought in during a staff meeting, etc - a helpful article on the general rules is available via Entrepreneur Online Magazine.
  • Wage Compensation for S Corporation Officers
    Corporate officers are specifically included within the definition of employee for FICA (Federal Insurance Contributions Act), FUTA (Federal Unemployment Tax Act) and federal income tax withholding under the Internal Revenue Code. When corporate officers perform services for the corporation, and receive or are entitled to receive payments, their compensation is generally considered wages.
  • Employer's Tax Guide to Fringe Benefits 2018
    As an employer, it's important to stay current on the tax deductibility of employee benefits. Thresholds and specifics on what can be deducted as a business expenses are updated yearly - a current version of this guide can be found at this link.
 

1099 guidelines

  • IRS Form 1099-MISC, Miscellaneous Income
    As a reminder it is expected to obtain a completed and signed Form W9 from any service provider in advance of issuing payment for their services. Individuals, LLCs, and partnerships are all subject to 1099 reporting for amounts paid for services in excess of $600. If expenses are reimbursed receipts should be provided along with the invoice. If receipts are not provided, then the reimbursed expenses are also reported on the 1099 as income to the individual/company being 1099ed. More specifics can be found in one of Bluebird Bookkeeping's old newsletters here. Specific 1099 questions can be directed to your CPA or to us at info@bluebirdsf.com.
 

general information

  • Bluebird Bookkeeping Newsletter Archive
    Bluebird Bookkeeping publishes updates once to twice a month to keep our clients up to speed on upcoming filing deadlines, changes in policies and general accounting information. To view past communications or to join our mailing list please visit the above link.
 

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