Quarter 1 2021 Newsletter
TNT Bookkeeping, Inc –
We are a cost effective, cloud based solution for your bookkeeping and payroll needs. Using our online platform you will have 24/7 access to your financial information on matter where you are. From income and expense tracking to payroll, our focus is efficiency, accuracy and excellent service.
“Behind every good business is a good bookkeeper”
TNT Bookkeeping, Inc has launched our NEW website!
Take a look around http://www.tntbookkeeper.com
Welcome to the TNT Bookkeeping Team – April Garcia
Welcome to the TNT Bookkeeping Team – Samantha Whaley
Quarterly Review Bookkeeping Package
$350 Per Quarter
Complete quarterly bookkeeping review of balance sheet and Profit & Loss accounts, accounts receivable, accounts payable, account reconciliation, unclassified transactions; includes one hour virtual consultation.
We offer PPP Forgiveness Application Assistance.
Includes: gathering reports & data for application, phone calls & emails communication.
Client is responsible for reviewing data for accuracy and submitting application.
Must be a bookkeeping client.
Retirement Plans Facilitation – We can assist you each month
Need help with the facilitation? We are here to help!
Hybrid Bookkeeping Package
$250 per month Client entered data, Reconciliation of all accounts up to 5 accounts, monthly reports, and 1 hour of support training per month one time set-up fee of $250.00
Sales Tax Rate Changes Effective 04/01/2021Sales Tax rate changes go into effect April 1, 2021. If you use an automated system your sales tax rate should update automatically. If you are not automated you should make the change in rate. If you have questions regarding this you can email email@example.com.
Our Sales Tax Package includes: gathering and calculation of sales tax based off of sales report numbers, reporting and payment initiation, and recording payment in QBO.
Here is a link to the tax rate list: https://www.cdtfa.ca.gov/taxes-and-fees/TaxRatesbyCountyandCity.pdf
Our Sales Tax Package includes gathering and calculation of sales tax based off of sales report numbers, reporting and payment initiation, and recording payment in QBO.
Payroll Manager Tips
Have you ever wondered if you are paying the correct payroll tax rate?
If you are a payroll client of TNT Bookkeeping, Inc our payroll manager checks this tax rate every December for the following year. Updates are made accordingly to make sure you are up to date and current with all payroll tax related tax rates.
Using incorrect tax rates when you run payroll can create problems and you could owe back taxes and penalties.
Keep in mind each year payroll tax rates are changed. Notices are sent out by the State to update these rates. At TNT Bookkeeping, Inc we make sure your rates are current and updated yearly.
PPP Protection Loan Deadline:
May 31, 2021
PPP Application Assistance
Includes: gathering reports & data for application, phone calls & emails communication. Client is responsible for reviewing data for accuracy and submitting application.
Must be a current TNT Bookkeeping ClientCOVID-19 Economic Injury Disaster LoanAnother Option for your business!
This loan provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue.
What happens when you misclassify a worker?
Do you know the difference between and employee and an independent contractor?
An independent contractor doesn’t have any taxes withheld from their payroll wages. Independent contractors to qualify for overtime, minimum wage laws, or employee benefits. Be careful as you could owe back taxes and penalties should you classify your employee incorrectly as an independent contractor.
If you are unsure if your employee is an independent contractor or an employee you can look at the AB5 Test Rules. Assembly Bill (AB) 5 and AB 2257 replaced the common law test with the ABC test to determine whether a worker is an employee or independent contractor in California. The ABC test must be used for the purpose of the Unemployment Insurance Code beginning January 1, 2020. Under the ABC test, a worker is considered an employee and not an independent contractor, unless the hiring entity meets all three conditions of the ABC test: The person is free from the control and direction of the hiring entity in connection with the performance of the work, both under the contract for the performance of the work and in fact. The person performs work that is outside the usual course of the hiring entity’s business. The person is customarily engaged in an independently established trade, occupation, or business of the same nature as that involved in the work performed.
Note: Workers are considered employees unless proven otherwise. The hiring entity must show that workers meet all conditions of the ABC test in order to classify them as independent contractors, unless there is a statutory exclusion or determination of employment. AB 5 and AB 2257 do not change how out-of-state workers are classified.
Proposition 22 makes app-based drivers for network companies independent contractors and not employees or agents if the network company meets certain conditions. For More Information: https://edd.ca.gov/Payroll_Taxes/ab-5.htm
Meet TNT’s Operations Manager Trisha Ingerson
Trisha Ingerson is our Operations Manager for 3+ years. She oversees all facets of the company’s operations. She is the first person you talk to when coming onboard with TNT. She is an Intuit Advanced QuickBooks Online Certified ProAdvisor and has a background in office management, bookkeeping, and equipment management. Trisha grew up in Petaluma and Santa Rosa and attended Tomales High School and Santa Rosa High School. Trisha further went on to the Santa Rosa Junior College for higher education. Trisha is brilliant at multitasking and handling all of the operations for TNT. She is a mom to a beautiful daughter, two handsome dogs and 10 adorable bunnies. Trisha is actively involved with the Penngrove 4H Club led by her daughter. She spends most of her time doing community service and likes keeping herself busy. She also loves hitting the beach or camping.
2nd Draw PPP Loans https://www.sba.gov/
Tsheets: (Timesheet Tracker Option)
COVID Small Business Resource Center
US Treasury Department – Covid19 Relief Information
Paycheck Protection Program
May 31 Memorial Day
|Copyright © *2021* *TNT Bookkeeping, Inc*, All rights reserved.|
Our mailing address is:
*P.O. Box 2740, Rohnert Park, CA 94927*