Roy and Associates' Bulletin Board |
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 Reminder to
businesses to add
Auto Fringe
Benefits to W2s
- if
you need help with
the calculations
call our office
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Reminder to
businesses to add
the cost of health
insurance to the
W-2s of 2% or more
owners of
S-Corporations
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Reminder to
corporations to
hold annual
stockholders'
meeting and board
meeting and update corporate minutes.
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QUICKBOOKS SECURITY VULNERABILITY
We have been informed by Jill Ward, Vice President and General Manager, Intuit Accounting
Professionals Division that they have identified, and created a solution for, a potential
security vulnerability in some of the QuickBooks Windows-based tax, consumer and small
business software. They report that the risk involves AnswerWorks software, which is
licensed from Vantage and developed on Microsoft's ActiveX platform and is used in the
"Help" feature of some of Intuit's products. They state they know of no cases where
someone has taken advantage of this vulnerability. However, if exploited, it could allow a
hacker to access the data on your computer. Downloading the update below is supposed
to eliminate this vulnerability.
PRODUCTS THAT ARE AFFECTED:
QuickBooks (all versions) - 2005-2007 QuickBooks: Premier Accountant Edition - 2005-2007
ProSeries (all versions) - 2003-2006 Innovative Merchant Solutions QuickBooks Credit Card
Processing Kit and Invoice Manager (all versions) Quicken (all versions) - 2008 . TurboTax
(all versions) - 2003- 2006.
WHAT THEY ARE RECOMMENDING THEIR CUSTOMERS TO DO:
Download and install Intuit's patch at Intuit.com/support/security/, which is supposed to
immediately eliminate the vulnerability. The patch is approximately 1MB and is supposed
to download in about 20 seconds on broadband connections. If you have more than one
of the Intuit products listed above on your computer, one download of the Intuit update is
supposed to protect all versions and years of the Intuit products.
FURTHER INFORMATION:
For detailed information, see the information on intuit.com/support/security/. If you need
more information, contact the QuickBooks technical support teams.
DISCLAIMER OF RESPONSIBILITY:
Please note that Roy and Associates is passing this information on as a service, without
warranty or responsibility for the performance of any Intuit product, either with or without
the download, nor are we guaranteeing the download is effective or will not affect your
computer adversely in other ways. If you believe the warning from Intuit as described
above is of concern, we suggest you VISIT THE INTUIT WEBSITE [www.intuit.com] and/or
CALL THE QUICKBOOKS TECHNICAL SUPPORT TEAM so that you can make an informed
decision as to whether this poses a risk to your computer accounting system and how to
best whatever risk you assess there to be.
Sincerely, Vance A. Roy, CPA President
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Roy and Associates PC |
Alerts! - Continued |
Alert #22 |
re: Non-Profits Organizations |
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Non-Profits Organizations
Non-profit
organizations with less
than $25,000 of revenue
must now electronically
file Form 990N or lose
their tax-exempt status
if Form 990N is not filed
within 3 years.
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Roy and Associates PC |
Alerts! - Continued |
Roy and Associates PC |
Alerts! - Continued |
Roy and Associates PC |
Alerts! - Continued |
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Roy and Associates PC |
End of Alerts! |
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Salary Exemption Rules for Overtime
(Click on Rule Number and Print .pdf document)
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This notification is to inform you of how our correspondence with clients, including e-mail messages, is affected by IRS regulations governing tax practitioners.
IRS Circular 230 requires us to add certain standard language to many of our letters, memos, e-mails, and other correspondence concerning federal tax matters, unless we are willing to undertake extensive analysis of the facts underlying a transaction and legal authorities that address the tax treatment of the transaction. This includes written advice concerning planning related to, or the application of, any federal tax on the business or personal affairs of our clients.
While the specific wording may vary depending on the circumstances, absent the thorough analysis of the facts, you can expect written advice from our firm to contain language similar to the following:
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Circular 230 Disclosure
As required by United States Treasury Regulations, you are hereby notified that this communication is not intended by the sender to be used, and it cannot be used, for the purpose of avoiding any federal tax penalties that may be imposed under United States federal tax laws, or for promoting, marketing or recommending to another person, any tax related matter.
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These rules require such notices to be prominently disclosed and readily apparent to the reader. The notice must be in a separate section of the correspondence and the typeface used must be at least the same size as the typeface used in any discussion of facts or law.
Be assured that this policy does not reflect any decrease in the quality of our services or the amount of thought we put into our correspondence with our clients. We have adopted this policy as part of our effort to provide distinct and concise answers to normal tax matters without having to undertake extensive analysis of the facts, thus increasing fees due to having spent considerable time to further investigate and document matters not required for normal discussion of most tax issues. Without such a disclaimer, additional fees would often be required for us to fully ascertain and analyze factual matters underlying the advice.
In situations where we believe that the circumstances warrant the increased fee attributable to a communication that may provide clients with protection from the imposition of penalties, we will discuss the matter with a client directly. In the event a client desires a written communication upon which to rely for protection from the imposition of penalties, we encourage clients in such circumstances to discuss the matter with us.
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Non-public confidential information is confidential financial information that is provided by the client, developed from the engagement, or obtained by us with the permission of the client. In the course of providing services to a client, we do collect such non-public information about the client. It is the information provided to us by the client from accounting records, worksheets, documents and discussions, as well as information that we obtain about the client from third parties and information that we develop about the client as part of the engagement. We retain this information in records relating to professional services that we have been retained to provide to the client so that we are better able to provide those services and in order to comply with professional guidelines.
We require all such information about our current and former clients to be kept confidential by our staff. We will not disclose any information about our clients without their approval, except as required or permitted by law. Permitted disclosures of non-public confidential information include, for instance, providing information to employees and, in limited situations, to unrelated third parties who need to know that information to assist us in providing the required services. In all such situations, we stress the confidential nature of the information being shared and we maintain physical, electronic, and procedural safeguards to protect this non-public confidential information.
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We are always interested in adding to the resources of the firm when we find opportunities to match our needs relative to better service for our clients with the availability of qualified professionals. Therefore whenever experienced professionals are interested in employment with the firm, we always encourage them to contact the Managing Partner directly, by mail, phone or email, even if we are not presently seeking new staff. Entry level applicants should always submit their information by email to employment@royandassociates.net.
Presently, we are considering applications for the following position immediately available:
Senior Accountant - This person would be responsible to perform or supervise audit, review, compilation and accounting services; as well as for tax related analysis and adjustment of
accounting records; preparation of personal, corporate, partnership, and fiduciary income tax returns and consulting services relative to the tax, accounting, bookkeeping and payroll services required by our clients.
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Greensburg Office:
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Monday to Friday 8:00 AM to 5:00 PM
Saturdays and evenings, by appointment only |
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- There are exceptions to our posted Office Hours.
- On holidays and emergencies our offices will be closed.
- Although Saturday hours are by appointment only, during tax season clients have come to rely upon our offices being open on Saturdays; however, we are not always open on Saturdays at that time of year.
- On occasion throughout the year, we conduct staff meetings outside the office over breakfast or lunch and close our office for those brief periods.
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- All of these variations from our normal Office Hours are announced on our telephone voicemail service. Please refer to the list below relative to times our office may be expected to be closed and call in advance before stopping in at those times to be sure the office will be open. In general, office closings can be expected to occur as follows:
New Years Day: |
Closed all day, or the following Monday when on a weekend. |
Good Friday: |
Closed all day if after April 15. |
Memorial Day: |
Closed Friday and Monday of Memorial Day weekend. |
Independence Day: |
Closed all day, or the following Monday when on a weekend. |
Labor Day: |
Closed all day. |
Thanksgiving: |
Closed all day Thursday and Friday. |
Christmas Eve: |
May be closed all day or for the afternoon. |
Christmas: |
Closed all day, or the following Monday when on a weekend. |
New Years Eve: |
May be closed all day or for the afternoon. |
Emergency weather: |
May be closed under severe weather conditions. |
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Greensburg Tribune Review Article from April 15, 2007
Presented with permission of the author, Dana Datko, a freelance writer from Berlin, PA
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