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Accounting Outsource, Inc.

Accounting Outsource

Care in Choosing an Alternative Energy Supplier

Basic Questions you can ask per the State of Maryland Department of Energy!

 

  • Is the energy price fixed or can it fluctuate from month to month? Does it vary by amount used or time of use?
  • What is the length of the contract? Is there an early termination fee or a switching fee if you switch to another supplier before the contract period is over?
  • How much notice is required to switch suppliers?
  • Will the contract automatically renew at the end of the term? How much notice must you give if you do not wish to renew?
  • How is the electricity generated – coal, gas, nuclear, hydro, etc.? What percentage of the fuel source is renewable, and what are the emissions levels?
  • Is there a deposit or sign-on fee? a fee for late payments? Any other fees?
  • Will you be billed by the supplier or by the electric company? Will you receive two separate bills or one combined bill?

EFFECTIVE JUNE 1 2016 PLEASE VISIT SMARTFINANCIALS.NET

Please visit www.smartfinancials.net for all of your accounting and tax related services

Congressional Reform Act of 2015

This came across my desk in an email chain. It summed up my thoughts so well that it needed to be shared with as many people as possible…especially our elected officials that have spent a lifetime living off our incomes.

Congressional Reform Act of 2015
1. No Tenure / No Pension. A Congressman/woman collects a salary while in office and receives no pay when they’re out of office.
2. Congress (past, present, & future) participates in Social Security.
All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system, and Congress participates with the American people. It may not be used for any other purpose.
3. Congress can purchase their own retirement plan, just as all Americans do.
4. Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.
5. Congress loses their current health care system and participates in the same health care system as the American people.
6. Congress must equally abide by all laws they impose on the American people.
7. All contracts with past and present Congressmen/women are void effective 12/1/15. The American people did not make this contract with Congressmen/women.
Congress made all these contracts for themselves. Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, so ours should serve their term(s), then go home and go back to work.
If each person contacts a minimum of twenty people, then it will only take three days for most people (in the U.S.) to receive the message. Don’t you think it’s time?
THIS IS HOW YOU FIX CONGRESS!
If you agree, pass it on.

SPRING BUSINESS CLEANING

Spring Cleaning always makes you feel good at home.  The long winter is behind you and the sun is shining bright in the sky.  What a great time to move winter clothes from closet to closet and get rid of old things taking up dust around the house.

The same holds true for your business environment.  You should look around your office and get rid of things that are collecting dust or have not been seen or used in the past 6 months.  Box up those items and store them away so they do not clutter your work area or hamper your productivity from day to day.

Items that are greater than 5-7 years old should be shredded or disposed of in an appropriate manner.  Follow these simply rules for keeping documents:

Bank Statements     7 Years

Vendor Invoices      5 years

Payroll Records      10 years

Sales Records         10 years

Tax Returns            7 years (3 years of back up data, 7 years of filed copies)

Of course you can keep these items longer if you wish or have the storage room available.  Put them away in well marked boxes and keep them out of moisture.

 

MEMORIAL DAY THANKS

The staff and families of Accounting Outsource Inc would like to thank all members and branches of our Armed Forces.  Whether you serve today or served before we live by the freedom provided and the sacrifice made by yourself and your families.

May we never forget all of the brave men and women that have sacrificed so much to secure our freedom at home!

We have many clients that have served in our Military and we offer a heartfelt thanks for your service.

Those that remain in harms way we offer our prayers and thoughts for a safe and speedy return to American soil.

 

HAPPY MEMORIAL DAY

 

Instant Gratification Comes to the Dinner Table

We can all thank the internet and its technological riches for the “NOW” Mentality.   What previous generations would ponder or have to research at the library can now be had in miliseconds on your smartphone, tablet or now your watch.

Go out to any restaurant today and look around…  Families that used to be laughing and talking are now hunched over their phones texting and playing games.  They are more worried about what everyone else is doing (somewhere else) and less worried about what is going on right at their own dinner table.

 

Technology is now changing how we order and pay for our meals at many of the national chains.  Table top devices are allowing us to order, play games while we wait, monitor the progress of our meals and finally pay the bill without ever having to actually speak to someone.    Although I applaud the efficiency of the entire process it tends to take away the experience of being out in the first place.

As a business owner and restaurant operator, there is little you can do to stop this movement.  The people have won and the technology they want will continue to infiltrate deeper and deeper into the industry.   Successful operators will ensure all these technologies talk to one another, and most importantly provide the good old fashioned Point of Sale data that is necessary for accurate financials and successful operation.  Reconciliation of all these components is essential and mandatory to make sure you are getting every sale and every dollar that is owed to you.

My hope is that these new technologies improve restaurant operations but do not ruin the social concept of dining out.   They should improve efficiencies for the front and back end of your operations without totally removing you from the customer.

If you need assistance with any of these technologies or how it effects your POS and accounting figures give us a call.

 

CONGRESS PASSES TAX EXTENSION

We were told it would happen but still kept holding our breath.  NOW just need the President to sign it.

Passing this Bill will ensure that all of your Capital expenditures can be depreciated fully and reduce the overall 2014 tax liability.

Now if Congress could only make these permanent and provide stability to the business environment.

 

AOI

 

URGE CONGRESS TO ACT

Numerous tax deductions are going away if congress fails to act immediately and pass the Expiring Provisions Improvement Reform and Efficiency Act. What is at Stake:
Health Coverage Tax Credit
Expense Deduction for School Teachers
Mortgage Debt forgiveness
Mass Transit and Parking Benefits
Deduction for Mortgage interest Premium
Deduction for State and Local tax
Numerous Higher Education Deductions
Charitable IRA contributions
Military Housing Allowance treatment
WOTC
** 15 Year Depreciation for Restaurant Improvements
** Bonus Depreciation
** $500,000 Section 179 Maximum

There are many many more that are part of this bill. As you can see the last three listed have HUGE impact on small business and the expansion of jobs and the economy. The immediate write-off of capital assets gives small business the incentive to spend money and that creates jobs.

Call, write or go visit your representative and urge them to make this their #1 priority in restoring these important tax deductions and get serious about helping small business and creating jobs!

The elections are over and it is time to get to work

 

10 Steps to Success by ETB

I am sure that each of us can point to someone or something that motivates and provides direction for our daily journey.

The driving force at Accounting Outsource has always been my father and his unrelenting passion for success.  I try every day to live by his example and to live by his sworn by Steps to Success.   As he enjoys retirement we can now all learn from his 40 + years of professional experience.   Thanks Dad!!!

Please share with me how these steps make you more successful…

  • Thrive on Pressure
  • Establish Good Habits
  • Master Communication
  • Build Self-Esteem
  • Always be Positive
  • Learn from Adversity
  • Learn from Role Models
  • Be Ferociously Persistent
  • Set Demanding Goals
  • Survive Success

 

RICH

New Accounting Outsource Website Published

We are very pleased to announce a brand new website has been launched for Accounting Outsource, Inc.  This new website was developed for Accounting Outsource by Kryptronic Software of York, Pennsylvania.

Continue reading “New Accounting Outsource Website Published” »

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