FREE IRS Publications & Instructions

 

As a business owner and a taxpayer, you have a right to pay the least amount of tax the law requires and not a penny more.

 

To do this, you will need to have a working knowledge of the various tax laws that may impact your business and taxes, and then make well informed decisions that will minimize your tax bill each year.

 

At the IRS website, www.irs.gov you can either download or have mailed to you, for free, various IRS Publications & Instructions that cover a wide range of tax issues simply by calling the IRS at 1-800-829-3676. 

 

You can also order various tax forms such as W-2, W-3, 1099-Miscellaneous Income & 1096, for free and the IRS will mail them to you.

 

The publications and instructions will help you gain some knowledge of the tax rules and how to apply them to various situations.

 

When it comes to taxes, it pays to be informed. And, when it comes to taxes, it is what you don't know that can be very costly in terms of additional taxes, penalties, and interest charges.

 

 

This article was written by Donald M. Scherzi, CPA, CFP, LLC

 

Mike Lupo, SCORE Counselor

 

Visit us at: www.scoresouthflorida.net

 

Suggestions For Sales Prospects

Seek out trade directories, sphere of influence relations, prior customers, new business operations that are prospects for your product/service. Prioritize this list as to who can be closed rather quickly, who is having financial issues, and conversely who is having a great year and would have the funding to support new services or products.


Find the decision maker and send via priority mail a two - three page PowerPoint about you, your company, and your product. Keep it very brief, to the point of trying only to get the appointment. You are not selling for an order in this call. Be sure your product, service etc., is positioned to fill the need you are trying to close/fill. Product positioning is critical to "spinning" the need for your company.

SMILE during the phone call (people sense it) and be sure to point out why you truly believe your product or service is a perfect fit and/or need for them. Follow up, have patience, focus and love what the results of a successful call can be to you.




OWEN KOFF Score Counselor
Visit us at: www.scoresouthflorida.net

 

Tax Scams & How to Protect Yourself

 

Tax scams are becoming both more frequent and more sophisticated. As a taxpayer, it is critical that you are aware of some of these scams and how you can protect yourself.

 

REMEMBER: The IRS doesn't initiate contact with taxpayers by email, text messages, or social media channels to request personal or financial information. In addition, the IRS doesn't threaten taxpayers with lawsuits, imprisonment or other enforcement actions.

 

Common tax scams include the following:

 

1-Fake IRS Impersonation Telephone Scams

 

2-Fake Email

 

3-Phishing

 

4-Malware Schemes

 

5-Fake Text Messages

 

6-Fake Social Media

 

7-Fake Robo-Calls

 

8-Fake Snail Mail

 

How you can protect yourself:

 

1-IMMEDIATELY hang up on anyone calling claiming to be from the IRS.

 

2-NEVER open any emails claiming to be from the IRS or tax related.

 

3-NEVER respond to text messages claiming to be from the IRS or tax related.

 

4-IGNORE social media information if you are contacted regarding your tax information.

 

5-NEVER give out personal or financial information to anyone you do not know and cannot verify.

 

REMEMBER: If in doubt, ALWAYS contact the IRS directly at 800-829-1040. The IRS will only contact you by mail and even then you should call the IRS to verify the notice is legitimate and not a scam.

 

 

This article was written by Donald M. Scherzi, CPA, CFP, LLC

Mike Lupo, SCORE Counselor

Visit us at: www.scoresouthflorida.net

 

 

 

 

Local STEM Problem

 

Miami to West Palm Beach rated 78 out of 100 in a recent Wallethub study of welcoming destinations for people with Science, Technology, Engineering and Math backgrounds. This is a major issue for the area, as it is these backgrounds that create and sustain innovation. The study found an overabundance of low-skill, low-wage labor in the area.

 

This is not a good situation going forward, and should put more energy behind efforts for change.

 

What can you and your company do?

 

Steve Koenig, Score Counselor

Visit us at: www.scoresouthflorida.net

 

 

Small Business Payroll Questions to Consider

  

Payroll is an area that is often confusing for many business owners. Often, this confusion leads to problems with the IRS, resulting in various penalties and interest charges.

 

That's why all business owners need to consider a number of important issues regarding payroll such as:

 

1-Who is considered an employee and who is considered an independent contractor?

 

2-Should I do my own payroll or outsource it to a third party?

 

3-As the owner of the business, what is my employment status and how do I pay myself?

 

4-What are the consequences of hiring a spouse or children?

 

5-What fringe benefits can I offer my employees?

 

6-What federal and state payroll tax returns need to be filed and when are their due dates.

 

7-What are the rules to make federal payroll tax deposits with the IRS.

 

8-What safeguards and procedures should I follow if I outsource payroll to a third party?

 

9-What flexibility do I have regarding payroll in general?

 

10-What paperwork do I need to obtain when hiring employees.

 

11-What payroll records do I need to keep and for how long.

 

IRS Publications 15, 15-A, and 15-B cover federal payroll issues and are free by calling the IRS at

1-800-829-3676.

 

When it comes to payroll, you want to be sure everything is property done, on time, every time.

 

Remember, payroll not only impacts your business and taxes, it also impacts your employee’s taxes as well.

 

This article was written by Donald M. Scherzi, CPA, CFP, LLC

Mike Lupo, SCORE Counselor

Visit us at: www.scoresouthflorida.net

 

Conference for Small Business Owners

Conference for  Small Business Owners

SAVE THE DATE!! You are invited to attend The 8th Annual SCORE Business Conference  Saturday, May 6th - 8:00 AM to 4:00 PM  Saint John Paul II Academy, Boca Raton GOOGLE-GODADDY-YELP-CONSTANT CONTACT-OFFICE DEPOT FOUNDATION and 20 other seminars and experts    Just 500 Free tickets so act NOW! Click here to register Here's Why You Should Attend: Office Depot Foundation's President, Mary Wong who has been named one of America's Top 20 Women in Philanthropy, Social Innovation and Civic Engagement by Philanthropy Media will deliver an inspirational presentation on overcoming personal obstacles, perseverance, success and much more. Google's Stasia Kudrez* will show you how to get the customers you want to your website, get found on Search and get Google to verify your business at the event. Yelp's Genna Gold*, manager of local business outreach, will help you learn the tricks on how to get your customers to rave about you online and convert those raves to sales. Go Daddy's Shawn Pfunder* will teach you fun ways to get and keep customers and get them to purchase more. Constant Contact's Pamela Starr*, director of training for all of North America, will teach you how to build relationships to build your business and increase sales. You will get a free trial account and free setup help at the conference.    Exclusive Appearances by all Speakers* (only time in Florida this year) MORE - MUCH MORE Virtual Reality in Action Demo and how to use it in your business! Workshops and Round tables with Major Speakers and Over 20 Seminars 30 Minute Speed Mentoring Sessions, sign up at conference Networking during the included Breakfast and Lunch Special Feature: Hear from 3 successful local entrepreneurs who have built Multi-million dollar businesses from scratch. Learn how they did it and get timely tips from them and participate in an Open Q & A Just 500 Free Tickets Available Don't Miss Out  Register Now Click Here   or call (561)981-5180 Monday to Thursday 9:00 AM to 12:30 PM

South Palm Beach SCORE 7999 North Federal Highway Suite 201 Boca Raton, FL 33487 (561)981-5180  Please support our sponsors:

Forward this email Constant Contact is a proud sponsor of SCORE South Florida SCORE | SCORE South Florida | 7999 N. Federal Highway | Boca Raton | FL | 33487

Special Counselor of the Month

We are delighted to shine the spotlight on a distinguished member of our staff who by his or her efforts brings great credit to our organization. This month we are honored to salute:

LARRY WEISSMAN 

 

When Larry joined our Chapter, a little over two years ago, he brought with him an impressive portfolio of 35+ years of executive leadership in the fast food industry, along with a sterling record of community service. And it hasn’t taken very long for Larry’s mentoring and leadership skills  to reflect well, both for our clients, and the Chapter itself.
Larry quickly demonstrated his expertise working with clients, and he has broadened that base  by becoming an Online Mentor to  the SCORE national community, where he serves clients across the country by Skype and email.
In addition, Larry has established a new client Roundtable devoted to Sales & Marketing, which he expertly facilitates each month. He also has served on Ad Hoc committees, and currently serves on the Strategic Planning Sub-Committee, where his marketing knowledge will richly benefit the planning process.
When Larry joined the Chapter, members of the CTT commented on the impressive bios of the group he joined with. That observation has richly borne fruit, and we are delighted to announce that Larry has been elected Special Counselor of the Quarter for January, February, and March 2017.
Thank you Larry, for all you do. You truly have made us a better Chapter, and we all congratulate you and wish you continuing success!