Client Update Newsletter: Summer 2013

When it comes to your business there is no one-size-fits-all formula to success – and your relationship with your CPA should be just as unique. That’s why we promise to deliver The Highest Standard of client service built on a foundation of frequent communication.

This newsletter is just one of the ways we help you stay up-to-date on tax and financial issues that impact small business owners. From year-round tax planning to tips on how to maximize profits, this valuable resource is a must read. This quarter’s topics include:

  • Give your children a good financial education
  • Recordkeeping: How to get all that paper under control
  • Six mistakes to avoid in selling your business
  • Tax Talk: Check your withholding and Don’t fall for bogus IRS e-mails
  • Can happy employees equal healthy profits?
  • Foreign assets may require two filings

Click Here to Download the Newsletter

Coffee and Tablet

We've moved!

Insero & Company is pleased to announce that our Rochester office has recently relocated to:

Crossroads Building
2 State Street, Suite 300
Rochester, NY 14614
(Driving Directions)

Our move and plans for the future were recently featured in the Rochester Business Journal.

“We’re in a growth mode,” Managing Partner Nancy Catarisano said. “We’re hoping to double the size of the firm in the next five years through additional services to our clients.”

“It was never a question of us not staying downtown. We are committed to being in the hub, and to the vibrancy of the city. We had a lot of people approach us to move to the outskirts, and it’s not something we chose to do. We like to be around all the attorneys, the bankers, just more activity going on in the city.”

Click Here to Read the Full Article

If you’re in the neighborhood, feel free to stop by and visit our newly remodeled space. We’re still working on the finishing touches, but here are a few sneak peaks of what you might find:

New Office Collage

Receiving Inventory With or Without Bills in QuickBooks

The QBC: QuickBooks® Client Newsletter

When your goods come rolling in, be sure to document them correctly.

Inventory

You’re probably happy to see couriers delivering inventory items you’ve ordered since it means you can ship to customers, but recording the new stock means yet another repetitive task.

QuickBooks’ tools can help with this, but you need to be sure you’re using the right forms. There are two different procedures you may use, depending on whether or not you’ve received a bill.

Click Here to Read More

For more QuickBooks tips, tricks and info on training from our team of Certified QuickBooks ProAdvisors® subscribe to The QBC.

Happy Hour for Habitat

The Rochester Young CPAs have pledged to raise $75,000 to help Flower City Habitat for Humanity can build a home alongside a low-income family in Rochester.

Dusty Faske for Habitat

Insero & Company has pledged our support as a champion team, and invite you, your family, friends & clients to join us as we step behind the bar at Wall Street Bar & Grill to serve you! All of our hard-earned tips will go directly towards helping build the home.

We do hope you can join us, but if you can’t make it, please consider contributing to the cause by clicking donate below.

Thank you,

Kim & Dusty

CPA Build Button

When: Wednesday July 10th, 2013, 6:00-9:00pm (we’ll be serving from 7:00-7:30pm)

Where: Wall Street Bar & Grill, 330 East Avenue, Rochester, NY 14604 (map)

Who: Kimberly Gangi & Dusty Faske

Health Care Reform Update

Join us for a Health Care Reform Update, the 2nd installment of Insero & Company’s 2013 CPE Series. The CPE Series provides financial professionals and business owners with relevant, up-to-date information and networking opportunities at an affordable price.

2013 CPE Series Logo-01

Health Care Reform and the Affordable Care Act are here. Find out what employers like you need to know to implement changes while staying in compliance and avoiding penalties and unexpected costs.

Click Here for More Information and Registration

When: Tuesday, July 23, 2013, 8am-10am

Where: Locust Hill Country Club, 2000 Jefferson Road, Pittsford, NY 14534

Cost: $30 per person ($20 through July 9th with $10 Early Bird Discount)

Presented By

Michael Gurowski, President, Titan Insurance & Employee Benefits Agency, LLC

Sharon Pappas, Compliance and Benefits Technology Specialist, Titan Insurance & Employee Benefits Agency, LLC

Ed Hilton, Underwriting Manager, Titan Insurance & Employee Benefits Agency, LLC

To view additional upcoming events, please visit our website.

To receive updates on future events, please join our mailing list.

The QBC: How to Create a Progress Invoice from an Estimate

The QBC: QuickBooks® Client Newsletter

Not using progress invoices? Maybe you should be.

Hands Typing

The U.S. economy may be picking up, but your customers are probably still being very careful with expenditures. If your company’s finances will allow it, you can help them out on sizable jobs by using progress invoicing, also known as partial billing or progress billing.

You could, of course, simply create invoices for smaller chunks of the job as they come. A smarter way is to build estimates for the entire job or sequential phases so your customer can see the big picture. You can still use progress invoicing to start collecting funds one segment at a time.

Click Here to Read More

For more QuickBooks tips, tricks and info on training from our team of Certified QuickBooks ProAdvisors® subscribe to The QBC.

4th Annual Tax Update

Join us for our 4th Annual Tax Update as we kick-off the 2013 CPE Series. Insero & Company’s CPE Series seminars provide financial professionals and business owners with relevant, up-to-date information and networking opportunities at an affordable price.

2013 CPE Series Logo-01

Whether you have 5 employees or 500, change may be on the horizon for your business.

  • Get up to speed on current rules and regulations
  • Be aware of changes that could increase your tax bill
  • Plan for changes to keep your effective tax rate low

Click Here for More Information and Registration

When: Tuesday, June 18, 2013, 8am-10am

Where: Locust Hill Country Club, 2000 Jefferson Road, Pittsford, NY 14534

Cost: $30 per person ($20 through June 4th with $10 Early Bird Discount)

 

Presented By

Steven Mills, CPA, Partner, Insero & Company CPAs, P.C.

Don Susswein, Principal, Washington National Tax, McGladrey LLP

Mark Peterson, President & CEO, Greater Rochester Enterprise

 

The dates and topics for the remainder of the series will be announced at the Tax Update on June 18, 2013. If you are unable to attend, but would like to receive updates on future events, please join our mailing list.

The QBC: 10 Tips for Perfect Check-Printing

The QBC: QuickBooks® Client Newsletter

Be sure that you’ve established all the right settings and understand the process.

closeup of blank check

If you used small business accounting products in the early days, you know how frustrating it was to print checks correctly from your software. Pre-printed checks weren’t cheap, and you probably printed at least a few that didn’t line up right or were otherwise unusable.

Printing checks from QuickBooks has gotten easier, and online banking has made this task less of a necessity for many businesses. But when you do print checks, precision is still required.

So to save time and money, minimize frustration, and ensure that everything will be copacetic when your checks are processed at the bank, it’s important that you use the tools that QuickBooks offers appropriately. If you’ve been having trouble with check-printing or you’re considering attempting it, here are a few tips to keep in mind.

Click Here to Read More

For more QuickBooks tips, tricks and info on training from our team of Certified QuickBooks ProAdvisors® subscribe to The QBC.

Let us pour you a drink!

Really! We’ll be tending bar at Easy on East to benefit the Flower City Habitat for Humanity Women Build on Friday, April 26, 2013.

Join Us Guest Bartend

Each year Insero & Company’s employees raise funds and volunteer their time to help build a home for a single mom. That’s why we’ve volunteered to step behind the bar and donate all cash tips from 6-9pm. The event will also feature live music, a 50/50 raffle, and free parking at the East End Garage.

We do hope you’ll join us and our team for an evening of fun for a great cause!

Sincerely,

Nancy & Vince

Who: Nancy Catarisano & Vince Leo 

When: Friday, April 26, 2013, 6-9pm (we’ll be behind the bar from 6-7pm)

Where: Easy on East, 170 East Ave, Rochester, NY 14604 (map)

Women Build Donate Button

Are your employees taking advantage of your company’s retirement plan?

Your company’s retirement plan is an important part of your employees’ total compensation package. It can be a contributing factor in both attracting and retaining a quality workforce. One way you can maximize this benefit is by offering automatic enrollment for your employees.

Nest Egg

In addition to making it easy for employees to save for their retirement, automatic enrollment dramatically improves participation which can also, depending on your type of arrangement, make it more likely that your plan will pass annual nondiscrimination testing. It’s a win-win.

As an employer, you have two choices when it comes to automatic enrollment arrangements:

Eligible automatic contribution arrangements (EACAs)

  • More flexible rules on employer/employee contributions
  • Subject to annual nondiscrimination testing
  • Employer can set up a vesting schedule of up to 6 years

Qualified automatic contribution arrangements (QACAs)

  • More restrictive rules on employer/employee contributions
  • Automatically passes non-discrimination testing
  • Employer contributions must fully vest upon 2 years of service

Ready to take the next step? Once you’ve chosen the type of arrangement you’d like to set up, you’ll need to amend your plan document and set up default investments. You’ll also need to provide your employees with a notice describing the new process and participant rights.

Keep in mind, however, that regulations related to employee benefit plans are constantly evolving. Insero & Company has an experienced, dedicated Benefit Plan Audit Team, so you can count on our ERISA knowledge and ability to provide answers to your questions; from filing and reporting requirements to complex interpretations of benefit regulations.

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