Business by Design, Inc.

APRIL 15th - 2009 Personal Tax Return Deadline

2010-03-24T14:10:17Z

This is just a reminder your 2009 personal tax returns are due on APRIL 15. Our deadline to have information in our office to meet the 4/15 deadline is Friday, March 26th. ALL your tax information will need to be in our office by 3/26 to ensure your return will be filed by 4/15.

WHAT IF I CAN NOT MEET THIS DEADLINE? If you can not meet this deadline, NO NEED TO WORRY - we will automatically file an extension for you. You do not need to sign anything for us to file an extension for you.

WHAT IF YOU HAVE TAX DUE? If you owe tax, it must be paid by 4/15/10 to avoid additional interest and penalty. We can help you to estimate any tax due and provide you with the information you will need to make payment. Please contact us as soon as possible if you think you will owe tax.

WHAT IF I WANT TO DROP MY INFO OFF AFTER 3/26? We encourage this, and would be happy to schedule a tax drop appointment with you. At this appointment we will be sure you have a proper tax estimate paid for the 4/15 deadline.

WANT MORE INFO?

For more information, click the following link to download additional details about this process. CLICK HERE: 2009 Personal Extensions.pdf

5 STAR WEALTH MANAGER AWARD for 2010.

2010-02-08T19:58:10Z

Business By Design is proud to announce we have been awarded the FIVE STAR Wealth Manager for 2010. This award was published in the January 2010 issue of Twin Cities Business Magazine and the Minneapolis St. Paul Magazine.

This award would not have been possible without the help of the terrific staff I have here at Business By Design, and the wonderful client relationships we have. A huge "Thank You" goes out to all of you who contribute to our success.

Please click on the link below to view our profile and information about the award.

Click HERE: http://video.fivestarprofessional.com/mspwm2010/paulmiller

Click HERE for .pdf version: 5 Star Award info w-profile.pdf

Make a cash contribution now for Victims in Haiti, and deduct for your '09 taxes.

2010-01-26T20:46:52Z

UPDATE FROM THE IRS:

Any cash contribution made after Jan 11, 2010, and before Mar 1, 2010 for the relief of victims in areas affected by the Jan 12, 2010 earthquake in Haiti are eligible to claim the contribution as if they made it Dec 31, 2009.

The acceleration of Income Tax Benefits for Charitable Cash Contributions for Relief of Victims of Earthquake in Haiti (P.L. 111-126 (H.R. 4462)) enacted on Friday, Jan 22, 2010, allows taxpayers who itemize deductions on their 2009 return to qualify for this special tax relief.

]]> The new law applies to cash (as opposed to property) contributions. The contributions must be made specifically for the relief of victims in areas affected by the Jan 12 earthquake in Haiti.

Taxpayers have the option of deducting these contributions on either their 2009 or 2010 returns but not both.

Taxpayers donating to Haiti relief by using their cell phone text messaging service may use a telephone bill showing the name of the donee organization, the date of the contribution, and the amount of the contribution as meeting the recordkeeping requirements of Code section 170(f)(17).

More details can be found in the IRS news release IR-2010-12 issued on Jan 25, 2010.

Workers Comp Insurance Reminder.

2010-01-18T19:45:49Z

Do you need to have workers compensation insurance? Workers Compensation covers employees for "on the job" related injuries. Many people are confused on this issue and are not sure if they have to have workers compensation insurance. I have some information here to explain the requirements.

GENERAL REQUIREMENTS:

GENERALLY - ALL EMPLOYEES must be covered under a workers compensation policy.
EXEMPT EMPLOYEES: Some employees are exempt from coverage. You can get a complete list here: https://www.revisor.mn.gov/statutes/?id=176.041. If you are an owner, officer or family member of an owner, you probably are exempt from having coverage.
I have provded a file explaining the coverage requirements more in detail for you to review. Please Click Here to view this file: Who Needs Workers Compensation.pdf
Minnesota Department of Labor does conduct audits on this issue and you can be fined for not having coverage if you are required to do so.

WHO DO I CONTACT ABOUT COVERAGE?

Your Insurance Agent should be able to provide you with the information you will need about this coverage. They can discuss the coverage, if it is necessary, and the costs related to coverage. Please contact your insurance agent to be sure you have the proper coverage.

Sales & Use Tax Returns - 2009

2010-01-18T17:22:48Z

REMEMBER: You need to file your sales and use tax return by February 5th, 2010.

If you do not regularly file a sales tax return, you need to file a "Sales & Use Tax" return by 2/5/10. Click here to file: https://www.mndor.state.mn.us/ur/jsp/Login.jsp

"But I do not collect sales tax or have taxable services!"

Many people think this, however you must file a return for USE TAX as well as SALES TAX. USE TAX is the sales tax you should have paid on purchases you may have bought over the internet or in other situations where you did not pay the sales tax at the time of purchase. This sales tax must be paid in voluntarily and must be paid online.

Business By Design can not file this return for you! For more infomation, click below to download details about filing this return and filing requirements:

BBD's Explaination: Explaination of Sales & Use Tax -2009.pdf

Frequently Asked Questions: MN Sales and Use Tax FAQ's - 2009.pdf

Directions to MN online filing: MN Online Tax Directions- Sales & Use 2009.pdf

For more information, you can go to the MN Department of Revenue Website at: http://www.taxes.state.mn.us/taxes/sales/index.shtml

2009 Tax Organizers.

2010-01-16T17:40:54Z

It is time to get your tax information ready again!

I don't know many people who look forward to doing their taxes, but it is something we all must do. We have tried to make things as easy as possible for you this year to complete your 2009 taxes. All the tax information you need is loaded in this site and ready for you to download.

Please click on the organzier you need to download it an complete it. To access the forms, please click on the "2009 Tax Forms" tab or click on the link here:

http://blog.biz-by-design.com/2009-tax-forms.html

Please let us know if you have an issue downloading any of these forms you may need.

Call 952-392-1200 for your tax appointment.

2009-01-29T17:17:49Z

Just a reminder, to make a tax appointment please call our office at 952-392-1200. We will be happy to schedule a time that is convienent for you. If you have any questions on what you need to bring in, please let us know and we will help you. We will make every attempt to make your tax preparation as easy as possible.

NEED TAX ORGANIZERS - CLICK HERE:

http://blog.biz-by-design.com/tax-forms.html

New Law for 2009: Independent Contractors

2009-01-22T14:55:57Z

ATTENTION: A new state law effective Jan. 1, 2009, requires individuals (not corporations, LLCs or partnerships) who work as independent contractors in the building construction industry to obtain from the Department of Labor and Industry an Independent Contractor Exemption Certificate (ICEC).

To obtain an ICEC, individuals must complete and submit an application, fees and supporting documents that establish they meet the conditions required to operate as an independent contractor. To operate as independent contractors, individuals must be able to meet the conditions set out in the law's nine-factor test.

For details about the Independent Contractor Exemption Certificate program and requirements, view the following fact sheet, brochure and slide show, or visit the FAQ page

]]> WHAT IF YOU DO NOT FOLLOW THESE RULES?

Contractors who employ individuals who do not have an ICEC will face civil penalties if they do not provide workers' compensation and unemployment insurance to these individuals, and do not properly withhold state and federal taxes from their employees' pay.

In addition to penalties for failure to provide workers' compensation and unemployment insurance, employers may also be subject to civil penalties of up to $5,000 per violation for violating provisions of the ICEC laws and rules. Individuals may also be subject to civil penalties if they provide false or misleading information in an ICEC application, fail to meet all requirements of the nine-factor test to qualify as an independent contractor, allow another person to use their ICEC, misrepresent their status as an independent contractor, or alter or falsify an ICEC.

Welcome to our new Blog

2009-01-14T12:56:33Z

What the heck is a blog??? Many of you may already know about blogs, but some of you may not. The easiest way to think of a "BLOG" is like a newspaper article. Someone writes an article and you read it.

At Business By Design, I wanted to provide you with a new way to get information about your business, your taxes, and about us. Going forward, this "Blog" will be the primary way Business By Design will provide you with timely information, news, tax tips, and other related information we deem to be important to you. I will promise you that I will not waste your time with useless information.