Bookkeeping Enterprises

Are you a business in California and have 5 or more employees? This year, retirement plans will be required for California employers with five or more employees. The legislation passed in 2016 required all employers with five or more employees to offer a retirement savings account. This law also applies to nonprofit organizations. 2022 brings the final implementation phase requiring organizations with 5-49 employees to comply by June 30, 2022. If you already sponsor an employee-retirement plan, you are meeting this requirement.

The deadline for implementation for organizations with more than 49 employees has passed, and the Franchise Tax Board is in the process of enforcement. More information on how to respond if you have received a notice is on this web page: https://buff.ly/3hSHQ4L.

For more information and bookkeeping help, contact the experts at Bookkeeping Enterprises today.

📱 949.243.0032
✉ [email protected]
🌐 http://www.bkkgent.com

401k

Are you still storing your business receipts in a shoebox? If so, you might want to rethink the way you organize business receipts to tidy up for the new year.

Disorganized receipts can put your small business at risk of sloppy and inaccurate books. Not to mention, messy records can increase your chances of making errors on your business tax return and cause more issues in the future.

To get your business receipts organized prior to year-end, you can:
✔️ Sort receipts by type of expense
✔️ Use folders and labels
✔️ Organize receipts chronologically
✔️ Store receipts digitally on your computer or device

To keep your receipts in shipshape year-round, make sure you organize them from the get-go. As soon as you get a receipt, organize it using your filing or storage system. That way, you don’t have to worry about misplacing the receipt or forgetting to account for it.

If you use accounting software, you may even be able to attach receipts and documents to transactions to better track them.

For more information and bookkeeping help, contact the experts at Bookkeeping Enterprises today.

📱 949.243.0032
✉ [email protected]
🌐https://bkkgent.com