Year-end 2020 Check List
New for 2020 Year-end There is a new Form 1099 MISC with several changes. If you only have 1099 activity in 2020 for “non-employee compensation,” then you will need to use the new Form 1099 NEC. If you have more Read More
Statement of Functional Expense – Sneak Peek
New General Ledger report for Release 9.2.Here is a quick snapshot of one report view. I plan to post a set of instructions for setting up and using this new report in a future post. Questions? Leave a comment.
2018 Year-End Tax Update
The Financials Release 9.2, which is scheduled for the last week of November, will contain over 20 year-end tax updates. At the state level, Oregon added a new Transit tax starting July 1 and now the state legislature has decided it should Read More
Qualified Small Employer Health Reimbursement Arrangements (QSEHRA)
Starting January 1, 2017 employers with less than 50 employees can offer employees a reimbursement for medical insurance that provides minimum essential coverage (MEC). There are a number of requirements and regulations that should be considered before deciding to provide Read More
Year-End Check List
Federal Reports Make sure you have blank forms for all IRS needed filings. NELCO has what you need. Click Here to order forms Deadline for filings now is January 31, 2018 for most reports General Ledger Check all sub ledgers Read More
Employer Paid Health Care Value
Employers, including nonprofit organizations, are required, beginning in calendar year 2017, to report the fair market value of provided health care benefits. This information is to be included on IRS Form W-2 in Box 12, using code DD, for every Read More