Sum of All Numbers, Inc.,  Bookkeeping and Payroll Specialists is a forward thinking, innovative and friendly company who provides cost effective solution to our clients back office account needs.  In addition, we emphasize organizational systems and structures to assist in maintaining efficiently run offices that minimize the time and cost in dealing with outside professionals such as CPA’s, Auditors, Tax Advisors, Banks and Investors. It is the quality and professionalism of our staff that has made us successful. Sum of All Numbers, Inc staff is made up of people who want to work during normal business hours and close to their homes. What sets us apart from other companies is that the staff let us know what their interests are, hours they would like to work, and in return to your commitment to our company and the way we work, Sum of all Numbers, Inc. provides a supportive team working environment that includes a small business atmosphere where the staff come first. We work in a team environment and are looking for people that will come on board with the company vision and are in alignment with where the company is headed.

Title: Client Account Manager
Duties Include: Data Entry, Bank Reconciliations, Adjusting Entries, Preparing Balance Sheet, Preparing Income Statement, Preparing Profit and Loss Statement and providing information and additional reports as directed.
Software: QuickBooks, Excel, Google Apps

Location: Mostly working remotely from home,  with some on-sight work with clients and meetings with Sum of All Numbers staff.

*Important Note* – We are only looking for employees available during normal working hours that are willing to make a long term commitment to working together under the name of Sum of all Numbers, LLC. Thanks in advance for understanding our niche.

Please call 510-877-8237 to apply for this position.  NO EMAILS WILL BE RESPONDED TO.

If you are an eligible small employer or a tax-exempt eligible small employer, you may qualify for the small employer health insurance premium credit. This credit is one of the first health care reform provision to take effect as a result of the Health Care Act that was enacted in 2010. The credit reduces a small employer’s tax liability and is claimed on the employer’s income tax return; for eligible tax-exempt employers, the credit reduces the organization’s payroll taxes.

• Eligible small employers – Eligible small employers may receive the credit if they had fewer than 25 full-time equivalent employees (FTEs) for the taxable year; paid average annual wages to employees of less than $50,000 per FTE; and offered employer-paid health insurance premiums for each employee enrolled in health insurance coverage under a qualifying arrangement. The employer must pay at least 50 percent of the premium for an employee-only plan.
• Figuring the number of FTEs – The number of an employer’s FTEs is determined by dividing the total hours the employer pays wages during the year (but not more than 2,080 hours per employee) by 2,080. The result, if not a whole number, is then rounded down to the next lowest whole number if any.
• Credit Amount – For taxable years beginning in 2010 and through 2013, the maximum credit for small employers is 35 percent of premiums paid and 25 percent for tax-exempt small employers. The credit also offsets the alternative minimum tax.
• Credit Phase-out – The full credit is only available to eligible small employers with 10 or fewer full-time equivalent employees (FTEs) with an average annual full-time equivalent wage (AAEW) of $25,000 or less. If either or both of these thresholds are exceeded, then the credit is reduced. In addition, the employer’s deduction for health insurance premiums must be reduced by the credit claimed.
• Excluded Individuals – The following individuals are excluded from the credit: business owners, including sole proprietors; LLC members; partners in a partnership; 2 percent or greater shareholders in an S corporation; 5 percent or greater owners in a C corporation; family members of the individuals listed above; and seasonal employees.

The credit can be taken every year through 2013. Beginning in 2014 the credit amount increases to 50 percent for eligible small employers and 35% for tax-exempt small employers. However, the post-2013 credit is only available to an eligible small employer that purchases health insurance coverage for its employees through a state exchange and is only available for a maximum coverage period of two consecutive tax years beginning with the first year in which the employer or any predecessor first offers one or more qualified plans to its employees through an exchange.

If you have any questions regarding this credit, please give this office a call

If you give someone money or property, you may be subject to the federal gift tax. Most gifts are not subject to the gift tax, but here are some tips to help you determine whether your gift is taxable or if you are required to file a gift tax return.

1. Most gifts are not subject to the gift tax. For example, there is usually no tax if you make a gift to your spouse or to a charity. If you make a gift to someone else, the gift tax usually does not apply until the value of the gifts you give that person exceeds the annual exclusion for the year. For 2011, the annual exclusion is $13,000.
2. Gift tax returns do not need to be filed unless you give someone other than your spouse money or property worth more than the annual exclusion for that year.
3. Generally, the person who receives your gift will not have to pay any federal gift tax because of it. Also, that person will not have to pay income tax on the value of the gift received.
4. Making a gift does not ordinarily affect your federal income tax. You cannot deduct the value of gifts you make (other than gifts that are deductible charitable contributions).
5. The general rule is that any gift is a taxable gift. However, there are many exceptions to this rule. The following gifts are not taxable gifts:
   • gifts that are not more than the annual exclusion for the calendar year,
   • tuition or medical expenses you pay directly to a medical or educational institution for someone,
   • gifts to your spouse,
   • gifts to a political organization for its use, and
   • gifts to charities.
6. Gift Splitting – You and your spouse can make a gift up to $26,000 to a third party without making a taxable gift. The gift can be considered as made one-half by you and one-half by your spouse. If you split a gift you made, you must file a gift tax return to show that you and your spouse agree to use gift splitting. You must file a Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, even if half of the split gift is less than the annual exclusion.
7. Gift Tax Returns – You must file a gift tax return on Form 709 if any of the following apply:
   • you gave gifts to at least one person (other than your spouse) that are more than the annual exclusion for the year;
   • you and your spouse are splitting a gift;
   • you gave someone (other than your spouse) a gift of a future interest that he or she cannot actually possess, enjoy, or receive income from until at some time in the future; or
   • you gave your spouse an interest in property that will terminate due to a future event.
8. You do not have to file a gift tax return to report gifts to political organizations and gifts made by paying someone’s tuition or medical expenses.

Tax time does not have to be a four-letter word! With a little planning, the right information and help from us, you can navigate those pesky tax write-off quandries. What are some of your questions regarding deductions?