EIDL is Accepting Applications for ALL Businesses

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. ​ The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid. ​ As of April 24th the SBA has approved $7,967,174,888 in loans to 38,984 businesses. The SBA has processed $4,805,897,000 in advances to 1,192,519 businesses. The funds from this first round of funding have run out, however an additional $10 billion for Economic Injury Disaster Loan...

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Change is Coming. Could that work be done from home?

Change is Coming Could that work be done from home?   Once the semblance of normalcy returns, the status quo can shift. In the coming weeks, the workforce will prove day to day operation can continue, regardless of where the employee is. With the freedom of remote work options, employees are likely to ask for the option once again. It could also reshape how and why companies choose to meet, with the potential to disrupt the flow of people traveling for meetings. For a long time, sectors have flown people around the world for meetings because of tradition and habit. It will be interesting to see how much companies can save without doing that. Real-time communication is necessary for brainstorming, collaboration and back-and-forth discourse. But there's a lot that can be accomplished through screen sharing or independently adding to the building blocks of a product before coming together. Some companies have work from home options and employees. Some even have "flex Fridays" where...

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Coronavirus Disruption And Your Workplace In The Post-COVID World

Coronavirus Disruption And Your Workplace In The Post-COVID World Pandemics catalyze innovation and accelerate change by providing an environment for launching and testing new ideas. Today's coronavirus is already changing cultural and business norms shaking to the core of what we have taken for granted for decades and centuries. The simple act of a handshake is increasingly becoming a relic, even as we surgically wash our hands a dozen times a day. Remote workers were already on the rise, but "working from home" is now becoming a "new normal". Work from home will lead to a myriad of workplace changes impacting teamwork, productivity, collaboration, and communication. Since the coronavirus outbreak shares of Zoom, the work from home tool of choice have significantly outperformed the markets in value, an early sign of a market that is already anticipating changes. We can expect to see these transformations continue to impact how we think about office real estate and business...

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RESPOND, RECOVER and THRIVE

The spread of COVID-19 is impacting business in many ways not only affecting the supply chain and retail store fronts, but also finance and operations. Many places in America have been on lockdown the last 30 days. Many small business owners are left feeling isolated and wondering how they can adapt to keep their doors open in the future. Our goals at A Simple Office Solution are to assist business owners to respond, recover, and thrive. As accounting and finance professionals, our Controllers are trained to respond to many different types of situations. While no one could have anticipated the impact of COVID-19, our Controller team has worked together to respond to this crisis by being pro-active. Not only did we reach out to clients to educate about the various government programs, but we also assisted in applying. By reaching out to our clients to respond to crisis together, we made sure they knew that they weren’t alone. As funds from the CARES act start rolling in, A Simple...

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Five Things Every PPP Borrower Should Do After Receiving A Loan

The Paycheck Protection Program (“PPP”) is the crown jewel of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The CARES Act allocates $349 billion to the PPP loan initiative in an effort to stabilize small businesses during the COVID-19 outbreak and to allow them to retain their workforces while weathering the Coronavirus storm. But while $349 billion is a staggering number, it is unlikely to be enough to satisfy the demand for capital. The appropriated funds will go fast, and it is a first-come, first-served program. Indeed, reports are already indicating that Treasury Secretary Mnuchin is seeking an additional $250 billion for the PPP loan program. Applications for PPP loans were available for submission on April 3rd. Processing began in earnest for small businesses and sole proprietorships this week. The U.S. Small Business Administration (the “SBA”) is opening up applications for independent contractors and self-employed individuals starting April 10th....

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ASOS CORONAVIRUS UPDATE

EIDL is Accepting Applications For All Businesses 6/18/2020 As of June 15, the SBA has reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program for ALL qualified small businesses. If you have not applied and need additional access to low-cost capital, we recommend applying as soon as possible. While the application is open until December 16, 2020, the funds are first-come-first-serve and are limited. READ MORE LEARN HOW TO APPLY   Important PPP Updates 6/5/2020 There have been important updates from the SBA regarding how your Paycheck Protection Program (PPP) loan will be forgiven.  The PPP loan forgiveness timeline has been extended. PPP loan funds may now be used up to 24 weeks from the date of funding. Previously, SBA guidelines stated that a PPP loan had to be used within 8 weeks of the funding date in order to be considered for forgiveness.  Additional highlights to be aware of: • If you borrowed before today, June 5, 2020, you will need to opt-in to the...

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Tips to help stay secure when you work from home

The coronavirus is changing the daily habits of millions of people globally, including where they work. Many employers are telling their employees — or offering them the option — to work from home. Companies such as Apple, Google, and Microsoft have announced they are allowing staff to work remote to help protect against the coronavirus, or COVID-19, the name of the respiratory disease it causes. The idea: Protect health and help control the spread of the disease. If you decide to work remote, it’s a good idea to keep cybersecurity in mind. That means protecting your devices and data, just like you would in the workplace. Here are some tips to help keep your connections secure. 1. Keep close contact with your employer It’s smart to stay on top of company communications. Your inbox might contain emails about policy changes ranging from work hours to travel. Your employer might consolidate coronavirus-related information on the company intranet. If you have questions, ask. Why it’s...

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CARES Act Simplified

The CARES ACT Simplified We simplified the details to help you understand both if you qualify and how you can apply for these programs. The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed and signed into law on Friday of last week. This bill contains many parts, several of which pertain to small businesses. We will discuss the Paycheck Protection Program, the Employee Retention Payroll Tax Credit and the Employer Payroll Tax Deferral below. Paycheck Protection Program The Paycheck Protection Program (“PPP”) authorizes approximately $350 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. These loans are available through June 30, 2020. Who can apply? • Any business, including 501(c)(3) and 501(c)(19) non-profits, with 500 employees or fewer that was in operation on February 15, 2020. • Traditional SBA affiliate rules have been waived in certain instances.  (If you have a question about whether affiliate rules apply...

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We Are Your Multifaceted Full-Service Accounting Firm

We Are Your Multifaceted Full-Service Accounting Firm   • Personal Approach Through Multiple Communication Channels • Every Client Has a Dedicated Accountant and Direct Access to The CEO • 100% USA – We Are Remote But Not Outsourced to Another Country • We Have Built the Bulk of Our Client Base on Referrals Since 2006
• Bookkeeping, Accounting, Controller, CFO Services, Taxes, Compliance. • Completely Digital Platform using the most current software and systems available. • Nationwide Coverage With Extended Hours (Coastal times) • ADP Advisory Board
• Member of National Association of Women Business Owners • Exclusively use Quickbooks for Easy Integration and Security • LGBTQ friendly   For a limited time A Simple Office Solution is giving away a FREE Business Evaluation click to participate.

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Top Small Business Tax Deductions

1. Car and truck expenses Most small businesses use a vehicle, such as a car, light truck or van. Deduct the cost of operating the vehicle for business only if you require records to prove business usage. In deducting costs, you can eliminate the need to keep records of cost (e.g., gasoline, oil changes) if you rely on the IRS standard mileage rate of 58 cents per mile in 2019 instead of deducting your actual outlays. Use the standard mileage rate whether you own or lease the vehicle. But whether you deduct actual costs or use the standard mileage rate, you still need a record of the business mileage. 2. Salaries and wages Payments to employees, including salaries, wages, bonuses, commissions, and taxable fringe benefits, are deductible business expenses for the business. (For employee benefit programs, such as retirement plan contributions, see item #19.) Of course, payments to sole proprietors, partners, and LLC members are not wages (i.e., they are not deductible business...

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Are Your Books Tax Ready

We hope 2020 is treating you well. A new year brings new beginnings, but we all must deal with 2019 first. Are your books tax ready? Tax season is here and so are we! At A Simple Office Solution we can help get your books in order as well as help you file your taxes. We are a professional firm of Fractional Controllers and CPAs who can take care of all of your financial needs. With 13 years of experience and a diverse portfolio of happy clients we can assure you that your 2019 taxes will be in good, capable hands."Can't say enough good things about working with A Simple Office Solution. The A Simple office Solution Team. They were highly responsive (all days of the week and at all hours), worked hard to understand our needs and seem to genuinely care about getting things right. They asked great questions and were very organized with the process. They have been a huge help and we're lucky that we found them." -Gray "Great, personalized service at an affordable rate!" -Reed CLICK TO...

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3 Small Business Accounting Tips for the Holidays

Stay on Top of Your Cashflow No matter how slow things get for you, stay on top of your bookkeeping so you know your incomings and outgoings. Maintain a clear picture of the time and costs you have to bill and what work is coming down your pipeline. In other words, don’t get so wrapped up in the fun of spending that you ignore the truth about your cashflow. Financial hangovers are some of the worst. Keep Track of  Your Inventory Your ability to offer your customers what they want is one of the factors that will determine your business’s success during the holiday season. You should take a look at last year’s sales. This will give you an idea of what your customers want, so you will know what products to order. You should also keep track of this year’s sales. This will help you during next year’s holiday season. Review Your Terms and Payment Methods If you find things are especially tight, or your payment terms just aren’t working for you for whatever reason, it might be time to...

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What is an A Simple Office Solution Controller?

[ kuh n-troh-ler ] The most common are business controllers and corporate controllers, who handle entire accounting systems for their employers. For smaller companies, this means setting up the accounting infrastructure and performing the bookkeeping, whereas larger companies use controllers in an overseer role. A business controller is essentially a chief accounting officer for a firm. The controller is considered a member of the executive staff and typically plays a critical role in organizing and (for lack of a better term) controlling the accounting personnel in the company. A common yet under-appreciated role of the business controller is interpreting financial data. Controllers typically have a great deal of accounting and business forecasting experience, particularly as it pertains to tax management. A controller may also be called on to lend his or her expertise on investments, creditor relationships, corporate governance, or other areas. Often, the controller has one or two...

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Get Your Small Business Ready for Tax Season

GET YOUR SMALL BUSINESS READY FOR TAX SEASONUPDATE EMPLOYEE AND INDEPENDENT CONTRACTOR INFORMATION If your small business works with independent contractors, who are not employees or an incorporated business, you will need to submit a 1099 form. 1099s are used to report any payments of $600 or more. Contact independent contractors to make sure that you have the most up-to-date contact information. You may submit a W-9 form, if you don’t have one on file, to request information like the business tax identification number and contact information. Each employee should receive a W-2 form by  January 31. To make sure you have updated contact information, request all employees to provide their information well before the end of the year. MAXIMIZE YOUR END OF THE YEAR DEDUCTIONS As the end of the year approaches, take time to consider what steps you can take to minimize a large tax bill. PURCHASE NECESSARY EQUIPMENT Do you need new computer equipment or office furniture? The cost of new...

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A Simple Office Solution- Much More Than A Bookkeeper

Did you know that A Simple Office Solution offers SO much more than bookkeeping? Before you hire on an expensive full-time employee or contractor, keep in mind that not only are we a Fractional Controller/CFO firm, but we also prepare individual and business taxes as well! We have a team of highly skilled Controllers and CPA’s that want to be your one stop shop for all your accounting and financial needs. Here is a list of all of our offerings: Accounting: Bookkeeping/Ledger Entry/Reconciliation Accounts Payable Purchase Orders Accounts Receivable Invoicing Revenue Recognition Balance Sheet Reconciliation Human Resources Payroll Processing Employee On-boarding & Off-boarding Benefits set up and Management Contract review Insurance Management Historical Cleanup Audit Assistance Controller & CFO Services: Policy & Procedure implementation Optimize Systems for Scalable Growth Business Process Improvement Internal Control Reviews & Audit Finance Transformation Budget,...

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CEO Sharrin Fuller Interviewed By ADP

Simplifying Payroll and Workers’ Compensation Written by ADP: Read at ADP by clicking here A Simple Office Solution, a full-service accounting and financial services firm based in St. George, UT, concentrates on developing and maintaining strong client relations, while providing customized service plans based on the specific needs of each company. Partnering with ADP® for payroll and Automatic Data Processing Insurance Agency, Inc. (ADPIA), for workers’ compensation insurance has been beneficial for Sharrin Fuller, CEO of the company. She shares her thoughts and experiences partnering with ADP and ADPIA. Click To Download ADP Full Case Study  

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What Can You Expect From A Simple Office Solution?

COMPLETE TRANSPARENCYYour business will obtain full visibilaty to all reporting documents so that you are never left in the dark about what we are doing.TEAM DIVERSITYThe A Simple Office Solution Team possesses multi level qualifications. There is no task our staff can not handle. Our goal is to provide your business the recources that make your life easier.WIDE OPEN COMMUNICATION We are always available to discuss your needs. With team members in multiple time zones we will constantly have someone accessible to answer your questions.PERSONAL ATTENTION Our team offers a light hearted enjoyable approach when dealing with your business needs. Clients of A Simple Office Solution are treated less like customers and more like an extention of our team. 

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RECEIVE A FREE BUSINESS EVALUATION TODAY!

For A limited time only A Simple Office Solution™ is giving away a FREE BUSINESS EVALUATION by our expert team of financial professionals to 10 lucky business owners. Click below to fill out our simple form to apply. 

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