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News/Events for December 2009


Tax News - February 1st 2010 Issue: 1
   
Welcome to Accelero Corporation  

Accelero proudly specializes into start ups accounting, finance, management strategic decision making and taxation areas. Our services range from basic bookeeping to complex decision making such as international transfer pricing, revenue recognition, IFRS compliances and more.

We also offer three different levels of packaged services for start ups - Early stage, Expansion stage and Exit stage. Our customers are from various industries such as software, semiconductor, bio tech, finance and other areas with whom we have been partnering successfully.

For more details about our company , visit www.accelero-corp.com.

Read below for some of the accounting and tax guidelines for 2009.

 
Tax deadlines for the month of Feb and march   2010!
February 1, 2010 - W2s and 1099 Forms- TODAY!!!

Deadline for employers to mail out Form W-2 and for businesses to furnish Form 1099 statements reporting, among other things, non-employee compensation, bank interest, dividends, and distributions from a retirement plan. Deadline for self-employed individuals to file and to pay their tax and avoid a penalty for not making your 4th quarter estimated tax payment.


February 16, 2010 - Revised form W-4
Deadline for employees who claim exemption from withholding to file a new Form W-4 with their employers.


February 28, 2010 - 1096 Form to IRS
Deadline for employers to submit 1096 forms to IRS.


March 16, 2010 - Corporate Tax Returns for FYE Dec 31 or request for 6 month extension
Deadline for corporate tax returns (Forms 1120, 1120A, and 1120S), or to request automatic 6-month extension of time to file (Form 7004).

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Not an Accountant!

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File California Statement of Information in time to avoid $250.00 in penalties

Every domestic corporation shall file a Statement of Information with the Secretary of State, within 90 days after filing of its original Articles of Incorporation, and annually thereafter during the applicable filing period.


The applicable filing period for a domestic stock corporation is the end of the calendar month during which its original Articles of Incorporation were filed and the immediately preceding five calendar months. A corporation is required to file a statement even though it may not be actively engaged in business at the time this statement is due.


In event of changes such as address, officers, directors, agent for service or type of business a State of California Statement of Information must be filed regardless of whether the form is due.

The statement can be filed online
https://businessfilings.sos.ca.gov/


The fee for filing the initial or annual Statement of Information is $20.00. In addition, all domestic stock corporations must pay a $5.00 disclosure fee at the time of filing the initial or annual statement, for a total of $25.00. Failure to file the required Statement of Information and the Corporate Disclosure Statement, if required, by the due date will result in the assessment of a penalty. The penalty for domestic stock corporations is $250.


A California LLC must re-file (update) its Statement of Information biennially or whenever there is a change. Certain Foreign Corporations are also required to file.

 
   
California EMPLOYER - REQUIRED EITC   NOTIFICATION
DEADLINE THIS WEEK!

Employers are required to notify their employees about the availability of the EITC. Written notification must be provided to employees in person or by mail. Notification must be provided within one week before or after, or at the same time, that you provide an annual wage summary, including Form W-2 of Form 1099.

For more information about this requirement ,visit: www.edd.ca.gov/Payroll_Taxes/
Earned_Income_Tax_Credit_ Notification.html


For assistance on any of the above
  requirements, please contact us.