February 2021 Tax & Accounting Insight

Message from President Josh Shilts

When we asked ourselves “How can we collaborate better with you in an one-of-kind experience?” we decided to get to work on just that! In a age when more and more business is done virtually, we took your comments on the current client portal to heart and worked with our software company OfficeTools to make your suggestions a reality.

Now, we’re excited to announce the all-new OfficeTools Client Portal! Some of the benefits of your new client portal include:

• Mobile collaboration – We hope you will appreciate the improved mobile-friendly experience and the ability to access documents from any device.
• Safe and secure – Increased protection for your documents—We’ve taken our security to the next level with enhanced encryption so your documents are more secure during transit and at rest. Multifactor authentication now available!
• Get more done – The new portal will allow you to upload your documents, select a category type and the document will automatically be added to the your records in our OfficeTools software.
• Payment made easier – Sharing & Payment (Credit Card & ACH) of Invoices now supported directly from your portal.
• Share your documents – The new portal also allows multiple users access to one or more portal accounts.
• Documents Available 24/7 – Perpetual document retention and unlimited document storage now included with your portal account.

Please note that your old OfficeTools Client Portal will be inaccessible starting Friday, February 12th as we rollout the new portal. After your new portal is ready, you will receive an email to register you account. Please make sure to sign asap up to take advantage of all the benefits the new portal has to offer!

We hope that you will find your new client portal to be the best extension of our service, offering us a more collaborative experience!

Josh Shilts, CPA/ABV/CFF/CGMA, CFE

Featured Articles

• Employer Tax Credit Extended for Payroll Workers – The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted December 27, 2020, made several changes to employee…
• Tax Filing Season Starts February 12 – Although tax season usually starts in late January, this year, the tax filing season is delayed until February 12, 2021 ….
• What’s New for 2020 Tax Returns – As always, taxpayers should be aware of several key items involving credits, deductions, and refunds when filing their…
• Social Security Benefits and Taxes: The Facts – Social Security benefits include monthly retirement, survivor, and disability benefits; they do not include Supplemental Security Income…
• Taxable vs. Nontaxable Income – Are you wondering if there’s a hard and fast rule about what income is taxable and what income is not taxable? The…
• Why Should I Keep Records? – Everyone in business must keep records. Keeping good records is very important to your business. Good records will help you do the following…

Quickbooks Tips

• Should you charge late fees? QuickBooks can help.

Other Articles of Interest

• Do You Need To File a 2020 Tax Return?
• Relief for Taxpayers Struggling With Tax Debts
• Five Tax Tips for Older Americans
• New Year, New Withholding?
• Who Qualifies for the Earned Income Credit

BVR Monthly U.S. Economy Update

Please enjoy the BVR December 2020 issue of the Economic Outlook Update (EOU), the most defensible U.S. economic data available.

Tax Due Dates

Missing tax deadlines can result in heavy penalties. Click here to view all tax due dates and ensure you are to-date on what is due this month.

Shilts Speaks

Our President, Josh Shilts, is passionate about sharing his expertise. We would like to encourage you to join us at his next event.  Click here to view all events.

Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.