HAPPY NEW YEAR!!!

Now that January 1st has come and gone, we need to get busy with year end tasks such as W-2's and 1099's.  As with every year, we have already heard of software glitches related to the performance of these tasks.  One of the most common mistakes made this time of year is to trust your software to print W-2's and 1099's without double checking the numbers.  One of the glitches already reported for this year is that the 1099's for Geac Starbuilder may not pull the correct 2003 totals for vendors. 

Follow the steps outlined to make sure your tax filings are accurate:

The most important step in the whole process is to BACKUP early and often.  Errors happen, buttons are pressed accidentally, and the backup is your safeguard to be able to try again.

W-2 Forms: Check against the final pay stubs to confirm they are pulling the proper year of information and then follow the checklist in our year end letter.

1099 Forms: Print a check register for the year for vendors requiring a 1099 to compare totals and confirm the software has the correct totals.  Also, determine which vendors need a 1099 outside of the software's 1099 program.  One client noted that her analysis showed 4 vendors required a 1099 but the program was set to print over 20! 

Let's start the year right by taking our time with preparing these forms and checking them carefully so we don't have to issue corrected ones later.  If you would like our assistance with preparing or checking your Forms, please call Gary Fortier at 770-671-1533.

Sincerely,

Large & Gilbert, P.C.

L&G Mission Statement: To help our clients and our staff achieve financial success and retire comfortably.