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Sammie Binning, CPA, has written the following article for the Greater Concord Chamber of Commerce, Chamber Review Newsletter.

Planning ahead for tax cuts and job act expirations

Rebecca Acorn, CPA, MST  • 

Form 720 is used to report various excises taxes owed to the federal government on a quarterly basis. So why write about it now, has there been a change to the Environmental, communication or fuel taxes? No, it is Part II - Patient Centered Outcomes Research Fee (PCOR) that warrants this article. 

Gentle Readers,
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This is likely my shortest missive of all time. Don’t dismay: if I survive the April tax deadline (and I always do), I’ll be back with long and windy articles with breathtaking insights and commentary. However, today my message is short and sweet.

You must return the signed Form 8879 before your tax preparer can file your return!! 
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Mallory Vincent, CPA •

With the possibilities of compiled, reviewed, and audited financial statements, it can be difficult to determine the level of CPA audit and assurance services that are the best fit for your Organization and your role in the process. External financial statements could be mandatory due to a state, bank, and/or funding source requirement. For example, the state of New Hampshire sets audit requirements for Non-Profit Organizations (NPOs) – the audit threshold for NH Charitable Organizations (effective August 6, 2022) is gross annual revenues of $2 million or higher. Just over the border in Massachusetts, NPOs with gross revenues of $500,000 or more are required to have an audit.  Additional requirements may be applicable depending on the type of industry in which your Organization operates, its location, and its specific activities. 
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Alyssa Hodges, CPA •
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After your business taxes are done and any adjusting journal entries have been provided by your accountant, a best-practice is to officially close the books. QuickBooks makes this easy by having a closing date feature which can either warn you or require a password before prior-year data is changed.

To enable a closing date:
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