Tax Solutions and Business Tips 
for Transportation Professionals
  • The 2018 tax organizer will be released this month! Watch for an announcement when it is ready and you will find a copy the tax organizer at http://www.abacustrucking.com/forms/.
Tax Organizers
By: Dillon Davis

If you are currently enrolled in Abacus CPAs tax services, there is one item that we require before starting a tax return for any client. This item is called a tax organizer and it is a vital part of all the returns that we prepare. So, what is a tax organizer?

A tax organizer is a packet that is year specific and consists of three things: a tax return engagement letter, an audit protection engagement letter, and the organizer or tax questionnaire. We need the tax return engagement letter signed each year authorizing us to prepare a tax return for you. We offer year specific audit protection with each of our tax organizers. If you sign up for our audit protection service, and you are randomly chosen for an audit, we will help you with that process. The audit protection service is optional. It is not required to file your tax return. The annual tax organizer is how we ensure we have your most updated information. The tax organizer can be time-consuming; however, there are questions in it that can help to reduce your taxable income. The last page of the organizer is set up similarly to our monthly cash expense record. On this page, you can include any additional out of pocket business expenses that were not reported to us on the monthly cash expense records throughout the year. So how can you get ahold of this tax organizer?

The 2018 tax organizer will be updated and available in December 2018. You will receive communication via E-mail or Qualcomm message stating that you may contact us to get the organizer at your convenience. There will be a link to our transportation website included in the notice, where you can download tax organizers for current and past years. These can be downloaded to your smartphone, laptop, tablet, or PC as a fillable or printable PDF file for your convenience. You may also contact us to receive your organizer by E-mail, US mail, fax or come by and pick up a physical copy at one of our Springfield, MO offices. A second reminder will go out with the fourth quarter estimate result notifications to please contact us for a copy of the tax organizer when you are ready to start the process to file your tax return.

If you have any other questions regarding tax organizers, please call our office at 417-380-5000 or visit abacustrucking.com.

1099-MISC Information Forms
By: Sandy Dake

Please contact us immediately if you  would like assistance with the  preparation of 1099-MISC forms  for your business. 

If you paid a co-driver $600 or more, outside of W-2 earnings, you are REQUIRED to provide them with a 1099-Misc. The required tax documents need to be mailed to the IRS on, or before, January 31st and Abacus can help prepare them for you!  You will just need to provide us with each of the co-drivers addresses, social security numbers, and the amounts you paid each person.  

DUE DATE: 1099-MISC forms are due to the Recipient and the IRS on January 31, 201 9.
 
PENALTIES: There are penalties to file and failure to file correct and timely 1099-MISC forms.
 
NOTICES: Please contact us if you receive a notice from the IRS regarding 1099-MISC forms.

If you have any questions, please don't hesitate to reach out to us!
If you've filed an amended return and want to check on its status...look at the IRS website. The agency has a tool to make it easier for filers to find out about the status of amended individual returns filed on Form 1040-X. Go to www.irs.gov/filing/wheres-my-amended-return to access the system. You'll need to enter your Social Security number, date of birth and ZIP code.
  Abacus Access

Setting Up Your Account: You should have or will soon receive an email from Abacus CPAs with the subject: "Please register your Abacus Access account". The message will contain a link through which you can create a login and password for your Abacus Access account. If you have not received this email, please contact us. Also, check your spam or junk folders as the email may be there. In the email, click the Register link. Once you click Register, you will be redirected to the registration screen, where you will enter a login (username). Do not use your email address as a login. Enter and confirm your password. Click the Register button and you're done!

Accessing Your Portal: After registering your account, you can log in to Abacus Access from our website at www.abacuscpas.com . You'll see Abacus Access links at both the top and bottom of every page.

Downloading Documents: After you contact us to request documents, simply click on Client Flow on the far left toolbar. You will see a folder that has your name and your client number. Click on that folder and you will see your requested documents. You may also see a folder on the left toolbar with your name on it. There you will find current and previous year tax returns that we have prepared for you. Whenever your tax return is completed by us, it will appear in this folder. If you do not see Client Flow in the toolbar, please contact us.

Uploading Documents: When you need to send documents to Abacus, you will upload them through File Exchange. After logging into your Abacus Access portal, click on File Exchange on the far left toolbar. After clicking File Exchange, you should see a folder named "Upload your files here". Click on that folder. To upload a document or picture, click on the Upload icon on the toolbar at the top of the page. This will open up a box where you can either drag and drop your documents or click on Add Files to browse your computer for them. Once your documents are chosen, click Start Upload. You can close the box once your documents have been uploaded. If you see them in the "Upload your files here" folder, they were successfully uploaded and we will be able to access them. If you do not see the File Exchange folder in the toolbar, please contact us.

On the Road Recipes!
 
Crock Pot Healthy Taco Soup
 
Ingredients
 
1 can of pinto beans (16 ounces)
1 can of white beans or kidney beans (16 ounces)
1 can of corn (16 ounces)
1 can of Rotel tomatoes and chilies (11 ounces)
1 can diced tomatoes (28 ounces)
1 can diced green chilies (4 ounces)
1 packet of taco seasoning
1 packet of Hidden Valley original ranch dressing and seasoning
1 lb. of shredded chicken, ground beef, or any meat you choose
 
Instructions
  1. Place meat in crock pot and cook on high heat for 4 hours.
  2. Shred the meat if needed.
  3. Add all other ingredients to the crock pot (do not drain the cans).
  4. Cook on high for 2 hours or low for 4 hours.
  5. Turn crock pot to low until you are ready to serve.
  6. Garnish with sour cream, shredded cheese, chopped green onions, or tortilla chips.
  7. Enjoy!
    

Below are the clients with whom we are celebrating a big anniversary of working together!  We appreciate you and your continued trust in us!

Celebrating 5 years in December!
Clifton Cartledge
Joshua Belorit
Douglas Klumpp
Ricardo Machado
Kevin Moore
James Romanowski

Celebrating 10 years in December!
Jason Conway
Andre Greene
Johnny Jackson Jr.

Celebrating 15 years in December!
Anita Lambert