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***Everyone BUT Idaho Residents***

Tomorrow is the day! If you haven't filed your tax return or filed for extension yet, contact our offices we can help!

For all of my clients that are in this boat, don't worry, I've already filed your extensions!

So excited that Tax Season will be OVER.....welllllll for a second that is! October 15th is right around the corner!
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4 months ago

Leah's Accounting Solutions

It's vacation time for this crew! Our offices will be closed from today at noon, returning Monday July 6th. I hope you all have fun, happy and safe 4th of July celebrations! ...

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4 months ago

Leah's Accounting Solutions

In case you missed it....we are in the Guide to the St Joe Valley 2020!

I owe this all to my clients, thank you for support of this small business!

Also a HUGE thank you to Tammy Trayer with Trayer Designs! You are AMAZING! Every time I come up with a wild advertising or website idea you knock it out of the park! ❤️❤️❤️
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4 months ago

Leah's Accounting Solutions

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Please let me introduce you to our new part-time Summer intern!

Jacob Spence joined our company last Monday and will be working for our office through August when he returns to college. Here is some information he would like you to know about her:

"My name is Jacob Spence I graduated from St. Maries High School and am currently a sophomore at University of Idaho with a dual major in Accounting and Economics. I am also the current treasurer of the UI Economics club. I am looking forward to working for Leah this summer because I can use what I've learned throughout the year in the University of Idaho College of Business and Economics to help out wherever I can and learn new things that job experience can teach, like how an office functions."

Please help me give Jacob a warm welcome!
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Please let me introduce you to our new full time employee!

Wendy Baskin joined our company this Monday, and here is some information she would like you to know about her:

"Hi Everyone,
My name is Wendy Baskin and I am so excited to be a newbie here at Leah's Accounting Solutions. My family and I moved to St. Maries about 3 years ago and we are proud to call this our forever home. I have over 20 years of accounting experience while running a HVAC business as well as a home preschool/daycare. I look forward to being a part of Leah's growing business and serving our wonderful community with all their business needs."

Please help me give Wendy a warm welcome!
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*** Idaho Workers***

Just in, under the Idaho Rebounds: Our Path to Prosperity, the Idaho Workforce Development Council is working to finalize a "Return to Work Bonus" for all unemployed individuals that return to work! This will be a one-time cash bonus of $1,500 for full-time work and $750 for part-time work, and will be provided to the worker after returning to work.

Eligibility and how to apply are expected to be available on June 15th.
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***Idaho Residents***

The deadline for 2019 taxes is quickly approaching! In case you missed it, the State of Idaho was the ONLY state that extended tax deadline to June 15th instead of July 15th like the IRS. Why you may ask, they needed to make sure they could prepare the busget for next year!

If you haven’t filed yet, don’t worry there is still time! Call or make an appointment, we are happy to help! If you want to file an extension, our offices can do that as well!
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We are still accepting applications, if you have prior bookkeeping experience that is a plus! Looking to get a person hired and working by June 1st! The most important requirement is that you know your way around QuickBooks, all the other duties can be taught if you are willing to learn. 😬 ...

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Good morning on this beautiful Saturday morning! As I sit here on the couch sipping my coffee enjoying the sunrise through my living room windows I have made the decision that our office will reopen to the public on Monday.

Please be respectful, as my office will be open by appointment only. For those of you that I have been holding tax returns in my office, I will give you a call next week and we can schedule a time for you to pick them up.

I truly appreciate everything that my friends, family and clients have done to be supportive of our small business during these unprecedented times. Looking forward to the true end of tax season....it’s coming....I hope!
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6 months ago

Leah's Accounting Solutions

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6 months ago

Leah's Accounting Solutions

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We are excited to announce that our office has an opening for a Bookkeeper to join our company. Must be local and in St. Maries, ID

Responsibilities will include:

Documenting transaction details
Entering financial transactions in databases
Organizing financial reports
Fact-checking accounting
Balance accounts by reconciling entries.
Notifying senior staff of accounting errors
Processing a variety of Quarterly reports for multiple states, including Payroll and Sales Tax.
Processing payroll for client accounts
Assisting with preparation of income tax returns for individuals, corporations, partnerships, and fiduciaries.
Contributes to team effort by accomplishing related results as needed.

A successful candidate will possess the following skills and qualifications:

Attention to detail and accuracy
Able to multi-task, prioritize, work under pressure and meet deadlines
Ability to communicate complex data clearly
Excellent data entry skills
Great interpersonal and customer service skills
Familiarity with a wide range of financial transactions including Accounts Payable and Accounts Receivable
QuickBooks Desktop and QuickBooks Online is a MUST
Must be proficient with Microsoft Word, Excel, and Outlook

Must like dogs too! Potato and Chip are the office mascots and they come to work with us daily!

Wage DOE. Looking to have this person start no later than June 1st.

If you think you have what it takes, please email your cover sheet and resume to landerson@leahsaccountingsolutions.com with the subject "Bookkeeper Position - Your Name"
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Are you a small business that received a deposit from "ACH SBAD TREAS 310 MISC PAY" and wondering what this is for....if so read on.

This is your EIDL (Economic Injury Disaster Loan) advance. If your small business applied for the SBA EIDL loan from the recently passed CARES Act that is set to provide up to $10,000 to provide economic relief, then you may have received an advance of this loan in the bank account you used when submitting the application. This advance does NOT have to be repaid, however any loan following it does.

The advance can be anywhere from $1,000 to $10,000. Most small businesses will receive $1,000. If you received this advance, then the SBA has received your application.

There is no word yet on when the loans will be funded and processed, but you should receive an email from your funds provider on the terms, full loan amount, and instructions on repayment.
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Our offices are closed today.....even though our April 15th deadline has been moved to July 15th we decided to stay true to the way our company operates. Today is a date of rest, our way of saying “thank you to ourselves for the long days that you put in over the last 3 1/2 months”.

We will be intermittently in the office tomorrow, but will not be putting in a 12 hour day 😉.

Thank you for supporting this small business! ❤️💙💜💚
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*** Idaho State Interstate Truckers ***

Idaho-based interstate truckers with an IFTA license: If you’re required to file your 2020 first quarter International Fuel Tax Agreement (IFTA) return by April 30, 2020, you may report and pay by June 1, 2020. You won't owe interest to any jurisdiction or penalty if you report and pay by the extended due date.

A little slow to get this update out! It was announced on the 9th, so many updates to keep you all informed of! Happy Saturday!
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Wellllllllll shoot! Lost power....not sure when it will truly be restored, guess that means the office is closed for the weekend! ❤️ ...

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*** Economic Impact Payment (EIP) Returns ***

People who aren't typically required to file a tax return do not have to take any action to receive the Economic Impact payment, as they will be receiving the money either direct deposit, or by paper check (just as they would normally receive benefits).

If people on SSI, Railroad retirees and SSDI who have qualifying children need to get that information to the IRS to receive the additional $500 per qualifying child you will need to file an EIP Return.

Our office is now processing EIP returns, if you fall into this category, or know someone who does, have them contact our office, we would love to help!
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Good morning! I'm sure most of you know that help is out there....but where you may ask?

We have clients in multiple states, each state has updated their small business site to assist you in figuring out how to access and apply for the funding available through the COVID-19 Stimulus Package that was passed.

If you do a search for "Small Business STATE NAME COVID" in Google, you can find the state's small business website that will assist you and list all of the relevant links. Make sure you are accessing REAL SBA sites.....don't be fooled!

Our office has started to compile a listing of multiple state websites based on our client base, and would be happy to offer our assistance, Send a message or give us a call!
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***Unemployment for Self Employed***

The question is, is this true????? The answer is YES! For the first time Self-employed people that are not able to operate their businesses due to COVID-19 are eligible to file for State unemployment. I don’t know yet how the payments are being made, or if they are coming from the Federal package that was just passed or from the State, but I do know that some changes have been made on multiple state unemployment sites.

How you ask.....? I have been assisting multiple clients over the last few days maneuver through different state websites, as each website is different and each state is implementing this differently. What I can share with you is this:

1. Create an online account.
2. Most states are adding to their dashboard a spot to “Manage Work History” - this is where you will add your self-employed business.
3. Gather your tax returns, I would suggest going back at least 3 years if you can. You will be adding up your Gross Income, on line 7 of your Schedule C for all the years you have been self employed, and entering this information.
4. Pick the industry, most states have added a drop-down menu with the “non-essential” businesses listed, if your business industry isn’t there, pick the closest one.

After adding your work history you may need to log in and log back out for you to be able to then apply for unemployment, when going through all the questions make sure you select “YES” you were affected by the COVID-19, most State sites have added a question, and I believe it is being used to pull data. Note - most of the people I have assisted have been told they will need to look for work, at least 2 jobs a week while on unemployment, please check with your unemployment office, but I do believe this is their standard....not sure if it really applies, but check with your local office if you can get someone on the line.

Your claim will say “0” but this just means it is being processed.....just be patient everyone.....We will get through this.

UPDATED - IDAHO SELF-EMPLOYED - When you come to the question asking if you will be returning to work within 16 weeks, answer “YES”....by doing this you should eliminate the “requirement to search for 2 jobs”
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***Individual Income Tax Deadline***

Yes the IRS has automatically postponed filing AND payment deadlines from April 15, 2020 to July 15, 2020 for individuals, trusts, estates, or any type of unincorporated business entity. Interest and penalties will accrue after July 15th.

So this is "old news" right.....sort of....what does this mean for states? Well, State filing and payments vary by state.

We have clients in multiple states and have compiled the most up-to-date list that we can here:

Arizona - Tax Deadline: July 15, 2020
California - Tax Deadline: July 15, 2020
Idaho - Tax Deadline: June 15, 2020
North Dakota - Tax Deadline: July 15, 2020
Oregon - Tax Deadline: July 15, 2020
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Good morning, I hope everyone is staying safe during these uncertain times. For those of you that missed it on the news this morning.....our government has finally come to a decision on HOW they will help us, but they haven't said WHEN.

Announced this morning, the $2 Trillion in aid will include (Please note the full details have yet to be released, these are just the key points that have been):

Individuals/Workers would receive $1,200 per adult (each spouse if married) with incomes up to $75K, with married couples up to $150K

Families would receive an additional $500 per child

A Significant expansion of unemployment benefits extending the unemployment insurance by 13 weeks and including a 4 month enhancement of benefits, extending to self-employed workers

Stay safe, be smart, we will get through this.
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We would like to let everyone know that our offices will be closed to the public. What does this mean to you......

We are still working diligently to get taxes completed and filed so that if you are due a refund we can get you e-filed quickly and money directly deposited into your account.

We are still accepting NEW clients and EXISTING clients, if you haven't gotten your tax information in yet, do so!

Monthly Accounting, bookkeeping, payroll processing and other services will continue without any issues.

As many of you know, our offices are set up to work remotely as we have clients spanning across multiple states.

For our local clients, if you have paperwork to drop off, please put it in the mailbox outside our office on the porch and put the flag up to notify the staff there is mail in our box.

If you MUST come into our office, call and speak to someone in our office to make arrangements. As many of you know, we run our business out of a building next to Leah's personal home, and she doesn't want to bring anything back to her family.

Walk in faith, stay safe, and just know that we are all going to make it through this. Be the sunshine for people during these uncertain times.

Thank you for your understanding and continued support of our small business.
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***UPDATE***

For those of you worried about being able to pay taxes, the IRS has just announced they will allow a 90 day deferral on tax payments INTEREST FREE.....it hasn't been announced anything yet on the State of Idaho...but remember we are a conformist state, so most likely we will conform....stay tuned, more will be revealed.
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Took our office mascots, Potato and Chip down to the groomers today. Barks & Bubbles Groom Shop knocked it out of the park with these two! ❤️ ...

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***Tax Tip Tuesday***

The State of Idaho is considered a conformist state, and we conform to most of the Federal rules and regulations regarding the tax changes implemented by the IRS. The new changes implemented in the last two years have really affected Idaho tax payers, most have been slammed with extremely large state tax liabilities when filing taxes. Last year this was due to an issue where payroll programs were duplicating the standard deduction for married couples, so the State of Idaho developed their own Form IDW-4 breaking away from the Federal Form W-4 for the first time in history.....most of you may have noticed this didn't completely fix the issue, as many are filing their state of Idaho income tax returns for 2019 and owing taxes.

There are options - update your ID Form W-4, take the amount that you owe, divide it by the number of pay periods in the year, and write this amount as an additional payment to make. Have your tax preparer set you up for estimated quarterly payments....those are just a few. If you are interested in learning some more, give our offices a call, we are happy to go over other alternatives! Be prepared for 2020! Remember, the State's highest tax bracket is 6.925%, if you aren't paying in at least that of your AGI, you will owe.
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***Tax Tip Tuesday***

With the 2020 tax season in full swing, keep in mind, it's a great time to facilitate new changes to your record keeping if you don't have a adequate record keeping system in place. If you have operated a "shoe box" system for years, or kept receipts in this pile, or that pile, now would be a great time to consider implementing a better process.

Good recordkeeping throughout the year helps ensure that nothing gets overlooked come tax time! There is a period of limitation for refunds claims (Federal the later of 3 years or 2 years after the tax was paid. States vary by the laws regulated by each state)

Our office is happy to help with all of these services, not only can we file your taxes, but we can set up a monthly plan to keep your records accurate throughout the year.
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Just putting it out there.....I wear a large!!!! 🤣🤣🤣

Have a wonderful Sunday! We will be enjoying our day in the great outdoors!
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Big news in the tax world today.....it's official, the IRS is open for business! E-filing is now being processed for Individuals. The sooner you make your appointment the sooner we can get started working on your taxes and get your refund! ...

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For those of you anxiously waiting to file and get your refunds, the IRS is officially opening the 2020 filing season for Individual filers on January 27th 2020........if you have ALL of your information by then, give our office a call and schedule and appointment! ...

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*** Tax Tip Tuesday ***

Payroll Taxes are the first "tax season" we experience every year! Small business owners, make sure you are using the correct form to pay employment taxes. There is a difference between Form 944 and Form 941, and they are not interchangeable.

Our office is happy to assist you in any of your payroll or 1099 needs, give us a call, send a message or email for any questions you may have!
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Just and FYI for all my FB friends ...

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***Tuesday's Tip - not necessarily a Tax Tip, just a tip!***

For 2020, you should NEVER shorten 2020 to "20" on Legal Documents. Think about it, when writing the date 01/07/20 someone could change this to a future or past date to defraud you and it can easily become "01/07/2019" or "01/07/2021".

We have decided that for the ENTIRE year, we are going to be dating ALL documents with the FULL year....why....cause 2020 ROCKS!
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So.....I've been quiet for a little while...things have been busy around here, and they are about to get busier as tax season is upon us! YAY!

It has been brought to our attention that Tax Tip Tuesday has been missed!!!!!! Sooooooooo let me know if there are any questions you have, or things you may need tips on, as I am gearing up to get my Tax Tip Tuesday's rolling again!

Thank you all, and I look forward to a GREAT 2020!
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We are closed for the holidays. Merry Christmas and Happy New Year! Our offices will reopen on January 2nd. ...

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Our first parade appearance this year! We had such a great time participating in the annual Christmas in St Maries parade! Of course Potato stole the show! ...

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Our offices are closed today through Monday for the holiday....I hope everyone has a wonderful Thanksgiving weekend. Surround yourself with love, laughter and life. Happy Thanksgiving to all my friends, family and clients that have become both! Be safe in your travels! ...

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Why Work Wednesday when you can sit in front of Disney Plus all day and watch your favorite cartoons from the Disney Vault!!!!! Yep...I used to take Wednesday’s off as an “office day”....I think I am facilitating that rule today....office is closed! Up next, the Original Lion King! ...

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Why is it that all my brilliant ideas come at midnight or 1 in the morning and here I sit at my desk and I can't remember any of them! Happy Hump Day! Let's hope I remember what I'm supposed to be working on today! Year end tax planning, Quarterly reports still not completed, studying for my exam, writing a business plan??? Who knows....I will just roll with my day as it comes...

On that note, if anyone needs year end tax planning, budgeting or if you are wondering "can we buy that house in 2020", give me a call, make an appointment, let's take a look at your credit and make a plan. We offer more than just "Accounting" we offer Solutions!
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Apparently it’s National Boss’s Day! So Happy Boss Day to myself.....I give you a day off and a day of rest and recooperation! ❤️💚💜💞 ...

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Another successful “Second Tax Season” has come and gone, for those of you wondering....extensions were due yesterday. I am thankful that I love what I do, and grateful for the AMAZING clients I have! Thank you all for another great year!!!!! Today is a day of rest....I’m just crawling out of bed from the snuggles with my doggos....going to spend a day getting in some much needed “R’s”, relaxing, reading, and resting....tomorrow we start the process for next years tax planning cause it’s right around the corner!!!!! ❤️❤️❤️ ...

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Free Tax classes are being offered for small businesses by Idaho State Tax Commission....if you are interested in signing up, contact my office for more details!

Sept. 17th - Lewiston
Sept. 19th - Meridian
Oct. 8th - Boise
Oct. 16th - Coeur d'Alene
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No tax tips today....instead, we’d love to hear your feedback about your experience with our office and services! Please take the time to leave a review and let us know your thoughts! Thank you for being a customer! ...

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Our offices will be closed for the Fourth of July Holiday along with an extended vacation from July 2nd to July 8th. I hope you all have a safe and happy time celebrating! ...

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***Tax Tip Tuesday***

Be on the lookout for new versions of scams and people trying to get your personal information.

One involves Social Security numbers related to tax issues .The other threatens taxpayers with a tax bill from a fictional government agency.

Remember these key things when working with the IRS, most ALL correspondence will be in written form. They will NOT call you, unless you are working with a specific representative or have a case worker/auditor assigned to you and you are under an official audit. If you receive a phone call or email, ALWAYS be suspicious....if in looks questionable, it probably is.

Contact our offices, we are always happy to investigate further and reach out to the IRS for you.
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***Tax Tip Tuesday***

Just because we are sending our kids off to college, doesn't mean we don't get to claim them as dependents anymore! Remember there are some credits for students headed to college that will help come tax time!

Key things to remember are what are considered Qualified Education Expenses, these are amounts paid for tuition, fees and other related expenses for an eligible student.

There are different types of credits that can be claimed, education benefits, student loan interest deductions, scholarships and grants, qualified tuition programs, if you want to know more, call for an appointment!
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Wow, what a busy month this has been! I would like to thank all of my clients for being so understanding the last few weeks as I have been busy juggling work and family as I helped my youngest son begin a new chapter of his young life. He graduated high school on the 1st of the month and as of yesterday has officially moved out of the house and into his first duplex down in Lewiston where he will start college this fall. Next week, things will be “back to normal” for me...well sort of! I have another kid coming home for a visit from college, friends visiting from California and then peace once again after the 8th of July! In the meantime, Tax Tip Tuesday will return this week with some pointers for parents with kids heading off to college! Happy Sunday! ...

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***Tax Tip Tuesday***

Summer is just around the corner and that means jobs for teenagers!!!

Did you know that many kids ARE and SHOULD be paying taxes from their wages? Parents, make sure they are properly filling out Federal and State forms, you don't want to be surprised at the end of the year! Don't be fooled if you are told, "Your a teenager, your exempt".....that's not true.....there are a bunch of factors that determine who pays taxes.

If you need help, give me a call or send a message, I'm happy to assist you! Remember, Leah's Accounting Solutions isn't just open "during tax season" we offer solutions year round!
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***Tax Tip Tuesday***

What is Depreciation and Why should I care?

Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life and is used to account for declines in value.

What's a tangible asset - my best definition it's something you can touch!

Some of the changes to the rules around depreciation affecting many businesses under the new tax reform:

Taxpayers can immediately expense more
Maximum deduction increased from $500,000 to $1 million
Phase-out limit increased from $2 million to $2.5 million
Taxpayers may include improvements made to nonresidential property

Want to know more, or see how these changes can help you...call for an appointment....tax planning is a ALL year event, NOT just January to April!
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Happy Mother’s Day to all the mother’s out there! ...

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***Tax Tip Tuesday***

National Small Business Week runs from May 5th through May 11th. It is just as important for a small business to keep good records as a large multi-billion dollar corporation.

Why you may ask....Good records will help monitor progress of your business, prepare financial statements, identify areas of business that are profitable, keep track of expenses, prepare tax returns and develop and identify areas for growth and/or expansion.

If you get stuck, or need some suggestions, give me a call, I'm sure I can come up with a solution for your business! Remember, Leah's Accounting Solutions handles more than just Taxes!
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***Tax Tip Tuesday***

Most people these days are looking for new and exciting ways to make extra money, from renting rooms through Air bnb, renting personal RV's when not in use, part-time Uber drivers, to renting out spare rooms.

6 Things Taxpayers should know about how the the "sharing economy" might affect their taxes:

1. The activity is taxable.
2. Some expenses are deductible
3. There are special rules for rentals.
4. Participants may need to make estimated tax payments.
5. There are different ways to pay.
6. Taxpayers should check their withholding regularly.

Additional information is always available through the IRS website, or call to schedule a consultation, I'm always happy to help!
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My first day working in my new office....not fully unpacked yet, so I am not ready to share what the inside looks like....cause it’s still an organized mess of boxes! My goal is to have some pictures by this weekend....we shall see! Happy Monday! ...

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Picked up my new office sign today, local and hand made ❤️....moving day starts tomorrow! I am so excited! More will be revealed...... ...

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Happy Easter.....don’t forget the reason for the season, and always hold onto the hope, from the hope comes faith....from faith comes love....from love we find joy in the world we get to live in. ...

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With that, another season in the books, in the same fashion I was taught....office closed by 12:30....all extensions filed, all returns submitted! Love this time of the year! Thank you everyone for your support and referrals! I get to spend the rest of the day hanging out with an injured kid on the couch, nothing like cartoons and candy to heal fractured fingers! Boys will be boys! ...

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I have a sign in my office that reads, " Do what you LOVE, LOVE what you DO!" Everyday! I'm a blessed girl.....12 days....broken into hours....technically speaking I have 278 more hours....that's PLENTY of time....it's not last minute till we are down to the wire!12 days to go....what do you do when your phones are ringing off the hook....keep your office headset on one side, cell phone on the other and full speed ahead! If you haven’t made an appointment yet, I still have openings...extensions aren’t a bad thing.....just say!!!!! ...

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2 years ago

Leah's Accounting Solutions

12 days to go....what do you do when your phones are ringing off the hook....keep your office headset on one side, cell phone on the other and full speed ahead! If you haven’t made an appointment yet, I still have openings...extensions aren’t a bad thing.....just say!!!!! ...

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2 years ago

Leah's Accounting Solutions

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The Idaho State Tax Commission might ask you for more information after you file your state income taxes.

Specifically, the Tax Commission might send a letter asking you to provide missing or extra information that supports your tax return.

Don’t panic! All income tax returns go through fraud detection reviews and accuracy checks before any refunds are issued. If you receive a letter, take the requested action right away. Once you provide the needed information, processing of your refund will continue.

Or give me a call and I can help you out!
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Tomorrow is the day I start painting the new office....if anyone local would like to come help, feel free to come by! I am thinking I will get the rollers out about 3ish! ...

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Tax season is in full swing, call for an appointment! Happy to answer any questions you may have! If you haven’t filed in a few years, we’ve got you covered there as well! Thank you all for the continued support! This really is my favorite time of the year! ❤️ ...

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This week has been a busy one, with the Corporate deadline tomorrow I have all my extensions filed for the returns I didn’t wrap up in time....Not planning on spending the day in my office tomorrow, instead it sounds like a good day to start prepping my NEW office.....if anyone local wants to come offer a helping hand I would welcome any help I can get! I will be taking down some pictures, filling holes, and taking down the cupboards doing all the prep work, we will begin painting on the 20th! Super excited....if all goes well I will be moving into my new office by the beginning of April! ...

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The first deadline is quickly approaching.....for all those with a March 15th filing deadline, if you haven’t been able to get your information in yet, call for an appointment! Don’t have all your books I order, call and I can file for an extension. ...

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2 years ago

Leah's Accounting Solutions

Such an honor! Don't mind the tear in the paper, I got a little excited and ripped it! Who's Business of the Month for March???? Leah's Accounting Solutions! ...

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2 years ago

Leah's Accounting Solutions

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Thank you everyone for your support. I am very excited to chase my dreams. Stay tuned.....more will be revealed. ...

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2 years ago

Leah's Accounting Solutions

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2 years ago

Leah's Accounting Solutions

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2 years ago

Leah's Accounting Solutions

Leah's Accounting Solutions ...

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2 years ago

Leah's Accounting Solutions

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2 years ago

Leah's Accounting Solutions

Leah's Accounting Solutions ...

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