It’s been a scorcher here in Austin and we are ready to say so long to summer! We hope you made it through the heat and I know everyone’s looking forward to cooler weather this fall.

Client Highlight…

We’re kicking off our fall newsletter by celebrating The Davies Collaborative‘s 10 year anniversary! Our wonderful client is an award-winning architecture firm that has grown steadily over the last ten years with their multi-family, mixed use, and residential projects. We are thrilled and honored to support their business operations and wish them many blessings and continued success! 

Make space to focus on your business…

Do you need support creating a budget? Do you need to let go of transactional work that isn’t helping you grow your business? 

Here is a personal letting go story here at DMR Accounting: 

My inbox had over 200,000 emails – I dreaded checking my email – everyday. In the last few months, I finally accepted support with managing my emails and am now down to under 100 emails in my inbox. 

Accepting help took a tremendous weight off of my shoulders and allows me to focus on the most important messages. 

I highly recommend not waiting until you are overwhelmed and under pressure to accept help. 

As a reminder, our team is available to help enter transactions, reconcile accounts, or help prepare budgets. Please talk to your primary bookkeeper about how they may be able to take administrative tasks off your hands so you can focus on YOUR business instead of working IN your business. As owner/CEO, your best work is done at the strategic, big picture level, and not with the nitty-gritty details (our team’s specialty).

Additionally, here is a great article with strategies for balancing work and family. I’m a firm believer in the third suggestion…Live by your calendar. It takes time to slow down and plan, but life certainly runs much more smoothly when you are organized and have a plan! 

Tax Deadlines…

For your convenience, here is a list of the upcoming deadlines:

Schedule with me to prepare for year-end…

I would like to meet with all clients before the end of the year for tax estimate purposes. Click here to schedule a meeting with me. If you are a YES! client, this meeting is included in your program and it’s very important even if you haven’t attended your previous monthly meetings.  Please do not wait until November/December to schedule, because my calendar will fill up as the holiday season starts.

Our team is here for you!

Please reach out to your DMR bookkeeper if you have any questions about the above-mentioned deadlines.

Thank you for choosing DMR Accounting & Consulting!

We’d love to highlight your business via our DMR Facebook page as well in our newsletters. Please contact Carrie Jareed, our Virtual Client Services Coordinator at csc@dmraccounting.com, or reach out to us via DMR Client Solutions.

Bluebonnets are in bloom and it’s the perfect time to enjoy spring in Texas! If you’re looking for that perfect picture spot here’s a list of great locations in the Austin area.

Announcing…

We’re excited to introduce you to our newest team member, Daniela Krebs-Benner. Daniela joined us last fall and has been training with our Accounting and Bookkeeping Services Team on all DMR procedures. She will complete her Associate Degree in Accounting and Full Charge Bookkeeping in May of 2024. 

Daniela is a native of Germany and her prior experience in hotel management and many years in the German Army make her a great addition to our team. We are thrilled to be working with her!

Client Highlight…

Need a great neighborhood spot for a work meeting? 

Are you looking to unwind at the end of a busy week? 

CoffeeShark is the perfect destination for you! Located at the base of Jester Hill in Northwest Austin, they offer craft coffee and beer, as well as wine and food in a convenient setting. They have Friday night beer and food specials as well as Trivia Night every Saturday at 7pm.

Tax Deadlines…

For your convenience, here is a list of the upcoming deadlines:

2022 Estimated Tax Payments Due Dates

Form 1040-ES, Estimated Tax for Individuals

Texas Franchise Tax Returns

Annual franchise tax reports are due Monday, May 15, 2023. When tax due dates fall on a weekend or holiday, the due date will be the next business day. There are distinctions between Non-EFT and EFT Franchise Taxpayers. You can see more information on the Texas Comptroller tax page.

IMPORTANT NOTE:  Be sure to file this report on time even if you are only required to file a NO TAX DUE Report.  

Otherwise, the state will fine you with a $50 penalty!

Need a unique self-care experience?

Consider a HorseLink HorsePower Workshop on building emotional resilience. Horselink is a local non-profit that envisions a world that appreciates and benefits from the horse~human relationship. They are offering a workshop on April 1st. No riding is involved and no horse experience is necessary. 

Deidra had a wonderful time at one of their workshops earlier this year!

Our team is here for you!

Please reach out to your DMR bookkeeper if you have any questions about the above-mentioned deadlines.

Be sure to schedule a meeting with Deidra. Her calendar fills quickly. Booking in advance is the best way to ensure a meeting with her.

Thank you for choosing DMR Accounting & Consulting!

We’d love to highlight your business via our DMR Facebook page as well in our newsletters. Please contact Carrie Jareed, our Virtual Client Services Coordinator at csc@dmraccounting.com, or reach out to us via DMR Client Solutions.

DMR Accounting & Consulting – Our Purpose and Values

Our company-wide initiative of cross-training ensures that you always have seamless service. This training takes place at no charge to our clients. This is another way we go Above and Beyond for you.

Your referrals are always appreciated! Please share this newsletter if you know a small business in need of assistance.

We hope you are looking forward to a productive and prosperous 2023! We look forward to supporting your business needs this year!

Shout out…

Valentine’s Day is just around the corner. If you are looking for unique gifts, check out a couple of our valued clients whose products may inspire you.

The Gardner’s Wife is a curated collection of small batch, hand made goods for home and life, and specializes in dried floral arrangements, self-care products, with a sprinkling of home and lifestyle goods.

Caleesi Designs Jewelers creates original and custom jewelry designs, and offers excellent suggestions without pressuring or intimidating. Their mission is to give customers the best experience possible while staying true to the laid back, casual vibes of their South Austin neighborhood.

Important Tax Deadlines…

The beginning of the year brings tax deadlines along with it. See the table below for a list of important deadlines this year.  

For calendar year tax returns reporting 2022 information that are due in 2023, the following due dates will apply.

Estimated Tax Payments

Form 1040-ES, Estimated Tax for Individuals

Texas Franchise Tax

Annual franchise tax reports are due Monday, May 15, 2023. When tax due dates fall on a weekend or holiday, the due date will be the next business day. There are distinctions between Non-EFT and EFT Franchise Taxpayers. You can see more information on the Texas Comptroller tax page.

You can also see this article from Intuit with deadlines and detailed guidance for each one. The primary resource for each taxpayer is the IRS Publication 509.

Important Tax Preparation News…

UPDATE on Form 1099-K:

The IRS has postponed the lower reporting threshold of $600 for Form 1099-K. Please see this article from the Journal of Accountancy for details.

The IRS has prepared guidance to help you get ready to file your 2022 federal income tax return. It includes information on what’s new and what to consider when you file. Take small steps to get organized now in order to file your return on time and with less stress.

Standard Mileage Rate Increase…

The IRS increased the standard mileage rate to 65.5 cents per mile for 2023. You can read the details here.

Ease into 2023… 

Even though we’ve mentioned the unavoidable tax deadlines above, we want to remind you that self-care is still a priority. Renee Trudeau, life-balance and self-care expert, offers us these three questions. It’s still a good time to reflect on last year and determine what matters most for this one.

If life has been feeling a little overwhelming, consider a Horselink HorsePower Workshop on building emotional resilience. Horselink is a local non-profit that envisions a world that appreciates and benefits from the horse~human relationship. They are offering workshops in March and April designed to be fun and empowering. No riding is involved and no horse experience is necessary.

Our team is here to help you stay on track.

Please reach out to your DMR team member if you have any questions about any of the above mentioned tax deadlines. It’s our mission to provide clear direction and steady support as we help you close your books for the last fiscal year.

Be sure to schedule a meeting with Deidra. And kudos to those of you who already scheduled with her!

We wish you a happy, healthy, and prosperous year! 

Thank you for choosing DMR Accounting & Consulting!

It’s hard to believe we’re already half way through November and that Thanksgiving is next week! 

We want to convey our continued gratitude for the opportunity to offer clear direction and steady support to your unique business. We appreciate you, and it is our most sincere hope that you feel confident with your finances as 2022 comes to a close.

Shout out…

Want to support a great cause and serve a fantastic pie for your Thanksgiving gathering?

Order a pie (or two) from Loving Libbie’s pop-up shop. Loving Libbie Memorial Foundation provides Central Texas children with comfort foods while they undergo treatment for cancer and other life-threatening illnesses. The sale of these pies goes directly to fund the Loving Libbie Comfort Through Food program. You can read more about it here.

Important Tax Preparation News…

Requesting IRS Form W-9s is an important part of the contractor/vendor relationship. Ideally, these are collected before any payments are made.  We have a brief explanation of W-9s and why they’re important here. 

Preparation of 1099 forms will be a top priority when starting out the new year. If you have questions about the various 1099 forms, this article from Intuit’s TurboTax blog that offers an excellent overview. 

We mentioned this in our last newsletter, but feel it’s worth repeating.

There are updated requirements for IRS Form 1099-K. The minimum reporting thresholds have decreased to $600 for the tax year 2022. Small business owners and the self-employed who accept credit cards and electronic payments are more likely to receive a 1099-K from payment processing companies.  Here is an article with important details about Form 1099-K. 

And ICYMI…

We shared this on our Facebook Page, but in case you missed it…

Effective July 1st the IRS increased the standard mileage rate to 62.5 cents per mile for the rest of 2022. You can read the details here.

Holiday Preparation…

With the holidays just around the corner, many small businesses are looking for new ideas for holiday gatherings. For some suggestions on how to switch things up and keep the festivities within budget this year, check this out!

The holidays can be full of joy and excitement, but they can also lead to high expectations and stress. Some ideas to implement self-care and manage stress during the holiday season can be found here. 

Our team is here to help you wrap up 2022.

Please reach out to your DMR team member if you have any questions about the above-mentioned articles or tax forms. We want you to have financial peace of mind by ensuring that you have everything organized for year-end. 

Click here if you need to schedule a meeting with Deidra. Her calendar is pretty full, but that’s because so many of you have already scheduled with her!! Yay!

Reminder – The DMR Team offices will be closed Thursday and Friday, November 24th & 25th, as well as from Saturday, December 24th through Monday, January 2nd.  

We wish you, your family, and friends a happy and healthy holiday season! 

Thank you, again, for choosing DMR Accounting & Consulting and Happy Thanksgiving!

Fall is just around the corner with cooler temps, football games, and enjoying the outdoors again.

Shout out…

We’re kicking off our fall newsletter with a shout-out to one of our client’s non-profit organizations, HorseLink. As a lifelong horse owner, Julie Puentes has long believed in the possibility of horses helping heal human trauma. You can read the story of how HorseLink is fulfilling its vision of A world that appreciates and benefits from the horse~human relationship. 

Love horses?   Here are some ways to get involved and volunteer.

Curious about the mission of HorseLink?  Join me at the upcoming class – Horse Power: Emotional Resilance on October 8th!  Note: no horse experience is necessary.  I would love to see you there!

Love a great party for a good cause?   Check out Pony Up for HorseLink! Registration and tickets for the November 6th event are available here.

Important Tax Preparation News…

Did you know there are updated requirements for IRS Form 1099-K? The minimum reporting thresholds have decreased to $600 for the tax year 2022. Small business owners and the self-employed who accept credit cards and electronic payments are more likely to receive a 1099-K from payment processing companies. Here is an article with important details about Form 1099-K. Please reach out to your DMR bookkeeper with questions about this form.

ICYMI…

We shared this on our Facebook Page, but in case you missed it…Effective July 1st the IRS increased the standard mileage rate to 62.5 cents per mile for the rest of 2022. You can read the details here.

Cybersecurity and Tax Scams…

We believe that you can’t be too careful when it comes to protecting your business (or personal) data. Small businesses are particularly vulnerable to cyber threats. Here’s an article from the U.S. Small Business Administration on strengthening your cybersecurity.

Every year the IRS publishes their Dirty Dozen – the worst tax scams of the year. This collection of short articles is worth the read to stay aware and ahead of the game.

Our team is here to help you prepare for year-end.  Please reach out to your DMR team member if you have any questions.  

Also, you can click here to schedule a meeting with Deidra. Her calendar fills up quickly so be sure to sign up early for your end-of-year meeting.

We’d love to  highlight your business via our DMR Facebook page, as well as in our newsletters. Please contact Carrie Jareed, our Virtual Client Services Coordinator at csc@dmraccounting.com, or reach out to us via DMR Client Solutions.

Help us support you and connect with us on Facebook! 

We are looking forward to meeting your business needs this fall and helping you close 2022 with grace and ease.

Thank you for choosing DMR Accounting & Consulting!

P.S. We’re hiring!  We have openings for a couple of part-time Entry-Level Bookkeeper/Administrative Assistants. If you know anyone who would make a great addition to our team (like a student or stay-at-home mom), please share this newsletter and have them apply here. 

DMR Accounting & Consulting – Our Purpose and Values

Our company-wide initiative of cross-training ensures that you always have seamless service. This training takes place at no charge to our clients and is another way we go Above and Beyond for you. 

You and your referrals are always appreciated! 

Spring is here and we’re looking forward to enjoying the outdoors with with longer days and warmer weather!  For more health and happiness, here’s a quick read on how to incorporate the outdoors into a busy workday.

Announcing…

Our DMR team has a new member and we are excited to introduce Elsie Meyer to you! 

Elsie joined us last fall and has been training with our Accounting and Bookkeeping Services Team on our time tested DMR procedures. She will complete her Associate Degree in Accounting and Full Charge Bookkeeping from Austin Community College this July. 

Elsie’s prior experiences in bookkeeping, project management, and data analysis make her a great addition to our Accounting and Bookkeeping Services team.  We are thrilled to be working with Elsie!

For all of our current and future accounting and bookkeeping services clients, it is important that you to know about our company-wide cross-training initiative.  This training takes place at no charge to our clients which is a win-win for both for the professional development of each DMR team member, and most importantly, for each of our client organizations.  

Teamwork makes the Dream Work!  After all the uncertainty we have collectively experienced in the last few years, we are proud to provide you with a highly qualified and experienced team that work together harmoniously and seamlessly to make your life easier.   

Continual cross-training is another way we go Above and Beyond for you.

Did you know…?

Texas has an Unclaimed Property Day. Read more about it here and feel free to ask your DMR bookkeeper if you have questions or would like assistance in the future.

Tax Deadlines…

For your convenience, here is a list of the upcoming deadlines:

Individual Federal Tax Returns (IRS Form 1040)

These are due by Friday, April 15, 2022. For an automatic extension, file Form 4868, and deposit estimated tax by the same date. The extension is only for filing the return. You must submit an estimated payment amount by April 15, 2022, if you expect to owe additional income tax.  

2022 Estimated Tax Payment Due Dates

Form 1040-ES, Estimated Tax for Individuals

C-Corporation returns (IRS Form 1120)

These are due Friday, April 15, 2022. The extended deadline is October 15, 2022. If an entity operates on a fiscal year rather than a calendar year, the return is due on the 15th day of the fourth month following the end of the fiscal year.  

Form 1120, U.S. Corporation Income Tax Return

Texas Franchise Tax

Annual Texas franchise tax reports are due Monday, May 16, 2022. When tax due dates fall on a weekend or holiday, the due date will be the next business day. There are distinctions between Non-EFT and EFT Franchise Taxpayers. You can see more information on the Texas Comptroller tax page.

IMPORTANT NOTE:  Be sure to file this report on time even if you are only required to file a NO TAX DUE Report.  

Otherwise, the state will fine you with a $50 penalty and no one ever wants to pay extra taxes, especially for missing a silly deadline!

Non-profit Organization Tax Returns (IRS Form 990)

Tax-exempt organizations need to file their return by Monday, May 16, 2022. The extended deadline is November 15, 2022. 

Our team is here to help you through this spring season (and all seasons year-round) so that you can rest and enjoy life knowing that your finances are solid and reliable.

Please reach out to your current DMR bookkeeper if you have any questions. 

We encourage you to contact Carrie Jareed, our Virtual Client Services Coordinator at csc@dmraccounting.com, or reach out to us via our DMR Client Online Solutions Box anytime.  Your feedback is welcome!

We know you have choices when it comes to meeting your business and accounting needs.

Thank you for choosing DMR Accounting & Consulting!

DMR Accounting & Consulting – Our Purpose and Values

Connect with us on Facebook!

We hope you are looking forward to what this new year will bring, we are! 

Did you know that the standard mileage rates have increased for 2022? 

You can read more about the details in this article from the Journal of Accountancy.

Tax Deadlines…

For your convenience, here is a list of the upcoming deadlines:

Employers or Institutions (IRS Form W-2 and Form 1099)

These must be sent to employees or independent contractors by Monday, January 31, 2022, to avoid penalties.

Last year the IRS released a new Form 1099-NEC for nonemployee compensation.  Form 1099-NEC replaces Form 1099-MISC for nonemployee compensation only. If you haven’t already, please let us know as soon as possible if you would like our assistance with the mapping setup required in your accounting software to be compliant with this new form.  Form 1099-NEC is due Monday, January 31, 2022, the same as Form 1099-MISC.

Individuals (IRS Form 1040)

These are due by Friday, April 15, 2022. For an automatic extension, file Form 4868, and deposit estimated tax by the same date. The extension is only for filing the return. You must submit an estimated payment amount by April 15, 2022, if you expect to owe additional income tax.  

Estimated Tax Payments

Form 1040-ES, Estimated Tax for Individuals

Partnership returns (IRS Form 1065) 

These are due Tuesday, March 15, 2022. The extended deadline is September 15, 2022. 

Form 1065, U.S. Return of Partnership Income

S-Corporation returns (IRS Form 1120-S)

These are due Tuesday, March 15, 2022. The extended deadline is September 15, 2022. If an entity operates on a fiscal year rather than a calendar year, the return is due on the 15th day of the fourth month following the end of the fiscal year. 

Form 1120-S, U.S. Income Tax Return for an S Corporation

C-Corporation returns (IRS Form 1120)

These are due Friday, April 15, 2022. The extended deadline is 

October 15, 2022. If an entity operates on a fiscal year rather than a calendar year, the return is due on the 15th day of the fourth month following the end of the fiscal year.  

Form 1120, U.S. Corporation Income Tax Return

Texas Franchise Tax

Annual Texas franchise tax reports are due Monday, May 16, 2022. When tax due dates fall on a weekend or holiday, the due date will be the next business day. There are distinctions between Non-EFT and EFT Franchise Taxpayers. You can see more information on the Texas Comptroller tax page.

Our team is here to help you have a great start in 2022. 

Please reach out to your current DMR bookkeeper if you have any questions about the above deadlines. 

 You are also welcome to contact Carrie Jareed, our Virtual Client Services Coordinator at csc@dmraccounting.com, or reach out to us via our DMR Client Online Solutions Box.

Thank you for choosing DMR Accounting & Consulting!

DMR Accounting & Consulting – Our Purpose and Values

Connect with us on Facebook!

We are thankful for you!  We hope you are having a wonderful fall and are looking forward to the Thanksgiving holiday.

Below are some reminders and tips plus heartwarming and yummy client highlights.

Tax Planning with Deidra – Sign up now!

Please sign up now if you would like Deidra to join a tax planning meeting with your tax accountant before year-end.  Spots are filling up fast!  Please schedule your meeting with Deidra soon.

Reminder: the Q4 2021 quarterly estimated tax payment is due January 15, 2022. 

Note:  Our office will be closed for the Thanksgiving holiday and from December 23 through January 4.

Have you heard…about DMR’s YES! Program? 

The program is designed for Your Empowered Success and offers Year-round Entrepreneurial Support. 

We’ve received rave reviews about our YES! Program which is offered on a monthly, quarterly, or semi-annual basis. Learn more about it here.

Helpful Tip

Cybersecurity isn’t just for large corporations. The trend towards cyberattacks on small businesses is growing. We encourage you to take a closer look at your security protocols. Here’s a short article with easy-to-implement tips.

HorseLink is a 501(c)3 nonprofit founded by our client, Julie Puentes. HorseLink farm located in Bastrop, Texas, offers equine therapy to people in need of trauma support, training in emotional resilience, and leadership and communication. You can visit their website to learn more as well as read this article from the Austin American-Statesman. 

They are also a part of Tito’s Handmade Vodka fundraising challenge 2021 and have some really great winning opportunities with every donation including a great Glamping Trip Giveaway!

We love Becky’s pies and you will too!   

Our client, The Loving Libbie Foundation, helps families battling cancer.  This is a sweet way to give back and add to your Thanksgiving celebration at the same time! 

Get your Thanksgiving Pies while they are available!

We love when our clients are featured for their good work. We’d love to highlight your business, too! 

Please email our Client Services Coordinator at csc@dmraccounting.com if you have news to share!  

Our team is here to help you wrap up 2021.

As 2021 comes to a close, we encourage you to connect with your current DMR bookkeeper. They will be reaching out to gather important year-end information to have everything in order for the upcoming tax filing season. 

Our virtual Client Services Coordinator, Carrie Jareed, is available to onboard new clients, answer questions about your account, or the YES! Program. Please do not hesitate to contact her at csc@dmraccounting.com, or reach out to us via our DMR Client Online Solutions Box.

Please share this newsletter if you know a small business in need of assistance.  Your referrals are always welcome!

We are thankful that you trust us with your business and accounting needs and wish you a very Happy Thanksgiving holiday!

We hope you are having a wonderful summer and are staying cool!

We are excited to announce a client celebration, and a bit about our team.  Additionally, we would like to make you aware of an IRS tax scam warning.

The IRS is warning of a wave of pandemic-related tax scams. 

This article from the Journal of Accountancy has more details. The article mentions the IRS Dirty Dozen of tax scams for 2021. Please take a moment to read through these short articles. We want you to be aware and stay vigilant in protecting your information.

Shout out to our client, Sayers Real Estate Advisors! They were nominated for Austin Business Journal’s 2021 Family Business Award. You can read the full article here and see our post on the DMR Facebook page. 

We love when our clients are featured for their good work. We’d love to highlight your business, too! 

Please email our Client Services Coordinator at csc@dmraccounting.com if you have news to share!  

A little more about the DMR Team… You probably know most of us in our professional capacity, so today we’re sharing some personal tidbits…

Deidra Ryan, CPA, is our fearless leader, and has a life-long passion for learning and teaching. She enjoys hiking and traveling with her husband and two children. They are also pickle connoisseurs and enjoy periodic “pickle runs” to Fredericksburg where they can stock up on their favorite homemade dill pickles. They love animals especially their black lab, Jada, and lucky black cat, Ella.

Kyle Ryan has been a results-oriented Information Technology (IT) professional for over 20 years. He also happens to be a fantastic chef! He loves keeping up with the latest in tech gadgets and has a collection of tech toys with 2 Google Homes, Alexa, and Siri, Apple Watch, iPads, Kindles, and Airpods.

Nayana Shahane has enjoyed working in small business operations for over 10 years. She also enjoys singing in a local women’s chorus, seeing live music, and traveling with her husband and three teenage boys.

Nicole McClendon loves her client relationships and supporting each client in their unique business endeavors. She enjoys gardening, playing Mah-Jong, traveling, and spending time on the lake. 

Carrie Jareed has been consulting for entrepreneurs for over 15 years helping them develop and streamline their business processes. She loves scrapbooking, camping, and spending time with friends she’s known since her three grown boys were in preschool.

Dianne Szabo is a master of turning chaos into calm. When she’s not breaking down complex tasks she enjoys music and photography, as well as spending time with her family and traveling. Dianne is working on her goal to travel to all the national parks and all 50 states.

Courtney Schacherer has a love of numbers and a mission to help clients; the accounting field is an excellent fit for her. In her downtime, she enjoys gardening, jigsaw puzzles, and hiking with her corgi, Hazel.

Ashlyn McClendon is our amazing intern and a Class of 2021 graduate of Vandegrift High School. When she has a break from studying she enjoys drawing, painting, and baking. She plans to continue with DMR as she pursues her undergraduate studies at American University.

Our team is available to answer your questions.

As the small business environment continues to evolve, we encourage you to reach out to your current DMR bookkeeper or CPA, to assist in navigating these changes. 

Our virtual Client Services Coordinator, Carrie Jareed, is available to onboard new clients as well as answer your account questions. Please do not hesitate to contact her at csc@dmraccounting.com, or reach out to us via our DMR Client Online Solutions Box.

Please share this newsletter if you know a small business in need of assistance.

We wish you continued success as you head into the 2021 fall season!

Deidra & the entire DMR Team

DMR Accounting & Consulting – Our Purpose and Values

Connect with us on Facebook!