Archive for the ‘General Articles’ Category

Easy Way To File W-2′s and W-3

The deadline for distributing W-2’s to your employees is January 31, 2012.  The W-3 with copies of all of the W-2’s must be filed with the Social Security Administration by February 28, 2012.  Since you are facing these 2 deadlines, I have a solution for you that will save you time, money and frustration.  It will print all your employee W-2’s.  It will automatically file your W-3 and it requires no software or forms purchases.

 If you are like me, I need to make my time effective.  I recently found a way to complete all of my W-2’s and file my W-3 with very little effort.  What I am going to give you here would work best for a company that has less than 50 employees, however, if you read the instructions in the site I give you, you can prepare and submit more than 50 W-2’s.  In searching the IRS.GOV site, I was directed to the Social Security site and there I found an absolutely great solution for my filing of W-2 & W-3.

 Go to:  In the middle of the right hand column you will find boxes where you can log in or register a new account.  Since I had never done this before, I registered a new account.  Be sure you read the rules for the requirements of your password.  They will issue the user name.  Be sure you print this out and save for future use.

 Then just follow the instructions.  The site will recalculate the social security and medi-care withholding.  If you make an error in input, it will stop you to recheck your numbers.  You can override it, but you will probably find out you made an error.  I am talking from experience.

When you have reviewed your information for correctness and are satisfied, this system will print out your W-2’s for distribution to your employees, W-2’s for submission with your state W-3 and then it will even file your W-2’s and W-3 with the Social Security Administration.  You don’t have to print out anything else or mail it.  It is automatically done for you.  You will actually be filing your W-3 before the deadline.  What a change???

 I was blown away!  This is government, and it is actually working for me and making life easier.  What a surprise.

Call me (402) 502-2255 or email me (  if you have a question.

 Dale Marples

CFO Omaha, Inc.

New Social Security Rates and Income Tax Withholding for 2011

Starting January 1, 2011, the rates for Social Security and Income Tax withholding will change.  If you do not make the change on January 1st, you have until January 31, 2011 to make the change.  My advice, try to get the changes in place for any wages paid in 2011.  It will make your reporting process easier.  You have to make the changes sooner or later, so do it sooner, like in now.

Social Security Rate Changes:

               For the employee, the new withholding rate has been decreased by 2%, reducing it from 6.2% to 4.2%.  However, make sure you understand that the employer rate did not change.  It remains at 6.2%.  If you have a payroll service, they will (or should) take care of this for you, but if you calculate your payroll manually, make sure you use the new rates for the employee at  4.2% and the employer rate at 6.2%.  The taxable wage base limit if $106,800 for 2011.

 Income Tax Withholding Rate Changes:

                The Making Work Pay credit expires on December 31, 2010, and as a result, the income tax withholding tables are being revised.  This information is in an IRS Notice 1036 and will also be reprinted in Publication 15 (Circular E) which will be posted on very soon.  This change is also effective January 1, 2011.

Medicare Tax Rates:

                There is no change in the Medicare Tax Rate.  It remains at 1.45% for both the employee and employer

 You can obtain a copy of Notice 1036 by googling IRS notice 1036.  Next week, try going to and see if the new Publication 15 (Circular E) is available on-line.

Call me (402) 502-2255 or email me (  if you have a question.

It’s Time to Start Planning Your Year-End Tax Position

You only have 3 weeks to the end of the year so now is the time to talk to your tax specialist or CPA to plan for your year-end tax position.  Whether you need to purchase some equipment or inventory or trade investments, now is the time to make that decision so it is all completed by December 31st.  The decisions you make can affect your tax burden by thousands of dollars and even have an effect on your 2011 operation, so this is an important event.

 The main thing you need to do in order to be prepared is get your Quick Books or whatever accounting system you use, up to date.  That means all of your invoices prepared, all payments recorded and your accounts payable up to date because your tax specialist can not determine your strategy without your records being complete.

We still don’t know what the government is going to do about taxes for next year, so make sure you take care of this year properly and then you can deal with next year’s taxes when they come.  In our present economic situation, you, as a business owner or manager, must add managing your tax situation to all of the other responsibilities you have.  You are not being a good manager of the resources you have if you over-pay your taxes.

Call me (402) 502-2255 or email me (  if you have a question.

Do You Have The Financial Expertise To Manage Your Company?

You don’t have to be the expert in every aspect of your business.  Many successful business owners came from the trade or business they used to work for and decided they could go into business for themselves rather than make someone else rich.

You obviously know how your industry works and how to make money, but the financial management aspect of the business is giving you problems.  You don’t understand your Quick Books accounting system.  You know you have to manage your cash flow, but don’t know how.

Let me assure you, there is nothing wrong with you, nor are you alone in your frustration.

 That’s why you need to outsource your financial management  and that is what CFO Omaha, Inc., will bring to you.    We come along side of you and provide the service you need so you always have up-to-date information so you can make good financial decisions.  Our function is to relieve you of those time consuming details so you can manage your business and be successful.

 Call me (402) 502-2255 or email me ( and lets talk about getting your free of the details so you can manage your business.


If you need a business plan for a start-up business or an on-going business, I can customize a plan for your need. I will provide a projection month by month for the first 12 months, itemized by each income stream and broken down by every category of expense for your company, including debt service. The remaining 2 years will be broken down in the same categories, but will be presented by annual totals for each year. This will allow you to evaluate your initial capitalization needs and working capital needed until sufficient cash flow will provide your day-to-day needs.