Monteon Financial

06/07/2023

📆 June 15th (a.k.a the due date for your second quarter estimated taxes) is ALREADY here!

Not sure exactly how much you need to pay? Here's a quick breakdown of the who, when, and how much of estimated taxes.

Want some help figuring out EXACTLY how much you need to pay to avoid penalties? I can help! 📲

05/10/2023

☀️ Before turning on vacation mode and setting your Out Of Office responder, here's  an overview of the biggest tax deadlines coming up this summer:

📆 April 15th - Form 990
📆 June 15th - Q2 Estimated Tax Payment
📆 July 31st - Form 5500

You can always check out:
tax.gov/calendar/ for a full list of due dates or check with your tax accountant!

05/10/2023

I am so grateful to be interviewed by VoyageMichigan! Sharing my story and connecting with others is what keeps me going. I am grateful for this journey 🤍

Today we’d like to introduce you to Daniela Monteon. Daniela, we appreciate you taking the time to share your story with us today. Where does your story begin? Hello! My name is Daniela. I am a mother of two little girls (3yo & 1yo), a wife to an amazing husband, and an entrepreneur! I […]

05/08/2023

I had the pleasure of meeting so many incredible Latina women recently, and I have to say, I am feeling so inspired! It's an honor to be part of such a supportive and empowering community.

Yesterday we gathered to support National Small Business Week and celebrate the Latina Network’s new membership to the West Michigan Hispanic Chamber of Commerce (WMHCC). The Latina Network and the Hispanic Chamber have been partners since the beginning and more formally through our LatinxGR collaboration formed in 2018. We are excited for this next level of partnership to advance our shared goals around supporting and celebrating local Latinas.

The lunch social was held at La Casa Del Pollo Loco because they are a local Latina-owned restaurant, supports the community, and is also a WMHCC member.

Latina Network members - affectionately referred to Colibris - introduced themselves, exchanged contact information, socialized, promoted upcoming Latina-led events, and learned more about the services and benefits of WMHCC membership. The Latina Network also shared about our values, upcoming events, our vendor policy that centers Latinx and BIPOC businesses, and provided two raffle prizes curated from local Latina-owned businesses - a wellness kit from Natural Maya to align with May being Mental Health Awareness Month, and beauty products from Gissmar Beauty.

We are proud to be new West Michigan Hispanic Chamber of Commerce members! Learn more at https://westmihcc.org/

02/15/2023

Truth be told, here are the most common things that I see get missed month after month…
☞ Block off that time to look at your finances! This is as important as making those sales because we need to know where our profit is and where we are loosing money. If we give our finances that dedicated time it needs (as little as a few hours a week) we will be surprised on how caught up we will feel. Make a list on your top 3 things that need to get done this week in your books and get it done!
☞ Use an accounting software. If done properly, an accounting software can save you so much time! It basically does the work for you and spits out what you need to know. Quickbooks online is good place to start and is very user friendly and keep you organized on all your transactions.
☞ Having separate bank accounts for your business is crucial. This does not only help you keep a healthy credit score for your business but covers you in case you get into a tax audit. It will also help you stay more organized and keep a paper trail for your purchases and expenses.
☞ Keep your categorization simple and sustainable. Categorize expenses: business meals, out of town travel for business, vehicle-related expenses, office supplies, subscriptions, home office receipts.
☞ Reconcile your bank account or credit accounts. This ensures that the actual amount of money spent matches the amount recorded in your software or spreadsheet. Any charges that were not authorized will be detected as well as any other accounting errors.

🙋🏽‍♀️ Have any questions on how to do any of the above? I am only a DM away!

I will post how to do this in the following posts!

02/11/2023

I wouldn’t mind finding few of these on my desk! Personally valentines is my absolute favorite and I have been working on a fun little surprise for you all to show my appreciation! 🥰
Stay tuned 😉
DM “lovebug” for my free newsletter this month that is filled with tips and tricks to help you get a little organized this month! 💗

01/17/2023

🚨 JANUARY 17🚨

It’s here with all its glory!

Q4 individual Estimated Tax Payment are due TODAY.

📆 January 17th: Q4 Individual Estimated Tax Payment is due. If you expect to owe more than $1,000 in taxes in 2022, you should be making estimated tax payments. If you're a W-2 employee, your paycheck withholdings should be covering your obligation. However, if you're self-employed, you're responsible for sending in these payments yourself.

📆 January 31st: This is the date to get Form W-3 filed (to get those W-2s to your employees!) and 1099s out to your contractors.

Stay tuned for important dates coming up!

01/17/2023

This is probably the most asked and confusing topic in the accounting world 🫠

📌 Make sure to save for future reference!📌

1099s are confusing - and you may be obligated to file them (or receive them!) as a business owner.

So, what IS a 1099?

It's a form filed with the IRS showing proof of payment - you most commonly see them for contractor or rent payments and stock/dividend income.

Do you need to issue 1099s this year? Or still unsure about 1099s? Message me “TAX” for your free guide!

01/10/2023

💰Tax season is officially here! & you're invited (no RSVPs needed)!! 💰
The IRS typically begins processing e-filed returns in late January - so does that mean you have to file then?
Nope 😌
You'll want to wait until you have all of your tax documents (which includes a clean set of 2022 books!). This will make things less confusing for you and your tax preparer!
There's no shame in needing a little help getting caught up on your bookkeeping, I'm here to help!

Let me know in the comments how you feel this tax season!

#1099