News
Our in house QuickBooks ProAdvisor, Eric Smith will be teaching a free introduction to QuickBooks on October 30, 2013 from 8:00 am to 10:00 am. Who Should Attend: This workshop is for business owners who are new to QuickBooks or want to use it better What You Will Learn: Importance of keeping and managing your business […]
Congratulations John! John Baiamonte has passed all four parts of The Uniform CPA Examination. The exam is one of three requirements to become a CPA, the others being education(150 college hours with a specified number of accounting/auditing courses) and two years’ experience (including 400 hours in audit/accounting and 200 in taxation/advisory). The exam takes four days to complete. It […]
For years, we relied on a logo and website designed in house, but, after 10 years our website was too antiquated to use, and our logo was in need of an overhaul. Thanks to 5ive Leaf Design, we launched a new website this year and we updated our logo, letterhead, and soon all other printed materials. […]
To assist our clients with their finances, EFS is offering a tax planning package utilizing our new planning software. The package includes two meetings and a report summarizing the results and is available to our 1040 clients. The cost for this planning package is available at a discounted flat fee of $225 through November 15, […]
There is still time to do 2013 tax planning for your business. $500,000 expense allowance exists for equipment purchased in 2013. Next year’s ceiling is expected to decrease to around $145,000. The 50% bonus depreciation is scheduled to expire in 2014. There are other breaks that may also apply to your business. Give us a call […]
It has been our policy to answer phone calls with a live person as we believe our clients deserve superior service. However, the number of robocalls we receive each day has become so significant that it is hindering our work. Therefore, temporarily, we are allowing all calls to go to our answering tree first, which […]
Maine sales tax rates are changing effective October 1, 2013. The 5% rate will increase to 5.5%; the 7% rate will increase to 8% (the 10% rate does not change.) Consequently, the state is requiring annual filers to prepare two returns this year, one for the period through September 30th due on October 15, 2013 and one […]
The Maine Circuit Breaker program has been repealed and replaced with a Property Tax Fairness Credit. This credit can be claimed on the Maine Individual Income Tax form using the Property Tax Fairness Credit Worksheet which will be available in January of 2014. Eligibility requirements include: Maine residency for any part of the tax year […]
We are all dealing with the many ins and outs of the new Affordable Health Care Act. Although its intent is to help control the cost of health care, it is a very complex law with changes and delays making it even more difficult to comprehend. Lily Dalton, in our office, has been assigned the task […]
This is our Second Annual Sustainability Report, outlining our recent and continuing efforts to increase our triple bottom line (people, planet, profit). We will continue reporting our progress as we become increasingly efficient and more beneficial to our community. Each section of this report will cover a topic of sustainability and what EFS has done or is […]
Scott Edwards, the managing partner of EFS, has served as a Maine Business School (MBS) adjunct professor this past academic year. The MBS Connects spring newsletter features an article about him on page 15, which covers topics ranging from his views on teaching to his own education and his career in auditing. Congratulations Scott! Follow the link below to […]
Edwards, Faust & Smith will be holding a seminar for clergy, clergy spouses, financial secretaries, church treasurers, and individuals who prepare W-2s for the clergy. The Seminar will be at FIRST UNITED METHODIST CHURCHESSEX STREET, BANGOR ME MONDAY JUNE 24, 20131:30 PM – 4:30 PMCheck-in starts at 1:00 PM $10.00 per person Clergy and Congregations […]