As I write this article for our monthly newsletter, I am watching TV and found out this new tax bill that just passed will make everyone so successful we will all have our own personal jet airplane. Oh, wait … I just changed the channel and found out this is the worst thing that could possibly happen to all of mankind, and as soon as I finish writing, I’m heading out to stock up on food and water since the world will certainly end. Whew, I’m thankful the “Power” button still works to turn this noise off.
Sarcasm aside (which is not easy for me), the changes in the new tax law will have a different effect on each of us. It is vitally important to understand our individual financial position, and how the changes affect us personally. This means having a firm grasp on our business, and the changes we may need to make in reaction to the new rules. I heard one “expert” say they prepaid as much of their real estate taxes for next year as they could, and the very next “expert” say not only is that a bad idea, you can’t legally do that. Since neither of these people know my personal situation, I think I’ll ignore their advice.
At the risk of repeating myself from earlier articles, here’s where the importance of working with trusted advisors pays off. These professionals know your business and will be able to guide you through the maze of changes.
You can count on us at Red Wing Software to keep you up-to-date on payroll tax tables, depreciation calculations, and any other changes that need to be made in our software, as the rules are solidified. Unfortunately, this may mean more frequent releases of new versions of our software so we can ensure you have the most current information. We are also expecting a higher than normal load on our Support Team, and will do the best we can to provide the service that you’ve come to expect from us. We will do everything in our power to help keep you informed with as little disruption to your operation as possible.
Thank you for your continued support, and have a happy and prosperous New Year.
We are pleased to offer our Red Wing Software customers an opportunity to learn more about W-2 and Affordable Care Act (ACA) year-end tax forms via pre-recorded sessions in our online Virtual Classroom. These sessions were recorded by one of our CenterPoint experts and provide you with in-depth information and explanations about the year-end tax forms from any location where you can access the internet (high-speed internet connection recommended).
You can view the pre-recorded year-end tax form sessions and session materials from the links below. Under Course Materials (on the lower-left side of the page), first view the session guide and then view the video.
W-2 Forms for CenterPoint Payroll
ACA Forms for CenterPoint Payroll
Greden’s Ponderosa Dairy featured in Dairy Star Magazine
Greden’s Ponderosa Dairy was featured in the October 14, 2017 issue of Dairy Star Magazine, in the story: On-Farm Practices Affects Beef Quality. The story discusses Greden’s management practices and training for their 550-cow dairy in Altura, Minnesota.
Sunburst Dairy Featured in Progressive Dairyman
Sunburst Dairy was featured in the October 19, 2017 issue of Progressive Dairyman, in the story: Three Farms Tackle Family Transition in Different Ways. Yogi Brown of Sunburst Dairy gave their story of transition on the farm.
At Red Wing Software, we continuously investigate new technology that will help us better manage our business. We employ a process to choose the technology and the company or companies to work with when we collect and analyze data.
When deciding what new technologies to use in our operation, and the companies we choose to work with, we first determine what information we need, and how we will use the data. We quite often take baby steps when adopting new systems. We know it’s ok to start slowly. Here’s what I recommend to people that start to use our financial software: Keep track of the same level of information that you kept track of before you moved to our more robust system. A technology change is hard enough without introducing a whole new level of detail to your work load. Then, as you get comfortable with the new system, add more detail to help drill down and get better analysis at a lower level.
After we determine what we need, it’s time to start to look at the companies that offer those solutions. There are a lot of good companies that offer some amazing products and functionality that we need to sift through. Once we narrow down the list of products that can handle our requirements, we consider the people we’ll be working with. These people are going to become trusted advisors to our operation. In some cases, it’s important that the new technology we implement plays well with the other technology that we already use. This may mean that the systems have to share data bidirectionally, or at least be able to import or export data in a format that is compatible.
So, when you start to implement new technologies in your operation, decide what you need and how you will use the data, find the companies and people that are a good fit for your operation, and move forward. Every day you wait, you lose valuable data that can never be recreated.
With the holidays in full swing, now is a good time to remember all the important people in our lives. On behalf of Red Wing Software, I want to wish a Merry Christmas, Happy Hanukkah, and prosperous New Year to our families, customers, co-workers, partners, vendors, and all the people that help keep us happy, safe, and free.
Red Wing Software will be discontinuing support services and product upgrades for the Champion Controller Accounting and Payroll and for Windows Accounting Series Software on March 31, 2018. If you are still using one of these products for your business, it is important that you work with our staff to start the transition process to your CenterPoint® Accounting. There will be no upgrades or telephone support for Champion Controller or Windows Accounting Series once support ends. If you are also using Champion Controller Payroll, you will only receive tax tables for 2017; there will be no tax table updates for 2018.
A Red Wing Software consultant will help you through the transition process. Call us to get up and running on CenterPoint! To speak with a consultant, please call 800-732-9464.
Thank you for being a long-time customer of Red Wing Software. We look forward to an ongoing partnership with you and your business!