12 Mar Coronavirus Update from Fogged In Bookkeeping
Our Fogged In team wanted to give you an update as the Coronavirus pandemic spreads and begins to have impacts big and small on our daily lives and businesses. As we proceed without panic, but with an abundance of caution, our team may make some small, and temporary, changes in our operations. These changes will have very minimal impacts as we are already a virtual firm.
Fogged In Bookkeeping Operations
Fogged in Bookkeeping Operations in the day-to-day accounting work will remain unchanged. Except for Lucretia here in our Nantucket office, the team works remotely from their homes. Our systems are cloud-based and are set up for fully remote work. Below are our everyday recommendations that become even more important now.
- Make sure all your accounts are accessible to Fogged In via online banking. Depending on paper statements, dropping things off to our local office, and only having access to fund transfers via a local branch may cause you delays.
- Make sure your scanner is hooked up and you can use it. The more documents we can transfer digitally the better. If you are sick (with anything) we are going to ask you not stop by the office so being able to send things digitally will keep things moving!
- Get your employees on direct deposit! Direct deposit limits contact, prevents a trip to the bank, and can continue to happen even when people are ill. This is a great option any day not just because of Coronavirus. Got the flu and can’t get to the bank to deposit your paycheck? Not to worry. With direct deposit it is already there!
- Put what you can on auto-pay, especially things that impact our credit scores. Credit cards, loan payments, mortgages, etc. should be on auto-pay whenever possible. Cash tight? Put the credit card on auto-pay for the minimum payment so you don’t get dinged for a missed payment.
- Be prepared to use Zoom! Zoom video conferencing is convenient and free. No travel, no parking, no germs.
At this time the only change in our client services is that all meetings will be held virtually and that we will not be traveling to meet with clients in person for the time being.
Taxes! At the moment there are only a few changes to tax-related things due to Coronavirus.
- High-deductible health plans can cover Coronavirus tests without risking their status.
- The tax deadline has not been changed for everyone! The president is asking the Treasury to extend the deadline for those businesses and individuals impacted by Coronavirus. However, we strongly recommend that clients continue forward with their filings as planned. If the U.S. sees actions like that of Italy in the future, you will be much better off having just taken care of your taxes in advance. Trust me, just get them done!
We will continue to be in touch as things evolve. Please know that we take the health and wellness of our employees and customers seriously. Stay healthy out there and WASH YOUR HANDS!