Sage Summit 2014—Keep the conversation going!

Every day, we wake up committed to building something better—innovating for small and medium-sized businesses, reducing complexity, and simplifying technology for your consumption—providing you with the broadest range of choices in the industry.

Over the past few years, we have looked at how we develop our ideas and changed the way that we build and deliver our products. There are three trends that are shaping the business landscape and that are defining our next generation of solutions.

  • The first is how to use the cloud to extend your existing investment. Reducing complexity and increasing collaboration.
  • The second is looking at how we can help you to capitalize on cloud and mobility solutions and global access to data, which are driving a convergence in our personal and business lives.
  • And the third is what we call mission-critical considerations that are at the foundation of every product that we build. At Sage, reliability is an essential part of developing every new capability and each new service.

S Corporation to C Corporation: Good-to-Know Info

It is always possible at some point during the life of an S corporation, the shareholders decide they either would prefer to operate as a C corporation or, because of some event, the S corporation’s status will be terminated. What are the consequences of such a change?

First, let’s talk about the three ways in which an S corporation status is terminated:

  • Voluntary revocation,
  • No longer qualifies (for example, there is one too many shareholders), or
  • For the last three years, passive income exceeds 25% of gross receipts and there are C corporation earnings and profits.

In most cases, an S corporation’s status terminates at some time during the year, resulting in two short years: a short S corporation year and a short C corporation year. This creates the dilemma of how to calculate income and loss items for the year in which the change is made. There are two options:

  • Perform a pro rata allocation, or
  • Elect to close the books as of the date of termination.

Important SAGE Dates

Windows XP is no longer being supporting by Microsoft. Sage will work best with Windows 8 and Servers with 2012.

September 20, 2014
Release 4.4 will no longer be supported as of 9/20/2014. If you are on 4.4 or any earlier version, you should consider upgrading immediately.