We provide unparalleled support and personal service. Our reputation for providing accurate, on-time payroll makes us different from the competition We customize our services to match your company’s individual needs to serve any size group or program.
We offer competitive prices and responsive service. Our competitive fees keep your payroll costs down while our in-house expertise adds value to the payroll process. With the support of our Certified Public Accounting and Technologies departments, Canon Capital can answer your questions quickly and be responsive to your special needs.
We eliminate the pain of in-house payroll processing. By providing services not always available with other payroll groups, such as withholding and reporting local and LST taxes, Canon Capital takes the effort out of payroll. From the simple conversion and start-up through comprehensive, easy-to-read reporting, our payroll services save you time, money and stress.
Amanda first joined Canon Capital in January 2013 and we are pleased to welcome her back to our team as of August 2022. Amanda’s previous career milestones include working as a Financial Controller for African Bible Colleges in Malawi, Africa. She received her BA in Business from Covenant College. Amanda resides in Palm with her husband and four children. In her free time, Amanda enjoys volleyball, biking, traveling, and spending time with her family.
Intuit has recently announced the eventual phasing out of the desktop versions of its QuickBooks accounting software. After July 31, 2024, Intuit will no longer issue new subscriptions to these QuickBooks Desktop products:
QuickBooks Desktop Pro Plus
QuickBooks Desktop Premier Plus
QuickBooks Desktop Mac Plus
QuickBooks Desktop Enhanced Payroll
Existing users of these products can continue renewing their subscriptions and will receive support and security updates after July 31, 2024. The final sunset date has not yet been shared by Intuit.
Why move to QuickBooks Online now?
We recommend you make the move to QuickBooks Online sooner rather than continuing with your Desktop version. The advantages of working in cloud-based accounting software outweigh the learning curve.
Increased efficiency
With available online automated accounting services, the information in QuickBooks Online is timely, accurate, and always at hand. From an accounting perspective, this gives you more time to work on your business and allows your CPA to be involved at a higher level to provide guidance as needed.
Increased protection
Using the online version of QuickBooks gives you greater protection from these cyber threats:
Data breaches: older software has inadequate safeguards to detect malicious behavior.
Fines and denied insurance claims: Cyber Insurance onboarding questionnaires will ask if you are running any software that would be considered “end of support.” Likewise, government compliance standards all require affirming a statement that you are not running any end-of-life or end-of-support software.
Extended downtime: due to lack of vendor support as well as data breach or corruption
A cloud-hosted application like QuickBooks Online will avoid these risks, providing:
New features and security enhancements
Typically have a 99.8% uptime guarantee
Known and consistent costs for budgeting purposes
Hardware requirements are minimal.
Changes that are spread out over time.
Added Benefits
Making the transition from QuickBooks Desktop to QuickBooks Online is a seamless process. After creating the QuickBooks Online account, your most recent desktop data file would be migrated to the new platform. This process will take approximately 24 hours. It may take more or less time, depending on the size of the file being migrated.
After that, you can start enjoying the benefits of using cloud-based software:
Secured Storage that Remains Compliant
Access From Anywhere
Faster Processing
Centralized Tasks
Real Time Transactions
Integration
Access to mobile apps for mileage, expenses, etc.
Where do we go from here?
If you’d like to learn more about using QuickBooks Online, our recent webinar provides greater detail in preparing for this change. We recommend viewing the webinar in its entirety.
One source, many services, the right decision.
If you have questions about next steps or if we can be of service, please contact us online or call 215-723-4881.
Outsourced Accounting and Advisory Service Specialist
Cherie began working at Canon Capital in 2023, bringing over 30 years of experience in corporate, non-profit, and private-sector accounting services. She has specialized in outsourced accounting services and automated accounting integrations for more than 10 years. Cherie earned her BS in Business Administration from Albright College and is currently working to obtain her license as a Certified Accounting Paraprofessional. She is also a Certified QuickBooks Pro Advisor. When not working, she enjoys spending time with family and friends and volunteering time to various philanthropic endeavors.
We will perform a free Technology Review for your business! This service is performed at your location, and includes over 40 inspection points on your computer systems, peripherals and software. We will inspect items such as:
Your network file server – condition, capacity, strengths, weaknesses
Data loss protection – backups, tape rotations, etc.
Virus protection
Internet connectivity, speed, reliability
Peripherals (printers, modems, scanners, etc.)
Software – applications that make you efficient and help you to run your business
Workstations – we will inspect several of your Windows based workstations
Upon completion of the on site Technology Review our analysts will evaluate your information back at our office. We will then provide you with a professional document which outlines your current systems and software, areas of strength, and areas that need improvement WITH specific suggestions for increasing efficiency and profitability.
Please call Kent Gerhart at 215-723-4881 x131 to arrange for your free Technology Review today.
We proudly announce the promotion of Chuck Porter, Jr., to Co-Director of Wealth Management.
Chuck joined Canon Capital in 2006 and has been working as a Senior Investment Advisor. In 2018, he was admitted to the company as a shareholder.
Chuck will serve alongside Co-Director Patricia Webb in developing strategic initiatives, guiding the delivery of exceptional client service, and fostering continued growth for the Wealth Management unit.
“We couldn’t be more thrilled to welcome Chuck into this new, well-deserved role,” said Webb. “With his exceptional expertise and unwavering commitment to our clients, I am confident that his passion for our company’s success will bring new dimensions to our team and further elevate our standards.”
“As I step into this new role, I’m deeply committed to ensuring that our firm is positioned not only for growth but for sustained success over the long haul. I could not have reached this milestone without the unwavering support and dedication of our remarkable team of advisors and support staff. Together, we are poised to achieve great things, and I’m excited to continue serving you with the same level of commitment and care,” said Porter. “I also want to assure my clients that this promotion doesn’t equate to a change of advisor for them. I remain dedicated to serving in an advisory capacity, just as before.”
Please welcome Andrew Stein and Cherie Strozzieri, who have joined the Canon Capital Management Group team within the last few months.
Andrew Stein’s financial services industry expertise is demonstrated in his advisory role with clients regarding their investments and planning, ranging from asset growth to retirement income planning. Mentoring is a priority for Andrew, who spends his time outside of work helping to facilitate local sports camps with the Fellowship of Christian Athletes.
Cherie Strozzieri brings extensive experience in corporate, non-profit, and private sector accounting services. She is also a Certified QuickBooks Pro Advisor. In her spare time, she enjoys spending time with family and friends as well as volunteering time to various philanthropic endeavors.
Learn more about our team and how they can be of service to you.
Please join us in congratulating Margaret McCarthy, Client Relationship Associate at Canon Capital Investment Advisory, on earning the Chartered Retirement Plans SpecialistSM (CRPS®) designation.
This designation, awarded by the College for Financial Planning, demonstrates McCarthy’s expertise in retirement plan design, installation, and maintenance for businesses, non-profit organizations, and government entities of all sizes.
Her continued commitment to excellence will undoubtedly benefit our clients as they work toward their retirement goals.
For more information about the CRPS® designation and its significance, please visit the College for Financial Planning’s website.
For inquiries about or assistance with retirement planning, feel free to contact us online or call 215-723-4881.
67 cents for every mile driven for business use (an increase of 1.5 cents from 2023)
21 cents for every mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces (a one-cent decrease from 2023)
14 cents for every mile driven in service of charitable organizations (rate is unchanged from 2023)
Avoid the guessing game and consider using an app like MileIQ to keep track of your mileage throughout the year.
Check Your W4
It’s always a good idea to start each new year with a Paycheck Check-up to make sure your withholdings are set at the appropriate level. Doing so will help avoid any unpleasant surprises at tax time. Download the 2024 form W4 here.
Minimum Wage Updates for People Employed in New Jersey and Delaware
The minimum wage for qualifying employees in New Jersey will increase from $14.13 to $15.13 per hour. Consult this resource from the New Jersey Department of Labor for further information.
The minimum hourly wage in Delaware continues its incremental increase, with the 2024 amount increasing from $11.75 to $13.25, with continued exemptions for employees working in the following areas:
Agriculture
Domestic service in private households
United States Government employees
Sales personnel receiving outside commission
Executives, Administrators, and Professionals
Employees in fishing and fish processing (while at sea)
Volunteer workers for educational, religious, or non-profit organizations
Junior Camp Counselors working for non-profit summer camps
Inmates in Department of Correction work programs
The protocol for tipped employees also remains as follows:
“The minimum cash wage payable to employees who receive tips is $2.23 per hour. Tips may not be taken or retained by an employer except as required by law. Tip pooling is permitted (under certain circumstances) in an amount not to exceed 15% of the actual tips received by the employee.”
We’re Here to Help
If you have any questions about these updates or any other payroll or accounting matter, please don’t hesitate to call 215-723-4881 or contact us online.
