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7 Common Small Business Tax Misperceptions Using a Car for Business?
Tax Tips
It is Not Too Late for a 2011 IRA Contribution
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March 12 |
Employees who work for tips - If you got $20 or more in tips in February, report them to your employer on Form 4070. |
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March 15 |
Employer Non-payroll withholding. If the monthly deposit rule applies, deposit the tax for February payments. Employers - Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for February payments. Corporations - File a 2011 calendar year income tax return (Form 1120) and pay any tax due. For an automatic 6-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe (we already did this for clients). S Corporations - File a 2011 calendar year income tax return (Form 1120S) and pay any tax due. Provide each shareholder with a copy of Schedule K-1 (Form 1120S). For an automatic 6-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe (we already did this for clients). S Corporation Election - File Form 2553, Election by a Small Business Corporation, to choose to be treated as an S corporation beginning with calendar year 2012. If Form 2553 is late, S treatment will begin in 2013. |
Please call 954-903-7250 (888-503-8677) if you have any questions.
BlockTax QuickBooks
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Fort Lauderdale, FL 33334
www.blocktax.com
