QuickBooks-Blog

Newsletter – March 2012

7 Common Small Business Tax Misperceptions One of your biggest hurdles is staying on top of federal, state and local tax forms. Unfortunately, tax laws misinformation can lead to costly mistakes. Here are 7 common small business tax misperceptions. Using a Car for Business? If you use your car for business, you can deduct your expenses. Learn which receipts and records to keep and which deduction method to use. 8 Ways Children Lower Taxes Children can decrease your taxes. Check out the top 8 ways having kids can lower taxes.   Tax Tips   It is Not Too Late for a 2011 IRA Contribution Itemizers Can Deduct Certain Taxes Can You Take a Child Tax Credit? Medical & Dental Expenses and Your Taxes   QuickBooks Tips   QuickBooks Income Tax Reports And Filtering Options   Financial Planning Tips   College Planning Mortgage Review Required Minimum Distribution Review Budget vs. Actual Estimated Tax Payments   Tax Due Dates   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. 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. Click here to read the rest of the newsletter.   Please call 954-903-7250 (888-503-8677) if you have any questions. BlockTax QuickBooks 14 E. Oakland Park Blvd Fort Lauderdale, FL 33334 www.blocktax.com

Free Tax Due Dates List, Free Tax and Accounting Newsletter

It always surprises me when some clients ask me for a tax calendar of tax due dates. My website always has this always updated free list of tax due dates. Please contact us if you need a more comprehensive list of tax due dates from states. You also can check back here, as I will soon have an updated list of tax due dates for most or all states.

You can even read our recent newsletters or signup to have them automatically delivered to you monthly.  They include the most current tax due dates and much more.

 

September 2011 Newsletter

	September 2011 Newsletter

These timely articles help you achieve your financial goals.

Please come back and visit often. 

September 2011 Newsletter  Feature Articles 3 Tips for Getting an Accurate Business Valuation Should You Invest in Life Insurance? Employee Relocation in a Down Market A SIMPLE Retirement Plan for the Self-Employed Tax Tips 5 Tips for Taxpayers Who Owe Money to the IRS What Income Is Nontaxable? Moving Soon? Let the IRS Know Gift Taxes Tips for Recently Married or Divorced Taxpayers QuickBooks Tips Tracking Bills in QuickBooks, Worth the Effort Financial Tips Create a Living Will Update Your Will Review Budget vs. Actuals Previous Issues of newsletter

 

July Newsletter, Tax Due Date

Read Our Newsletter     Financial Calculators     Tax Center   Free Reports     Contact Us

Featured Articles For July, 2011 (See Tax Due Date below) How to Save for College Tax-Free The need to save for college weighs heavily on most parents - but there are plans out there to help. You still need to set aside a significant amount of money, but if you use a 529 plan or a Coverdell ESA, you'll save big on taxes. Protecting Financial Records from Wild Weather So far, 2011 has seen its share of tornadoes and floods - and hurricane season is just getting started. Don't let a natural disaster ruin more than your property. Take steps now to safeguard your financial records. Getting a Tax Credit for Your Honey Do List With all the jobs to do around the house, wouldn't it be nice to get a tax credit for some of them? If you're tightening up your home to save on energy, you just might be able to. Read this article to learn how. Tax Tips 2011 IRS Mileage Rates Changed for July 1, 2011 Do You Need to Pay Estimated Taxes? After I Do - Best Filing Status for Married Couples Deducting Your Home Office Got a Letter from the IRS? What You Need to Know QuickBooks Tips Job-Tracking Adds Precision to Your QuickBooks Company Financial Planning Tips Estate Plan Checkup Examine Property Tax Bills Budget vs. Actual Investment Review Tax Due Date July 11 Employees Who Work for Tips - If you received $20 or more in tips during June, report them to your employer. You can use Form 4070. July 15 Employers - Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in June. Employers - Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in June. August 1 Employers - Social Security, Medicare, and withheld income tax. File Form 941 for the second quarter of 2011. Deposit any undeposited tax. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the quarter in full and on time, you have until August 10 to file the return. Employers - Federal unemployment tax. Deposit the tax owed through June if more than $500. Employers - If you maintain an employee benefit plan, such as a pension, profit sharing, or stock bonus plan, file Form 5500 or 5500-EZ for calendar year 2010. If you use a fiscal year as your plan year, file the form by the last day of the seventh month after the plan year ends. Certain Small Employers - Deposit any undeposited tax if your tax liability is $2,500 or more for 2011 but less than $2,500 for the second quarter. Click here to read the rest of the newsletter. Please call (954)903-7250 if you have any questions. These newsletter articles are not to be used to improperly avoid federal tax penalties.

 

June Newsletter

Featured Articles For June, 2011

(includes Tax Calendar below)

How to Pay Less for Your Summer Vacation
There are steps you can take to save money on your vacation this summer - and we're not talking about budget motels and soggy sandwiches from home. Check out this article to learn how to deduct part of your summer travels as a business expense. Just be sure to follow the rules set by the IRS...

Sell Your Home But Keep the Profits
Find out how to avoid capital gains tax on the sale of your house. Home improvements make a difference! Also check out 2011's new rules for the Home Energy Credit.

The Best Financial Tool for Business Owners
Learn the surprisingly simple step you can take to reach your business goals - and with less effort than you might think.

Tax Tips

Getting Withholdings Right This Tax Year
Tips on Tips
Are Your Social Security Benefits Taxable?
Six Tips for Paying Estimated Taxes

QuickBooks Tips

Protecting Your QuickBooks Data Against Hackers

Financial Planning Tips

Review Your Insurance Policies
Lower Your Utility Costs
Analyze Budget vs Actuals

Tax Due Dates

June 10

Employees - who work for tips. If you received $20 or more in tips during May, report them to your employer. You can use Form 4070.

June 15

Individuals - If you are a U.S. citizen or resident alien living and working (or on military duty) outside the United States and Puerto Rico, file Form 1040 and pay any tax, interest, and penalties due. (U.S. citizens living in the U.S. should have paid their taxes on April 18.) If you want additional time to file your return, file Form 4868 to obtain 4 additional months to file. Then file Form 1040 by October 17. However, if you are a participant in a combat zone, you may be able to further extend the filing deadline. Individuals - Make a payment of your 2011 estimated tax if you are not paying your income tax for the year through withholding (or will not pay enough tax that way). Use Form 1040-ES. This is the second installment date for estimated tax in 2011. Corporations - Deposit the second installment of estimated income tax for 2011. A worksheet, Form 1120-W, is available to help you estimate your tax for the year. Employers - Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in May. Employers - Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in May.

Click here to read the rest of the newsletter.

Please call us at (954)903-7250 if you have any questions.