Well, elections are right around the corner and we know how overwhelming all the information on commercials and debates can be so we decided to give an overview of where both candidates stand in regard to tax policies. Ã‚ Ãƒâ€š *** Note that we are not giving support to either candidate…we just want you to be well-informed on November 6. …
OCTOBER BUSINESS TAX DATES Oct 1- File Form 730 and pay tax on wagers accepted during August. File Form 2290 and pay the tax for vehicles first used during August. Oct 3- Deposit payroll tax for payments on Sep 26-28 if the semiweekly deposit rule applies. Oct 5- Deposit payroll tax for payments on Sep 29-Oct 2 if the semiweekly …
If your car is used for business purposes, whether you are self-employed or an employee, you can get the benefit of tax deductions. You have 2 choices for claiming deductions on a business car:  You can deduct the actual business-related costs of gas, oil, lubrication, repairs, tires, supplies, parking, tolls, drivers’ salaries, and depreciation.  Ã‚ Use the standard mileage …
September Business Tax Dates Sept 6- Deposit payroll tax for payments on Aug 29-31 if the semiweekly deposit rule applies. Sept 7- Deposit payroll tax for payments on Sep 1-4 if the semiweekly deposit rule applies. Sept 10- Employers: Employees are requiredto report to you tips of $20 or more earned during August. Sept 12- Deposit payroll tax for payments on Sep …
Residential Energy Tax Credits for 2012 Are your high utility rates making you think about âہ“going green†and making your home more energy efficient? This is the perfect time to do so especially if you want to take advantage of the residential energy tax credits available to homeowners. The Residential Energy Efficient Property Credit is available to individual taxpayers to …
Aug 1- File 2011 Form 5500 or 5500-EZ. Deposit payroll tax for payments on Jul 25-27 if the semiweekly deposit rule applies. Aug 3- Deposit payroll tax for payments on Jul 28-31 if the semiweekly deposit rule applies. Aug 8- Deposit payroll tax for payments on Aug 1-3 if the semiweekly deposit rule applies. Aug 10- Employers: Employees are required to report …
“You’re being audited” is probably on just about everyone’s Top 10 List of Most Dreaded Things to Hear! But, there are 7 ways to lower your risk of being flagged by the IRS for an audit. And believe it or not, they are pretty basic things to do. 1. Do NOT round numbers on your tax return. It’s better to …
While many Americans will be getting a tax refund this year, many will be getting a tax bill from the IRS. These lucky people will owe the IRS money and many will be unable to pay the entire bill. What should these people do? There are several options that the IRS offers in this situation. In some situations, leniency is …
Here’s a cute joke about our topic for the day: What do accountants suffer from that ordinary people don’t? Depreciation. The definition of depreciation according to Webster’s Dictionary is: 1: A reduction in value, writing down the capital value of an asset over a period of time in a company’s accounts. Source: European Union. 2: The decline in the value …
As a merchant, you do not have to report credit card income if it less than $20,000 for the year and the total number of transactions is less than 200. However, banking institutions and other financial service providers must report the total gross amount for credit and debit cards for the year for every merchant. So, this means, that as a …
