Tag Archives: tax planning

How to be Tax-Smart When it Comes to Mutual Funds

Mutual funds are so common these days that many people overlook the tax considerations involved. Here are some tips on how to be tax-smart with these investment vehicles. Avoid year-end investments Typically, mutual funds distribute accumulated dividends and capital gains … Continue reading

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May 2019 Tax Deadlines

May 31, 2019 Deadline for financial institutions to send out Form 5498 to report balances in an individual retirement account.

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Tax Day is April 15!

April 15, 2019 Estimated quarterly payments So it begins. If your business pays taxes on a quarterly basis, the first 2019 estimated quarterly tax payment is due today. Forms: Form 1040-ES, Estimated Tax for Individuals (Payment Voucher 1) Individual tax returns due … Continue reading

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March 2019 Tax Deadlines

March 15, 2019 S corporation and partnership tax returns due Today is the deadline to file your S corporation tax return (Form 1120-S) or Partnership return (Form 1065). Note that S corporations and Partnerships do not pay taxes on their … Continue reading

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February 2019 Tax Deadlines

February 15, 2019 Form 1099-MISC Copy B filing deadline If you are filing a 1099-MISC, regardless of whether Box 7 is filled, you must get Copy B to the contractor in question no later than February 15, 2019. February 28, 2019 Form … Continue reading

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Bad Debts Aren’t Always Bad News

The IRS defines a business bad debt as “a loss from the worthlessness of a debt that was either created or acquired in a trade or business or closely related to your trade or business when it became partly to … Continue reading

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November 2018 Tax Deadlines!

November 10 — Employees who work for tips If you received $20 or more in tips during October, report them to your employer – Details November 10 — Social security, Medicare, and withheld income tax. File Form 941 for the third quarter of … Continue reading

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September 2018 Tax Deadlines

September 5 — Everyone Federal Holiday (Labor Day) Details September 10 — Employees who work for tips If you received $20 or more in tips during August, report them to your employer Details September 15 — Individuals Make a payment of your 2018 estimated tax … Continue reading

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June 2018 Tax Deadlines

June 15, 2018 2nd Quarter 2018 Estimated Tax Payment Due If you are self-employed or have other second-quarter income that requires you to pay quarterly estimated taxes, make sure your payment is postmarked by June 15, 2018 tax deadline!

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Infographic: Under the New Tax Law You Cannot Deduct Hobby Expenses

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