2021 – 09/10 Reminder: Estimated tax payments for the third quarter of 2021 are due on Wednesday, Sept. 15. In general, individuals (including sole proprietors, partners, and S corporation shareholders) have to make estimated tax payments if they expect to owe tax of $1,000 or more when their return is filed. Corporations generally have to make estimated tax payments if they expect to owe tax of $500 or more when their return is filed. Special rules apply to some groups of taxpayers, such as those in the farming and fishing industries, casualty and disaster victims, those who recently became disabled, recent retirees and those who receive income unevenly during the year.
Similar Posts
How to Spot an IRS Scammer
2022 – 08/01 Can you spot a fake IRS employee? Many people tremble at the thought of hearing from the IRS. That fear can make them vulnerable to scams that seek to steal their assets or identities. To combat IRS impersonator scams, the IRS has created a fact sheet explaining how it contacts taxpayers. The…
Small Businesses: There Still May Be Time to Cut Your 2021 Taxes
2021 – 11/29 Don’t let the holiday rush keep you from considering some important steps to reduce your 2021 tax liability. You still have time to execute a few strategies. Purchase assets Thinking about buying new or used equipment, machinery or office equipment in the new year? Buy them and place them in service by…
The Restaurant Revitalization Fund is now live
2021 – 05/05 The COVID-19 pandemic has affected various industries in very different ways. Widespread lockdowns and discouraged movement have led to increased profitability for some manufacturers and many big-box retailers. The restaurant industry, however, has had a much harder go of it — especially smaller, privately owned businesses in economically challenged areas. In response,…
EIDL loans, restaurant grants offer relief to struggling small businesses
2021 – 03/31 The American Rescue Plan Act (ARPA), signed into law in early March, aims at offering widespread financial relief to individuals and employers adversely affected by the COVID-19 pandemic. The law specifically targets small businesses in many of its provisions. If you own a small company, you may want to explore funding via…
Telecommuting: Do you Owe State Taxes?
2020 – 09/08 Are you an employer with employees working at home due to COVID-19? In response to the pandemic, some states have issued specific guidance on whether telecommuting employees temporarily working in a state due to COVID-19 create “nexus” for an employer who doesn’t operate in that state. Contact us for more information about…
Update Your Form W-4 Yearly
2022 – 01/11 Employees may want to update withholding information. The 2022 version of Form W-4, “Employee’s Withholding Certificate,” is used to tell an employer how much to withhold from paychecks. You may want to adjust your withheld amounts to reflect life changes that occurred in the past year. Some of these events include marriage,…