February 1 - Tax Appointment If you don’t already have an appointment scheduled with this office, you should call to make an appointment that is convenient for you. February 11 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during January, you are required to report them to your employer on IRS Form 4070 no later than … [Read more...] about February 2013 Individual Due Dates
Personal Tax
What to Do If You Are Missing a W-2
Have you received all of your W-2s? These documents are essential for completing individual tax returns. You should receive a Form W-2, Wage and Tax Statement, from all of your employers each year. Employers have until January 31st to provide or send you a 2012 W-2 earnings statement, either electronically or in paper form. If you have not received your W-2, follow these … [Read more...] about What to Do If You Are Missing a W-2
Revising Your W-4? Seek Professional Advice.
This time of the year, many employers will request from their employees updated W-4 forms (and the equivalent state form for those who live in a state with income tax). The W-4 form allows you to specify your filing status and the number of dependent exemptions to be used for figuring the amount of income tax to be withheld from your pay. Even though the IRS provides an … [Read more...] about Revising Your W-4? Seek Professional Advice.
Prepared for the New Surtax?
As part of Obama Care, we have a new tax beginning in 2013. The official name of this tax is the “Unearned Income Medicare Contribution Tax,” and even though the name implies it is a contribution, don’t get the idea you deduct it as a charitable contribution. It is, in actuality, a surtax levied on the net investment income of higher-income taxpayers. The surtax is 3.8% on … [Read more...] about Prepared for the New Surtax?
Don’t Forget to Report Those Foreign Financial Assets!
Don’t overlook the requirement for any individual who holds any interest in a “specified foreign financial asset” during the tax year to complete and attach Form 8938 to his or her income tax return if a certain reporting threshold is met. The reporting threshold varies, depending on whether or not the individual lives in the U.S. and files a joint return with his or her … [Read more...] about Don’t Forget to Report Those Foreign Financial Assets!