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
Use QuickBooks’ Tools — and Common Sense Procedures — To Prevent Financial Fraud
You work hard for your money. Strong internal controls can keep it from disappearing unnecessarily. You trust your employees or you wouldn’t have hired them. That’s what everyone says as they watch a valued staff member being hauled off in handcuffs. But I trusted him. Whether your accounting tasks are done on one PC or you have multiple users working on different screens, … [Read more...] about Use QuickBooks’ Tools — and Common Sense Procedures — To Prevent Financial Fraud
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?