August 1 - Certain Small Employers Deposit any undeposited tax if your tax liability is $2,500 or more for 2011 but less than $2,500 for the second quarter. August 1 - All Employers If you maintain an employee benefit plan, such as a pension, profit-sharing, or stock bonus plan, file Form 5500 or 5500-EZ for calendar year 2011. Normally, this form is … [Read more...] about Due Date Reminders – Business – August’2011
Small Business
Business Due Dates – July 2011
July 1 - Self-Employed Individuals with Pension Plans If you have a pension or profit-sharing plan, you may need to file a Form 5500 or 5500-EZ for calendar year 2010. Even though the forms do not need to be filed until August 1, you should contact this office now to see if you have a filing requirement and if you do allow time to prepare the return. July 15 - Social … [Read more...] about Business Due Dates – July 2011
Are You Missing Out On the Research Credit?
The Internal Revenue Code (Sec 41) provides a tax credit of up to 20% of qualified expenditures for businesses that develop, design or improve products, processes, techniques, formulas or software and similar activities. The credit has been available off and on since 1981 and has never been made permanent by Congress. It has been extended several times and is currently … [Read more...] about Are You Missing Out On the Research Credit?
Due Date Reminders – Business – June 2011
June 15 - Employer’s Monthly Deposit Due If you are an employer and the monthly deposit rules apply, June 15 is the due date for you to make your deposit of Social Security, Medicare and withheld income tax for May 2011. This is also the due date for the non-payroll withholding deposit for May 2011 if the monthly deposit rule applies. June 15 - Corporations Deposit the … [Read more...] about Due Date Reminders – Business – June 2011
Can You Write Off a Bad Debt?
Most small businesses have receivables that cannot be collected. These receivables can be from the sale of products, providing services to customers, or a combination of the two. Whether or not a bad debt deduction will apply generally depends upon which accounting method is used (either the cash or accrual method). Why does this make a difference? Let’s look at what … [Read more...] about Can You Write Off a Bad Debt?