March, 2014
After a quarter of silence, here’s a new newsletter. I’ve been around and working, although I did take a small vacation in early February (so few people in Yosemite mid-week!). But I don’t really have an excuse. In the interim, I’ve had two articles published in a peer-reviewed California Enrolled Agent magazine.
In the January/February 2014 issue, they published my article about Payroll for Apartment Managers http://www.csea.org/members-area/publications/jan_feb_2014/ on page 16.
In the March/April 2014 issue, they published my article about S Corporations with Health Insurance http://www.csea.org/members-area/publications/march_april_2014/ pages 20-21.
The good news is that apparently I know how to spell hiatus without looking it up!
Due Dates: 1120, 1120S and personal returns
Corporate tax returns are due Monday, March 17th, or you need to be on extension. If you are not a calendar year corporation (most are) the due date is different. Yep, it’s a month earlier than the date everyone knows and loves, April 15th. I’m working on finishing up some corporate returns, putting others on extension, and fitting in personal returns in the gaps. If you need me to put you on extension, I charge an extension fee of $100 (if you have your materials to me for the most part, but I can’t get your return done and I put you on extension, then no extension fee). No, I can’t just answer one quick question about extensions, it’s not fair to the people who are paying the fee, and it’s not quick.
Classes – IRS Education Provider, Basic Payroll, Schedule C
Here’s a link to the seminars page on my website: www.taxbuddha.com/seminars.html
I’m an official Education Provider. You can find my name (Tax Buddha) listed at the IRS website: https://ssl.kinsail.com/partners/irs/publicListing.asp where you’ll see I’m qualified to provide federal tax update and federal tax classes for EA’s and RTRP’s. (I just knew I should have used the name AAAAA Tax Buddha!)
Basic Payroll
In conjunction with the IRS and EDD, I’m going to be doing some Basic
Payroll seminars coming up in the near future. We don’t cover wages for apartment managers.
Basic Payroll Seminar runs 9 am 3 pm with an hour for lunch
The next seminar will be:
San Francisco at the SBA office 455 Market Street, 6th floor
(I take BART to Embarcadero or Montgomery Street)
Tuesday, June3, 9:00 am – 3:00 pm
Register by going to http://www.edd.ca.gov/Payroll_Tax_Seminars/ and find your favorite location.
These seminars have proven to be very popular for business owners and bookkeepers, plus they’re free.
How to Prepare your Own Schedule C
Get ready for next year and filing your own Schedule C for last year. Review what the IRS wants to know from you and how to report it for your business. This is a class for business owners who need a basic understanding of their 1040 Schedule C tax forms. We’ll also talk about what to do with the numbers once you have them. We can’t guarantee you won’t get audited, but this class will make it less likely.
I will be at the US SBA office in San Francisco at 455 Market Street, 6th Floor.
Tuesday, May 20, 6:00 pm – 8:30 pm
The Eightfold Path to Pay Less Tax and Avoid an Audit
Eight basic things business owners want to know printed in a booklet in “executive summary” form. This is ten years of working with the IRS Tax Code distilled down so it doesn’t take YOU ten years.
Just another way we’re trying to simplify your life. And the purchase is tax deductible!
You can order from Amazon.com. Here’s the link to Amazon: http://www.amazon.com/Eightfold-Path-Less-Avoid-Audit/dp/0615233422/ref=sr_1_22?ie=UTF8&s=books&qid=1226611038&sr=1-22
The booklet also contains sections on how returns are selected for audit,
when to seek professional help, and how long to keep your tax records.
Little Box of Inc: Incorporations Made Easy published on Kindle
The book with tips about how the S Corporation works is now published to Amazon’s Kindle, updated with additional information about S Corporations, and can be found by searching for Andrew S Rogers as author, and click on “Kindle.” Here’s the blurb:
Considering incorporating as an S Corporation? This booklet will help you understand how the S Corporation works, what you need to do to become incorporated and what you need to do once you have a corporation to stay out of trouble. The structure and the requirements are reviewed, as well as helpful tips to use your corporation to reduce your tax liability and retain your status as an S Corporation. I’ve worked with S Corporations for many years, and as a tax preparer, I can choose the kind of entity I have for my business: I choose the S Corporation myself, and I’ve convinced many of my fellow tax preparers to incorporate as well. I’ve divided the information into clear, easy-to-understand topics, and cross-referenced sections when it might be helpful.
After you’ve read this material, you can view on-line videos via YouTube.com for free to access more advanced information about S Corporations. You may also be interested in my “Choice of Entity” class – see below.
Want to be the first person in your tax bracket to sport the fabulous Tax
Buddha Messenger Bag? I’ve now got a “shop” on Café Press
at www.cafepress.com/TaxBuddha in
case you’d like to order your own
Tax Buddha logo items. The messenger bag came out particularly well, not
quite “saffron,” but easy to find in an airport.
Our northern California occasional in Alameda:
1516 Oak Street, Suite 109
Alameda CA 94501
Phone numbers are:
Phone (510) 332-0401
Fax (925) 478-2726
“You too can be enlightened about tax” — Tax Buddha