June, 2014
For individuals who owe estimated payments, the second payment for 2014 is due June 16. You’d expect July 15th after the end of the second quarter, but I believe the end of the government fiscal year is June 30 and if you get your payment in now, then will have the money to spend on important government programs for the current fiscal year. The amount due is based on what you owed for 2013, but if you’re making a ton more money in 2014, we can adjust your payment amount up. Also, if you’re making a lot less, let me know this as well; we can adjust your payment down.
For corporations, the second quarter payment is also due June 16. If you have a corporation and you’re making money, you probably have to make payments for the corp AND yourself!
The tax system is “pay as you go” so you make the income tax payments as you are earning the money, not later when we file the returns.
Classes – Basic Payroll and Schedule C
Here’s a link to the seminars page on my website: www.taxbuddha.com/seminars.html
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 seminars will be:
San Rafael Contact me for an address if you’re interested, or sign up (see link below).
Wednesday, June 18, 9:00 am – 3:00 pm
San Francisco at the SBA office 455 Market Street, 6th floor
(I take BART to Embarcadero or Montgomery Street)
Thursday, September 11, 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, August 26, 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