If you are self-employed, the IRS wants you to know about a tax deduction generally available to people who are self-employed. The deduction is for medical, dental or long-term care insurance premiums that self-employed people often pay for themselves, their spouse and their dependents. The insurance can also cover your child who was under age [...]
Archive for category Limited Liability Company
Here are some things to consider when starting a business: Type of Business One of the first decisions you need to make is what type of business you are going to establish. The most common types of businesses are sole proprietorship, partnership, corporation, S corporation, and Limited Liability Company. The type of business you establish determines [...]
Mark Your Calendar . . .
Aug 25
SEPTEMBER 15 — Due date for individuals to pay third quarter installment of 2011 estimated tax. 15 — Deadline for filing extended 2010 tax returns for calendar-year corporations. 15 — Deadline for filing extended 2010 partnership and limited liability company returns. OCTOBER 3 — Deadline for businesses to adopt a SIMPLE retirement plan for 2011. 17 — Filing deadline for [...]
Mark Your Calendar…
May 18
JUNE 15 — Second quarter 2011 individual estimated tax is due. 15 — Second quarter 2011 estimated tax is due for calendar-year corporations. AUGUST 1 — 2010 retirement and employee benefit plan returns are due for calendar-year plans. SEPTEMBER 15 — Third quarter 2011 individual estimated tax is due. 15 — Third quarter 2011 estimated tax is due [...]
WASHINGTON — The Internal Revenue Service today announced that interest rates for the calendar quarter beginning July 1, 2011, will remain the same as in the previous quarter. The rates will be: four (4) percent for overpayments [three (3) percent in the case of a corporation]; four (4) percent for underpayments; six (6) percent for [...]
WASHINGTON –– Hiding income in offshore accounts, identity theft, return preparer fraud, and filing false or misleading tax forms top the annual list of “dirty dozen” tax scams in 2011, the Internal Revenue Service announced today. “The Dirty Dozen represents the worst of the worst tax scams,” IRS Commissioner Doug Shulman said. “Don’t fall prey [...]
Mark Your Calendar…
Feb 21
MARCH 15 — Deadline for calendar-year corporations to elect S corporation status for 2011. 15 — Deadline for filing 2010 tax returns for calendar-year corporations. 31 — Deadline for payers who file electronically to file 2010 information returns (such as 1099s) with the IRS. 31 — Deadline for employers who file electronically to send copies of 2010 W-2s to the [...]
