This is just a reminder: if you have a calendar year C Corporation or an S Corporation, your tax return is due on March 16, 2015 (usually March 15, but this year that is Sunday, so they give you until Monday.) Now you don’t have to freak out if you (or your tax preparer) hasn’t gotten things together yet. You can file a six month extension to file until September 15. Just remember if you owe any corporation taxes, there is no extension to pay these. You will have to estimate what taxes are due and pay by EFTPS (if federal) and either by ETF or check if the state (check with your state for payment options.) Well, at least you have a little more time to file things. For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Android and the IPhone: Has been Featured On https://twitter.com/bstonercpa
CPA Tax Musings: Education Tax Credits-Two Benefits to Help Pay for College
If you have kids going to college or you or your spouse is going for a degree, there are two education tax credits that can really help you recoup some of those education costs with reduced credits. http://content.govdelivery.com/accounts/USIRS/bulletins/f4e525?reqfrom=share The American Opportunity Credit is a better credit than the Lifetime Learning Credit in that up to $1000 of that credit is actually refundable, while none of the Lifetime Learning Credit is refundable, plus there is an extra $500 of credit from the American Opportunity Credit. Either credit will help you pay some of your college expenses, though. For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Android and the IPhone: Has been Featured On https://twitter.com/bstonercpa
Tax Musings of a Burbank CPA: Five Key Facts about Unemployment Benefits
If you were unemployed last year you probably got unemployment benefits from your state or other locality. See this IRS tip about unemployment benefits: http://content.govdelivery.com/accounts/USIRS/bulletins/f4e36c?reqfrom=share The two most important things are that the benefits are federally taxable (usually not state taxable) and you can elect to have federal income tax withheld from the benefits. This is important if you are still on unemployment benefits in the current year and want to avoid owing income taxes at this time next year. For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Android and the IPhone: Has been Featured On https://twitter.com/bstonercpa