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Tag: penalties

How the Health Care Law Affects Your 2014 Taxes

The Affordable Care Act has some provisions that affect your 2014 tax return. For many, it means simply checking a box on their return to report health care coverage for themselves and their dependents for 2014. Some might report being eligible for an exemption. Others will need to ca...  Read More

Why Not to Pull Money Out of Retirement Accounts Early

Hopefully, you have been doing the responsible thing and putting away a nice little nest egg in retirement plans such as pensions, profit sharing plans and individual retirement accounts (IRAs). If you did, resist the urge to take money out of those accounts before your turn 59½. For...  Read More

When You Need To File a 1099 For a Vendor Or Contractor

I regularly get questions about whether or not to file 1099s.  They are often surprised that more vendors and contractors need 1099s than they think. The list goes well beyond a freelancer you hire or a subcontractor you use. In general, 1099s are required for payments over $600 made...  Read More

2013 Forth Quarter Estimated Tax Payment Due Jan 15, 2014

If you owe taxes for 2013 this is your last chance to make an estimated payment.  Make tax payment for 2013 by Thursday Jan 15, 2014!...  Read More

FBAR TD 90-22.1 Form Due June 30, 2013

The filing deadline for Form TD 90-22.1 is June 30, 2013. You can find the form here. Don’t forget- there are no extensions for this form. Not sure if you need to file? Check out my post explaining the FBAR....  Read More

Report of Foreign Bank and Financial Accounts FBAR Form TDF 90-22.1

What Is the FBAR? FBAR (Report of Foreign Bank and Financial Accounts) is required filing to report foreign bank account information.  This information is reported to the Department of the Treasury on Form TD F 90-22.1, which can be found here.  These forms are due on June 30 and ther...  Read More

2012 Individual, Partnership, LLC, and Trust returns are due April 15, 2013

The tax filing deadline for individuals (Form 1040), partnerships and LLCs (Form 1065), and trusts (Form 1041) is next Monday, April 15, 2013. If you have not started your tax return yet you might want to consider filing an extension form. Individuals file Form 4868, and partnerships,...  Read More

2012 Fourth Quarter Estimated Payments 1040-ES

If you make quarterly estimated payments, the fourth payment for 2012 is due today, January 15, 2013.  If you need a voucher and instructions for filing estimated tax payments they can be downloaded from the IRS website here.  Filing estimated tax payments helps you avoid those late p...  Read More