It’s July and the New Year’s resolutions you made have probably been long forgotten. But it is not too late to make changes to hit your goals for 2017. During the slower summer season it is a great time to reflect on how the year has been going so far and correct course for the rest of 2017. This is especially true for financial goals. I can help you see how 2017 has been so far and help you figure out what to do to get the most out of the rest of the year, whether it is to maximize retirement savings, pay down debt, or improve your company’s profitability. Contact me to set up a mid year review: http://bit.ly/2ksBpWT
This message is to remind you of two important upcoming tax deadlines:
January 15 is the deadline for the fourth and final estimated tax payment for 2014. Make sure your estimated payment is postmarked by the 15th. You might want to send it certified return receipt to be sure of when it arrives.
1099-MISC forms are due to contractors by January 31. They are due to the IRS by February 28 for paper filing or March 31 for electronic filing. For more information on who needs to receive a 1099-MISC please refer to this post.
It sure costs a ton to raise kids these days. That’s why I want to make sure parents take advantage of the tax credits they might be able to claim.
Child tax credit
Get up to $1,000 in tax credits for a child under 17 who lived with you for more than half the year and you claim as a dependent. Phase outs, or reductions of the credit, start at $75,000 for single, $110,000 for married filing jointly, and $55,000 for married filing separately.
Child and dependent care credit
Get tax credits for a percentage of child or dependent care expenses paid in order for you and your spouse to work, or look for work. Children must be under 13 and you must have earned income (wages, business income, self employment income) to claim the credit. Examples of these kinds of expenses are day care, before or after school care, and day camp.
I am happy to announce that I have passed the certification test for QuickBooks 2013! By passing this certification test I am now eligible to take the QuickBooks Advanced Certification! I’m excited to start that process! You can access my QuickBooks ProAdvisor profile here.