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Tag Archive for Estimated Tax Payments

Important Tax Dates and Tax Payments, Tax Season Begins (January 2016)

TaxConnections Member Barry Fowler
Individual Due Dates

January 4 – Time to Call For Your Tax Appointment –

January is the beginning of tax season. If you have not made an appointment to have your taxes prepared, we encourage you do so before the calendar becomes too crowded.

January 11 – Report Tips to Employer –

If you are an employee who works for tips and received more than $20 in tips during December, you are required to report them to your employer on IRS Form 4070 no later than January 11.

January 15 – Individual Estimated Tax Payment Due –

It’s time to make your fourth quarter estimated tax installment payment for the 2015 tax year.

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15 Best Year End Tax Tips To Activate Before Midnight December 31st

TaxConnections Member John Dundon

The 15 Best Year End Tax Tips To Activate Before Midnight December 31st are as follows:

1. You may want to pay contested taxes to be able to deduct them this year while continuing to contest them.

2. You may want to settle an insurance or damage claim in order to maximize your casualty loss deduction.

3. Give generously to both family and friends. Rich families stay rich by aggressively giving their money away to members in their clan. Remember you cannot take it with you when you go.

4. Make gifts sheltered by the annual gift tax exclusion before the end of the year to save gift and estate taxes. The exclusion applies to gifts of up to $14,000 made in 2015 to each of an unlimited number of individuals. Read more

6 Tips On Making Estimated Tax Payments

If you don’t have taxes withheld from your pay, or you don’t have enough tax withheld, then you may need to make estimated tax payments. If you’re self-employed you normally have to pay your taxes this way.

Here are six tips you should know about estimated taxes:

1. You should pay estimated taxes in 2014 if you expect to owe $1,000 or more when you file your federal tax return. Special rules apply to farmers and fishermen.

2. Estimate the amount of income you expect to receive for the year to determine the amount of taxes you may owe. Make sure that you take into account any tax deductions and credits that you will be eligible to claim. Life changes during the year, such as a Read more

Estimated Tax Payments Due June 16th!! Don’t Forget!

Tips On Making Estimated Tax Payments

If you don’t have taxes withheld from your pay, or you don’t have enough tax withheld, then you may need to make estimated tax payments. If you’re self-employed you normally have to pay your taxes this way.

Here are six tips you should know about estimated taxes:

1. You should pay estimated taxes in 2014 if you expect to owe $1,000 or more when you file your federal tax return. Special rules apply to farmers and fishermen.

2. Estimate the amount of income you expect to receive for the year to determine the Read more

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