Archive for June, 2013

U.S. Tax Revenue for 2012

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US Income for TY2012

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Incorporate your business to get tax breaks.

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In the eyes of many small business owners, the corporate world is the realm of massive conglomerates such as Microsoft and General Motors. To be successful and hold the line financially, however, tax experts agree that even the smallest of businesses may benefit by incorporating.

An S corporation, as defined by the Internal Revenue Service, must be a domestic corporation that consists of no more than 100 “allowable shareholders” — including individuals, certain trusts and estates. It may not include partnerships, ...

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When are my estimated tax payments due?

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When are my estimated taxes due?

Never accused of oversimplifying things, the IRS doesn’t break the tax year into four three-month quarters. The first quarter is three months (January 1 to March 31), but the second “quarter” is two months long (April 1 to May 31), the third is three months (June 1 to August 31) and the fourth covers the final four months of the year.

The installment payments are due on April 15, June 15, September 15 and January 15 ...

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How to calculate estimated tax payments

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How do I calculate my estimated taxes?

In most cases, you must make estimated tax payments if you expect to owe $1,000 or more in taxes for the year—over and above the amount withheld from your wages. In some cases, though, the $1,000 trigger point doesn’t matter.

  • If your prior year Adjusted Gross Income was $150,000 or less, then you can avoid a penalty if you pay either 90 percent of this year’s income tax liability or 100 percent of your income ...
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Texas Workforce Commission Due Dates

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TWC Tax Report/Remittance Due Dates
and
Mailing Instructions

Due Dates for Employers’ Quarterly Report and Remittance:

For Wages Paid During Calendar Qtr. Ends Due Must be Filed/Paid By
Jan, Feb, Mar March 31 April 1 April 30
Apr, May, Jun June 30 July 1 July 31
Jul, Aug, Sep September 30 October 1 October 31
Oct, Nov, Dec December 31 January 1 January 31

Due Dates for Annual Domestic Employer’s Report and Remittance:

Quarterly reports and taxes become due on January 1 and are required to be reported and paid no ...

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