June 2019
Have you filed your federal tax return and then discovered a mistake? You might need to file an amended tax return. Then again, you might not.
If you've ever used--or provided services for--Uber, Lyft, Airbnb, or Etsy, then you're a member of the sharing economy and it could affect your taxes. 
Choosing a legal entity is one of the most important decisions you'll ever make as a small business owner. Here's what you need to know.
               

Tax Due Dates

June 10

Employees who work for tips - If you received $20 or more in tips during May, report them to your employer. You can use Form 4070.

June 17

Individuals - If you are a U.S. citizen or resident alien living and working (or on military duty) outside the United States and Puerto Rico, file Form 1040 and pay any tax, interest, and penalties due. U.S. citizens living in the U.S. should have paid their taxes on April 15. If you want additional time to file your return, file Form 4868 to obtain 4 additional months to file. Then file Form 1040 by October 15. However, if you are a participant in a combat zone, you may be able to further extend the filing deadline.

Individuals - Make a payment of your 2019 estimated tax if you are not paying your income tax for the year through withholding (or will not pay enough tax that way). Use Form 1040-ES. This is the second installment date for estimated tax in 2019.

Corporations - Deposit the second installment of estimated income tax for 2019. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.

Employers - Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in May.

Employers - Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in May.
IN THIS ISSUE
Tax Tips
QuickBooks Tips

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Dawson & Associates...Your business is our business. Whether you are starting a new venture or growing your current business, our goal is to help you achieve your goals. Consider us an adjunct to your accounting department, filling in the gaps and lending expertise when you need it. You receive the highest quality service but only pay for what you need. Contact us today at 818 379.9800 to find out how we can help you grow your business.

 

Sincerely,
Linda Dawson 
Dawson & Associates
Dawson & Associates | 818 379-9800 | team@dawsoncpa.com | http://www.dawsoncpa.com
16027 Ventura Boulevard Suite 501
Encino, CA 91436

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