May 2018
With the price of Bitcoin hitting record highs in 2017, many Bitcoin holders cashed out not realizing the impact it could have on their tax bill. If you were one of them, here's what you need to know.
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Haven't filed a 2017 tax return yet? Don't worry; it's not too late--and it may be easier than you think.
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If you've decided to sell your business, you may be looking forward to lazy days ahead with plenty of cash on hand. The reality, however, is without a tax planning strategy in place you could be liable for capital gains and other taxes related to the sale of your business that leaves you with far less cash than you anticipated.
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If you're like most small business owners, you probably feel like your tax bill is too high. Here are five ways that could help you save money on your taxes.
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Many of the tax provisions under tax reform were favorable to small business owners including those relating to using a car for business.
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TAX DUE DATES

May 10

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

Employers - Social Security, Medicare, and withheld income tax. File Form 941 for the first quarter of 2018. This due date applies only if you deposited the tax for the quarter in full and on time.

May 15

Employers - Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in April.
Employers - Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in April.

IN THIS ISSUE
Tax Tips

QuickBooks Tips

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16027 Ventura Boulevard Suite 501
Encino, CA 91436
Dawson & Associates, 16027 Ventura Boulevard  Suite 501, Encino, CA 91436
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