September 2019
If you owe money to the IRS and are wondering if an offer in compromise is the answer, here's what you need to know.
Keeping full and accurate homeowner records is not only vital for claiming deductions on your tax return, but also for determining the basis or adjusted basis of your home.
Adjusting your tax withholding now could help you avoid an unexpected tax bill next spring.
               
The SIMPLE IRA Plan is an excellent retirement plan option for small business that is easy to set up and inexpensive to manage.

Tax Due Dates

 September 10

Employees Who Work for Tips - If you received $20 or more in tips during August, report them to your employer. You can use Form 4070.

 September 16

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 in enough tax that way). Use Form 1040-ES. This is the third installment date for estimated tax in 2019.
Partnerships - File a 2018 calendar year income tax return (Form 1065). This due date applies only if you were given an additional 6-month extension. Provide each shareholder with a copy of Schedule K-1 (Form 1065) or a substitute Schedule K-1.
S corporations - File a 2018 calendar year income tax return (Form 1120S) and pay any tax due. This due date applies only if you made a timely request for an automatic 6-month extension. Provide each shareholder with a copy of Schedule K-1 (Form 1120S) or a substitute Schedule K-1.
Corporations - Deposit the third installment of estimated income tax for 2019. A worksheet, Form 1120-W, is available to help you make an estimate of your tax for the year.
Employers - Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in August.
Employers - Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in August.
IN THIS ISSUE
Tax Tips
QuickBooks Tips

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