September 1, 2012
Summer is coming to a close, and the end of summer is a good time to start thinking about getting your tax information together. Before you know it, year end will be here, which can leave you scrambling to get organized. Starting a little early will help ensure that you are prepared—avoiding the all-too-familiar last minute cram session that can cause disruption and stress in your personal and business lives. Starting now means you can pace yourself. Begin with the small stuff:
Getting prepared early will benefit you come tax time.
We certainly hope you have had an enjoyable summer so far. And remember, we are always here to help. If you have any questions, please give us a call.
People do lots of things during the summer—take vacations, grill in the backyard, attend ball games and go to the beach, among other pursuits.
Businesses with multiple owners generally benefit from a variety of viewpoints, diverse experience and strategic areas of specialization. However, there’s a major risk: the company can be thrown into tumult if one of the owners decides, or is compelled by circumstances, to leave.
The next quarterly estimated tax payment deadline is June 15 for individuals and businesses so it’s a good time to review the rules for computing corporate federal estimated payments. You want your business to pay the minimum amount of estimated taxes without triggering the penalty for underpayment of estimated tax.