December 16 Calendar-year corporations: Pay the fourth installment of 2024 estimated income taxes, completing Form 1120-W for the corporation’s records. Employers: Deposit Social Security, Medicare and withheld income taxes for November if the monthly deposit rule applies. Employers: Deposit nonpayroll withheld income tax for November if the monthly deposit rule applies. January 10 Individuals: Report December 2024 tip income […]
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Rental Property Start Up Expenses and More…
New FinCEN Filings Go into Effect on January 1 For existing businesses, the Corporate Transparency Act (CTA) goes into effect on January 1, 2024, and imposes a brand-new federal filing requirement on most corporations, limited liability companies, and limited partnerships and on certain other business entities. No later than December 31, 2024, all non-exempt business […]
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2023 Last-Minute Year End Tax Tips
Last-Minute Year-End General Business Income Tax Deductions The purpose of this article is to reveal how you can get the IRS to owe you money. Of course, the IRS will not likely cut you a check for this money (although in the right circumstances, that will happen), but you’ll realize the cash when you pay […]