But if you must make estimated tax payments, you need to take a break from your fun in the sun and send in your second Form 1040-ES for tax year 2013.
Click image to access the PDF version of Form 1040-ES, including all vouchers and instructions. You can pay estimated taxes via credit or debit card, electronic funds withdrawal or using the IRS' Electronic Federal Tax Payment System (EFTPS). If you prefer, however, to write a paper check or money order and mail it to the Internal Revenue Service, make sure you send it to the correct processing office.
Since most of us already figured out how much estimated tax we need to pay each quarter when we filed our first 1040-ES back in April, this June payment shouldn't take too long. Remember, the sooner you take care of this tax task, the sooner you'll get back to enjoying your summer break. Sports, gambling and taxes -- Sports offer gamblers myriad ways to place bets, including the growing online fantasy sports games. OK, some about Kay Kay Bell -- Native Texan (the blog title totally makes sense now, right?). Find out more about my book, read excerpts, even listen to a podcast at the FT Press Truth About Paying Fewer Taxes Web page.
This work is licensed under a Creative Commons Attribution, NonCommercial, NoDerivs 2.5 License.
Last week I signed onto the Electronic Federal Tax Payment System, known in acronym-speak as EFTPS (eff-tips), and authorized our third quarter estimated tax payment to be made by our bank on Sept. I've used EFTPS for eight years and although there were some early bumps, I'm pretty happy with the system. You can go to the EFTPS website and get started, but it will take about a week before you can use it. There's no such hurdle, however, if you want to directly pay your estimated tax bill -- and other Internal Revenue Service obligations -- via the agency's new Direct Pay option. And also like EFTPS, Direct Pay will take money from your designated checking or savings account to cover your tax bill.
The Direct Pay differences are appealing enough that since its launch earlier this year, the e-payment system has processed more than one million payments from individual taxpayers totaling more than $1.7 billion. It's a good choice if you want to e-pay your third quarter estimated tax payment that's due this coming Monday.
It's also is an option if you, like the hubby and me, got a 2013 tax return filing extension until Oct. Paying directly: To use Direct Pay, you'll need to provide your tax information, verify your identity, enter your payment information, provide an electronic signature, and review and record your online confirmation.
For folks who are uneasy about Uncle Sam having your bank account data, the IRS says it does not keep the Direct Pay financial information in its systems after the cash is transferred.
Other tax payment options: If neither EFTPS nor Direct Pay appeals to you, the IRS offers other payment options for your impending estimated and other tax payments throughout the year. Now that you know how to get your estimated tax payment to the IRS, all you have to do is figure out just how much you've got to send! For filers who do their taxes the old fashioned way, the tax filing season began a couple of weeks ago -- as long as they had all the necessary 2011 statements to fill out their paper forms.
Miranda Marquit notes that some in some cases, folks might be surprised at how much they made or they received a windfall upon which they now owe taxes.
Trishmc says we've probably heard the commercials in which one of the national chains offers to prepare taxes for free if you can use the 1040EZ. Kristine McKinley looks at one of them in Online Business Owners Prepare for IRS Form 1099-K, posted at Ebiz Tax Tips. Philip Taylor presents a rundown of the 2011 tax brackets to help with tax planning calculations in What Is My Federal Income Tax Bracket? Adam points out that the IRS allows as a deduction from your income the lesser of $2,500 or the actual amount of interest you pay on student loans. John presents Helpful Tips for Tax Season 2012, a collection of ways to get safely through the 2012 tax season. Janet says the Canada Revenue Agency (CRA) recently released information that scammers are trying to trick filers by using the agency's name. Young and Thrifty shares some CRA tax information for Canadians working from home, specifically when it comes to deductions from blogging income.
Let's pop over to a place with tax news in the same language (sort of) but on a different continent.
Forest Parks notes that states are getting ever more creative in collecting tax, but they might be going a bit far. Barbara Friedberg raises a question many future retirees ask: Since both the Roth IRA and a 401(K) both offer tax deferred investing, which should you pick if you can't invest in both? Join us then as a reader or as part of the tax fun by sending your tax post (and tax-only items please; check the guidelines for details) to the Blog Carnival page. The average federal tax rate of the top 2.8 percent is more than double (in some cases triple) the middle class, and they are paying 50.2 percent of the federal income taxes paid! How will it get exposure when the means by which that would happen is an interested party- to put it lightly. Unfortunately, to a true radical liberal, the rich will never pay enough, at least until it makes them poor.   Lotsa luck getting a job from them then (assuming that they want one).
QuickBooks Self-Employed offers simplified income and expense management for small business owners who commingle business and personal accounts and need to pay quarterly taxes. QuickBooks Online Self-Employed is a thinned-down version of QuickBooks Online with a very specific focus: Sole proprietors and small business owners who mix business and personal accounts, who pay quarterly taxes, and who need to do quick triage on business and personal income and expenses. QuickBooks Online Self-Employed is small business focused, which is to say that ita€™s aimed at business owners who are sole proprietors or LLC owners without partners, and who write off business expenses using a Schedule C when filing their personal taxes. QuickBooks Online Self-Employed offers a slimmed-down set of features to simplify separating your personal expenses from your business expenses. To begin using QuickBooks Online Self-Employed you first need to link the bank and credit card accounts you want the application to track. The QuickBooks Self-Employed iOS app makes quick work of separating your personal expenses from your business expenses. The fun begins once categorization is complete, as thata€™s when you split your expenses into two piles, one for business expenses and the other for personal expenses.


Once youa€™ve split your transactions into personal and business expenses, QuickBooks Online Self-Employed hides your personal expenses and only displays your business information.
QuickBooks Self-Employed provides you with simple tools for viewing your tax liabilities and for printing your 1040-ES. The software has a nice tool for tracking mileage so that you get a proper deduction on your taxes.
What QuickBooks Online Self-Employed does quite well is help you take the guesswork out of determining how much actual income youa€™re making throughout the year.
Simple graphs provide clarity on what you're spending and how much your business has actually made. As anyone owning a business knows, therea€™s nothing worse than calculating your taxes at the end of the year, only to discover that, not only do you owe a fair amount of money to the IRS, but, in addition, you also have to pay the IRS penalties because you should have been paying quarterly estimated taxes throughout the year. When it's time to pay quarterly taxes, QuickBooks Self-Employed automatically enters information into your 1040-ES so you can print and send it to the IRS.
QuickBooks Online Self-Employed lacks some features Ia€™d like to see, chief of which is some kind of tool for creating invoices or digital receipts. QuickBooks Online Self-Employed is an intersting application with a very specific type of user in mind. 1099 form printable free 1099 form printable free Be sure and investigate deductions and offsets before filing, because you might be surprised how much you qualify for. April 15th 2014, or the 2013 tax filing due date, is not that far away which means its time to do some serious tax planning so that by year end you maximize. Income tax headlines our latest federal and state income tax blog posts and web page updates from our rss feed 2015 state income tax due dates state income tax. The federal income tax is a marginal income tax collected by the internal revenue service (irs) on most types of personal and business income. The tax policy blog is the official blog of the tax foundation a nonpartisan nonprofit research organization that has monitored tax policy at the federal state. Copyright © 2015 World Economic News, All trademarks are the property of the respective trademark owners. Now I just have to make sure I have the money in my account before Uncle Sam electronically collects it! Postal Service to send in your 1040-ES, remember to get it in the outgoing box in time for it to postmarked June 17. You also can get a refresher of the Daily Tax Tips posted earlier this year on their respective filing season monthly pages: January, February, March and April, or at their handy (and funny photo- and GIF-filled) daily tip roundups. So if you haven't yet made your storm and financial preparations for any type of disaster, do so now. One of the biggest complaints is that it takes some time for the account to be operational.
You can't access your account until you get a PIN, which is mailed to you in five to seven days. As for other time-sensitive issues, Direct Pay is available 24 hours a day, seven days a week, and you can schedule payments 30 days in advance. Depending on which piece of plastic and which IRS-approved payment company you use, it could be a flat fee of a few dollars or a percentage of your tax bill. Postal Service or an approved private delivery service, you can wait until Monday to mail your payment.
Just check with the nearest Taxpayer Assistance Center to make sure it accepts such payments before you head out to the office. Tax Carnival #95: Tax Filing Season 2012 looks at some of the issues taxpayers might encounter.
You'll find more on this tax-saving option at Examining the student loan interest deduction, posted at Tax On Tax Off. Even though 2011 has passed, says Glen, there is still time to make some moves that will give you a tax deduction and lower your taxes. Scanlon presents The Difference Between an LLC and a Subchapter S Corporation, including how taxes are treated in both entities. The Government Accountability Office reported that 53 percent of taxpayers with rental real estate misreport when they file their tax returns. No, I'm not talking about psychiatric sessions, although tax pros often act as therapists. Take Column N (Total Income Tax) divided by Column J (Taxable Income) for any range or combination of ranges you choose.
That’s a LOT of work just to prove that the Democrats lie on this huge, costly issue. I was always a true believer in the political system and volunteered untold hours on political campaigns.
QuickBooks Online Self-Employed performs its magic with the combination of a Web app and an iOS app and makes it easy to quickly separate your business and personal expenses. The assumption on Intuita€™s part is that the people who own these types of businesses often have a commingling of business and personal credit card and bank accounts and that it is often difficult using traditional accounting applications to quickly and easily separate business expenses from personal expenses.
Adding accounts is simple: Use the search field to find your bank, enter your login information, then select the accounts you want to use. First, you need to categorize your expenses, just like you would in a desktop financial application.
Graphs display your business income and expenses and provide information on your estimated quarterly tax payments. Using the Web app, you add trips and the miles youa€™ve travelled and QuickBooks Online Self-Employed uses whatever the current IRS mileage rate is to calculate your deduction. By taking your income and reducing that number by how much youa€™ve had to spend and how much you expect to pay in taxes, you can easily see how much money youa€™ve actually made in real, spendable income on a biweekly, monthly, quarterly, and yearly basis.
QuickBooks Online Self-Employed keeps track of how how much you should be paying in quarterly taxes, warns you in advance of when the taxes are due, and automatically enters information into your 1040-ES so you can print it and send it with a check to the IRS. I dona€™t expect the application to be a full-fledged accounting tool for smaller businessesa€”ita€™s definitely more Quicken on steroids than a trimmed-down QuickBooks. If youa€™re a sole proprietor or small business owner who doesna€™t have to file a separate set of tax forms for your business, and you commingle your personal and business income in the same checking and credit accounts, QuickBooks Online Self-Employed will help you make the most you can without having to pay more than you should to the IRS. We give you the scoop on what's new, what's best and how to make the most out of the products you love.


1099 form printable free In conclusion, Dallas tax lawyers have combined skills and professionalism at work that allow them to excel in the field of taxation. I hope Estimate your federal income taxes with free federal online tax calculator income tax calculator 2016. The same timely filed postmark standard that IRS accepts for your annual return filing is used for estimated tax payments, too.
This countdown clock will make sure that all of us -- yes, I'm on filing extension time, too -- still working on our tax returns don't miss the Oct. The playful pooch below is happy about this month and you can be, too, by taking some tax steps to lower your upcoming bill.
If so and you received $20 in tips in July, use Form 4070 to report them today to your employer. But even if you live in of the seven states without an income levy, you still face other state (and local) taxes.
The content on Don't Mess With Taxes is my personal opinion based on my study and understanding of tax laws, policies and regulations. The IRS has speeded up the process, but if you are thinking today about opening and using EFTPS to pay your 1040-ES that's due next week, too bad. The IRS considers a payment made or return timely filed if it's postmarked or otherwise officially dated by the delivery company on the due date of the tax. That's when the IRS starts accepting electronically filed returns and also opens the door to Free File 2012. To make this easier, I’ve included a second graphic below with a simple version of the spreadsheet.
As is the case with QuickBooks Online, once you link accounts, QuickBooks Online Self-Employed will continue to automatically import all transactions associated with those accounts.
Once you categorize an expense from a particular vendor, QuickBooks Online Self-Employed continues to categorize expenses from that vendor in the same way. As the app presents an expense, you swipe left to mark it as a business expense or swipe right to make it a personal expense. You can also see a breakdown of your expenses by category and a full Schedule C breakdown of your income and expenses.
Plus, no surprises here, you can export all of the information you collect using QuickBooks Online Self-Employed directly into Intuita€™s TurboTax application. But Ia€™d appreciate a simple way to provide customers with proof of work completed, which would also serve as a means of linking income to a job or task. But in this post i will explain What might the 2016 tax rates and 2016 tax brackets look like?
Send the income tax vouchers to the address for bona fide residents and the self-employment tax vouchers to the address for non bona-fide residents. Then my book, "The Truth About Paying Fewer Taxes," is for all y'all.Look for it on bookstore shelves or order a copy (or two!) from Amazon or Barnes & Noble.
It is provided for your private, noncommercial, educational and informational purposes only. That said, you must take the time to look at the data and share with Democrats, liberals and those who voted for President Obama. Everyone who votes or forms an opinion on the matter influences policy which drives the narrative of the Regime. Every time new transactions are imported, you can verify the expense and make sure the categorization is correct. It is possible to perform this same task using the Web app, but I found the process less efficient, particularly when using the QuickBooks Online Self-Employed home screen, as it often hung after one or two clicks. The most obvious implementation of this feature would be to have a something within the iOS app to enter beginning and ending mileage while youa€™re in the car and have the app automatically calculate everything else. 14: Maryland joins the 2016 state sales tax holiday parade today with its event, which runs through Aug.
Instead, youa€™ll need to use some other tool to collect mileage information and then manually enter it in the Web app. It does provide a nice graphical breakdown of your income and expenses, with a focus on how your business is doing, and the option to view a Schedule C breakdown. You'll find tips and more here at the ol' blog to help you meet your new, and final, tax filing due date and reduce your already accruing 2016 tax bill.
But it would be useful to have a small set of built-in reports, like income and expenses, profit and loss, or at the very least a CSV export of income and expenses. In other words, my ramblings on the ol' blog are free advice and you know what they say about getting what you pay for.
That's why when it comes to filing your taxes, I urge you to get additional, professional, paid-for guidance from an accountant, Enrolled Agent or other qualified tax preparer who is familiar with your individual tax circumstances.
But you might be able to squeeze in one more quick vacation before the kids go back to class. If you can combine some business with the personal trip, Uncle Sam could cover some travel costs. While you're out of town, you might be able to make some money on your house by renting it to other vacationers.
As long as you follow the tax laws, like leasing your residence or second home for 14 days or less, the money you make as a short-term landlord is tax-free. 21: Connecticut wraps up the 2016 state sales tax season with its event that starts today and runs through Aug. Even better, the move to your new abode was job related or you found employment soon after you settled in.
31: The 2016 Atlantic hurricane season got an early start with the unusual development of Hurricane Alex in January. The tropical storm season typically picks up in August and September and it officially runs through Nov.




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