June, 2015
Estimate Payments due 6/15, Second Quarter Payroll Soon
Some people will need to make Estimated Payments for taxes for 2015. The second quarter payment is due 6/15. If you need to make an estimate for 2015, this amount is due even if you are on extension for 2014. If you need to make estimates and need a coupon, let me know.
Also, payroll reports (and tax payments) for the second quarter are due soon.
Paid Sick Leave in CA—Mandatory starting 7/1/15
Starting July first, employees who work thrity hours or more are now entitled to paid sick leave. The rate is one hour per every thirty hours worked, but can’t be used (under this program) until the 90th day of employment.
Here is the link for the POSTER that must be displayed:
https://www.dir.ca.gov/DLSE/Publications/Paid_Sick_Days_Poster_Template_%2811_2014%29.pdf
This can also be found by searching for DLSE Paid Sick Leave Posting.
Employers can limit the use of paid sick days to 24 hours or three days in each year of employment, and it may be capped at 48 hours or six days, but it carries forward if unused.
San Francisco already has a paid sick leave policy. See http://sfgsa.org/index.aspx?page=419 for details. This is only if your place of business is in San Francisco: it doesn’t apply to your business if you are in Alameda.
Classes: Basic Payroll and Schedule C
Here’s a link to the seminars page on my website: www.taxbuddha.com/seminars.html
Basic Payroll
In conjunction with the IRS and EDD, I’m going to be doing some Basic
Payroll seminars coming up in the near future.
Basic Payroll Seminar runs 9 am 3 pm with an hour for lunch
The next seminar will be:
San Francisco at the SBA office 455 Market Street, 6th floor
(I take BART to Embarcadero or Montgomery Street)
Tuesday, July 7, 9:00 am – 3:00 pm
Tuesday, September 8, 9:00 am – 3:00 pm
Register by going to http://www.edd.ca.gov/Payroll_Tax_Seminars/ and find your favorite location.
These seminars have proven to be very popular for business owners and bookkeepers, plus they’re free.
How to Prepare your Own Schedule C
Get ready for next year and filing your own Schedule C for last year. Review what the IRS wants to know from you and how to report it for your business. This is a class for business owners who need a basic understanding of their 1040 Schedule C tax forms. We’ll also talk about what to do with the numbers once you have them. We can’t guarantee you won’t get audited, but this class will make it less likely.
I will be at the US SBA office in San Francisco at 455 Market Street, 6th Floor.
Tuesday, August 25, 6:00 pm – 8:30 pm
You can register for this class at http://www.sbatrainings.eventbrite.com
The Eightfold Path to Pay Less Tax and Avoid an Audit
Eight basic things business owners want to know printed in a booklet in “executive summary” form. This is ten years of working with the IRS Tax Code distilled down so it doesn’t take YOU ten years.
Just another way we’re trying to simplify your life. And the purchase is tax deductible!
You can order from Amazon.com. Here’s the link to Amazon: http://www.amazon.com/Eightfold-Path-Less-Avoid-Audit/dp/0615233422/ref=sr_1_22?ie=UTF8&s=books&qid=1226611038&sr=1-22
The booklet also contains sections on how returns are selected for audit,
when to seek professional help, and how long to keep your tax records.
Little Box of Inc: Incorporations Made Easy published on Kindle
The book with tips about how the S Corporation works is now published to Amazon’s Kindle, updated with additional information about S Corporations, and can be found by searching for Andrew S Rogers as author, and click on “Kindle.” Here’s the blurb:
Considering incorporating as an S Corporation? This booklet will help you understand how the S Corporation works, what you need to do to become incorporated and what you need to do once you have a corporation to stay out of trouble. The structure and the requirements are reviewed, as well as helpful tips to use your corporation to reduce your tax liability and retain your status as an S Corporation. I’ve worked with S Corporations for many years, and as a tax preparer, I can choose the kind of entity I have for my business: I choose the S Corporation myself, and I’ve convinced many of my fellow tax preparers to incorporate as well. I’ve divided the information into clear, easy-to-understand topics, and cross-referenced sections when it might be helpful.
After you’ve read this material, you can view on-line videos via YouTube.com for free to access more advanced information about S Corporations. You may also be interested in my “Choice of Entity” class – see below.
Want to be the first person in your tax bracket to sport the fabulous Tax
Buddha Messenger Bag? I’ve now got a “shop” on Café Press
at www.cafepress.com/TaxBuddha in
case you’d like to order your own
Tax Buddha logo items. The messenger bag came out particularly well, not
quite “saffron,” but easy to find in an airport.
Our northern California occasional in Alameda:
1516 Oak Street, Suite 109
Alameda CA 94501
Phone numbers are:
Phone (510) 332-0401
Fax (925) 478-2726
“You too can be enlightened about tax” — Tax Buddha