Tax Pro Plus
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Los Angeles, CA 90064
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Dear Valued Client,
Don’t delay, the April 18th individual tax filing deadline is upon us. Yes, you get three extra days this year. In this edition of our client newsletter, we cover the tax deadline and your filing options, important due dates for those holding foreign accounts, health reimbursement accounts for small business owners, a quick link to check the status of your tax refund, startup tips and much more.
Our goal is to provide you an unparalleled level of client service. If you see something that you want to talk about, please contact us to explore the possibilities. We rely on satisfied clients as the primary source of new business, and your referrals are both welcomed and most sincerely appreciated!
Tax Pro Plus
Don’t delay, the April 18th individual tax filing deadline is upon us. Yes, you get three extra days this year. In this edition of our client newsletter, we cover the tax deadline and your filing options, important due dates for those holding foreign accounts, health reimbursement accounts for small business owners, a quick link to check the status of your tax refund, startup tips and much more.
Our goal is to provide you an unparalleled level of client service. If you see something that you want to talk about, please contact us to explore the possibilities. We rely on satisfied clients as the primary source of new business, and your referrals are both welcomed and most sincerely appreciated!
Tax Pro Plus
Tax Filing Deadline is Around the Corner
Just a reminder to those who have not yet filed their 2016 tax return that April 18, 2017 is the due date to either file your return and pay any taxes owed, or file for the automatic six-month extension and pay the tax you estimate to be due. The due date is normally April 15, but the 15th falls on a weekend and the next business day, April 17, is Emancipation Day, a legal holiday in Washington D.C., so the due date in 2017 is April 18.
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Important Due Date: Foreign Account Reporting Requirements (FBAR)
U.S. citizens and residents with a financial interest in or signature or other authority over any foreign financial account need to report that relationship by filing FinCEN Form 114 by April 18, 2017 if the aggregate value of the accounts exceeds $10,000 at any time during 2016. Failure to file can result in draconian penalties.
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Health Reimbursement Arrangements Approved For Qualified Small Employers
Under the Affordable Care Act (ACA or Obamacare), a health reimbursement arrangement (HRA) is treated as a group health plan, and as such, it has to meet all of the ACA’s market-reform requirements, which is not possible for the typical HRA. Stand-alone HRAs do not meet two key requirements of the ACA in that they:
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Checking the Status of Your Federal Tax Refund is Easy
If your 2016 federal return has already been filed and you are due a refund, you can check the status of your refund online.
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Don't Be Scammed by Fake Charities
Each year at this time, the IRS publishes its list of the "dirty dozen" tax scams. Among the dirty dozen are groups that masquerade as charitable organizations to attract donations from unsuspecting contributors. Before you write a check, be aware that fraudsters are out there soliciting on behalf of bogus charities and that some so-called charities aren't entirely honest about how they use contributions.
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Tax Deductions for Owner-Operator Truckers
As an owner-operator in the trucking industry, your tax situation is unique. You benefit from special allowances for meals, are allowed very large write-offs for tractors and other equipment, must pay additional taxes and permit costs, and may have special reporting requirements in addition to your tax returns. The following is an overview of the tax issues that may apply to owner-operators.
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8 Financial Tips to Help Save Money While Building Your Startup
Starting a new business is one of life's most exciting adventures. However, in order to build a successful company you need to start turning a profit as soon as possible. In the beginning of any business, expenses are unavoidable, but you can increase your profits by minimizing these expenses as much as possible. Here are eight tips you can use to save money while building your startup company.
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QuickBooks Tip: Are You Memorizing Transactions? Should You Be?
You know that QuickBooks saves a lot of time. But have you explored how it does so by memorizing transactions?
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The Tax Pro Plus newsletter is available via e-mail on a free subscription basis. You can subscribe or unsubscribe at any time. For more information about - Tax Pro Plus, go to http://www.taxproplus-la.com. This message was sent using ClientWhys Persyst. View our permission marketing policy.
Disclaimer: The tax advice included in this newsletter is an overview of some complex tax rules and is not intended as a thorough in-depth analysis of the tax issues discussed. Do not act on the information included in this newsletter without first determining how these issues apply to your particular set of circumstances and if there are any special tax laws or regulations that might apply to your situation.
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