Health Care Law & Your Tax Return Outlines different scenarios regarding healthcare coverage for you and your dependents (one page).
TaxTips Education/Parents Take a look at the various ways you can save money for education for your children or yourself, this includes Pre-paid Tuition, College Savings Plans, Education IRAs and regular IRAs, The American Opportunity Credit and Lifetime Learning Tax Credits. (4 pages).
OTHER TAX INFO
Sales and Use Tax on Out-of-State Purchases Read this one page suggestion on how to handle calculating it.
Tax Prep Times Read how to deduct 100% of your medical costs and insurance, as a business deduction. Yes, 100%. This deduction is not very well known, even by accountants and the IRS. But, you have to follow the rules very carefully. So read all about it. (One page).
NEW YORK STATE TAX INFO
Metropolitan Commuter Transportation Mobility Tax The Metropolitan Commuter Transportation Mobility Tax (MCTMT) otherwise known as the MTA Tax, is a tax imposed on certain employers and self-employed individuals engaging in business within the Metropolitan Commuter Transportation District (MCTD). The MCTD includes All boroughs of NYC, All of Long Island, and the counties of Rockland, Orange, Putnam, Dutchess, and Westchester.
NYS LLC ( IT-204-LLC ) and Partnerships due date March 15th Every Single Member LLC, Multi-Member LLC or LLP that has income or expenses from NYS sources must E-file form IT-204-LLC by March 15th. In addition, Regular Partnerships with 2019 gross income from NYS sources equal or in excess of $1 million must also efile this form. Fill out this one page sheet and return it to us as soon as possible.
CALIFORNIA TAX INFO
CA Independent Contractors If you hire freelancers in California, please read this. You are required by law to report to the EDD if you have paid $600 to an independent contractor (freelancer) within 20 days of paying or contracting them. (One page).
Los Angeles Business Tax If you live and/or do business in LA, you may be liable for this tax. (One page).
PAYING THE IRS AND STATE
IRS Direct Pay Tool The IRS has launched its new web-based system, IRS Direct Pay, which lets taxpayers pay their tax bills or make estimated tax payments directly from checking or savings accounts without any fees or pre-registration. (One page).
Paying the IRS by Credit Card? Most states accept credit cards to pay your taxes. Here are instructions and telephone numbers for two companies that handle payments to the IRS. (One page).
Enroll in EFTPS to pay the IRS online or via phone EFTPS, or Electronic Federal Tax Payment System, is a free payment system that enables taxpayers to make their tax payments electronically 24/7 using the internet or the phone. Enroll in the program using these step-by-step instructions. (One page).
For Current EFTPS Users For enrolled users of the Electronic Federal Tax Payment System, or EFTPS, a free payment system that enables taxpayers to make their tax payments electronically 24/7 online or over the phone. (One page).