Tag Archive for IRS

TAX TIP: Use QuickBooks Online to Ease Estimated Tax Nightmares

DID YOU KNOW? Figuring out estimated taxes can be a big PITA if you don’t have a bookkeeping system…and doing your own books can be even more overwhelming….until now! If you pay estimated tax, and your income fluctuates, you may wish to adjust estimated tax installments you owe throughout the year, say if you’re not earning as…

Standard Mileage Rate For 2014 is…

The IRS has announced slightly increased 2014 standard mileage rates, following the past few years trend. The IRS official press release and link to the IRS website follows: WASHINGTON — The Internal Revenue Service today issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable,…

Free Tool to Calculate 1040-ES Estimated Tax Payment Amounts (link)

Here’s a great resource I’ve located online for calculating how much you need to pay with the Form 1040-ES voucher. As a tax professional, I found this estimated tax payment calculator tool (link below) fairly straightforward to use. TAX TIP: If the tool I linked to below seems overwhelming or confusing to you, please consider…

List of IRS forms that 1040 filers can begin filing in March 2013

Per the IRS: “the following tax forms will be accepted by the IRS during the first week of March after updating forms and completing programming and testing of its processing systems. A specific date will be announced in the near future.” Form 3800 General Business Credit Form 4136 Credit for Federal Tax Paid on Fuels…

How to Pay Your IRS 1040ES Estimated Taxes

The IRS accepts payment by mail, credit card, or online. The following instructions are from the IRS 2013 “Form 1040ES Instructions – “How To Pay Estimated Tax”: Pay Online: Paying online is convenient and secure and helps make sure we get your payments on time. You can pay using either of the following electronic payment…

IRS announces 2010 Mileage rates

2010 IRS Mileage Rate drops 9% from 2009 Level The 2010 IRS mileage rate for business mileage is 50 cents; find more, including rates for medical/moving and charitable miles at: http://www.irs.gov/newsroom/article/0,,id=216048,00.html The IRS Mileage Rate for 2009 was 55 cents, a full 5 cents higher. According to the IRS, the reduced 2010 rate reflects generally…