Greetings!

This month at Dawson & Associates we are launching a new format for our monthly newsletter.  

Every month we will send you a handful of timely articles, Tax Tips and other useful information to help you secure your financial future. Our goal is to create awareness of new and relevant tax and financial topics that impact your decision making process. In today's challenging economy it is more important than ever before to stay on top of current tax and financial issues. 

With the 4th quarter upon us, the upcoming national election, and the end of the year holidays fast approaching, please know that we are here to help with any of your accounting and tax needs.
 
Tax Relief for Those Affected By Natural Disasters
With hurricanes, tornadoes, floods, wildfires, and other natural disasters affecting so many people throughout the US this year, many have been left wondering how they're going to pay for the cleanup or when their businesses will be able to reopen. The good news is that there is some relief for tax payers--but only if you meet certain conditions.  CLICK HERE TO READ MORE
Lending Money to Family?  Make it a Tax-Smart Loan 

Lending money to a cash-strapped family member or friend is a noble and generous offer that just might make a difference. But before you hand over the cash, you need to plan ahead to avoid tax complications down the road.  CLICK HERE TO READ MORE

Living Trusts 101
A trust, like a corporation, is an entity that exists only on paper but is legally capable of owning property. However, a live person called the trustee must be in charge of the property. Further, you can actually be the trustee of your own living trust, keeping full control over all property legally owned by the trust.  CLICK HERE TO READ MORE

 

Hobby or Business? Why It Matters 
Millions of Americans have hobbies, but when that hobby starts to turn a profit, it might just be considered a business by the IRS. Learn more about the tax implications of a hobby versus a business. CLICK HERE To Learn more about the tax implications of a hobby versus a business.
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OCTOBER 2012
   
Table of Contents
Tax Relief for Those Affected By Natural Disasters
Lending Money to Family?...Make it a Tax-Smart Loan
Living Trusts 101
Hobby or Business? Why It Matters
Power of the Cloud: MyVAO
Tax Tips
Tax Due Dates

October 31 
Employers - Social Security, Medicare, and withheld income tax. File form 941 for the third quarter of 2012. Deposit any undeposited tax. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the quarter in full and on time, you have until November 13 to file the return.
 
Certain Small Employers -
Deposit any undeposited tax if your tax liability is $2,500 or more for 2012 but less than $2,500 for the third quarter.
 
EmployersFederal Unemployment Tax. Deposit the tax owed through September if more than $500
 Dawson & Associates...
is a full service accounting firm dedicated to giving you quality and service at a reasonable price. Our team is highly trained and very experienced so that your accounting needs are met as effectively and efficiently as possible.

 

Sincerely,

Linda Dawson
Dawson & Associates