July 2016
If you've decided to sell your business, you may be looking forward to lazy days ahead with plenty of cash on hand. The reality, however, is without a tax planning strategy in place you could be liable for capital gains and other taxes related to the sale of your business that leaves you with far less cash than you anticipated.
Read More
Many nonprofit organizations are so focused on carrying out their mission, organizing volunteers, and keeping track of in-kind services and donations that they inadvertently forget about tax compliance. Doing so could put your organization in jeopardy.
Read More
Between mortgages, car loans, credit cards, and student loans, most people are in debt. While being debt-free is a worthwhile goal, most people need to focus on managing their debt first since it's likely to be there for most of their life. Here are some tips to help you do just that.
Read More
accounts_man.jpg
Learn how having a Budget vs. Actual Report you can take to reach your business goals--and with less effort than you might think.
Read More
Some natural disasters like hurricanes are more common in the summer, but major events such as tornadoes, floods, and fires can strike at any time. Learn how to make your financial recovery easier by keeping your tax and financial records safe.
Read More
TAX DUE DATES 

July 11

Employees Who Work for Tips - If you received $20 or more in tips during June, report them to your employer. You can use Form 4070.

July 15

Employers - Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in June.
Employers - Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in June.

August 1

Employers - Social Security, Medicare, and withheld income tax. File Form 941 for the second quarter of 2016. 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 August 10 to file the return.
Employers - Federal unemployment tax. Deposit the tax owed through June if more than $500.
Employers - If you maintain an employee benefit plan, such as a pension, profit-sharing, or stock bonus plan, file Form 5500 or 5500-EZ for calendar-year 2015. If you use a fiscal year as your plan year, file the form by the last day of the seventh month after the plan year ends.
Certain Small Employers - Deposit any undeposited tax if your tax liability is $2,500 or more for 2016 but less than $2,500 for the second quarter.
IN THIS ISSUE
Tax Tips

QuickBooks Tips
myVAO Logo
MyVAO brings the power of the cloud to the accounting world providing scalable, flexible and highly customizable interactive accounting and tax services to small and mid-size businesses. Whether you simply need hosted QuickBooks™ or a complete suite of accounting and tax services myVAO can provide either one or anything in between.


 
     *  SAFE
         *  SECURE
             *  SCALABLE
                 *  CONVENIENT


MyVAO is a QuickBooks Hosting Service owned and operated by Dawson & Associates, CPAs.
For more information visit www.myvao.com

Dawson & Associates | 818 379-9800 | [email protected] | http://www.dawsoncpa.com
16027 Ventura Boulevard Suite 501
Encino, CA 91436

Dawson & Associates | 16027 Ventura Boulevard Suite 501 | Encino | CA | 91436