Friday, September 7, 2012

STS Financial Tips & Tax Due Dates for September 2012


Create a Living Will
Discuss your wishes concerning health care and funeral arrangements with your spouse. This may not be a pleasant undertaking, but it is important that others know your preferences should you be incapacitated. Document your decisions by creating a Living Will.

Update Your Will
Update your will and, if you are married, your spouse's will as well.

Review Budget vs. Actuals
Compare August income and expenditures with your budget. Make adjustments as appropriate to your September expenditures. Make sure you have invested your planned savings amount for August.

Tax Due Dates for September 2012

September 10
Employees Who Work for Tips - If you received $20 or more in tips during August, report them to your employer. You can use Form 4070.
September 17
Individuals - Make a payment of your 2012 estimated tax if you are not paying your income tax for the year through withholding (or will not pay in enough tax that way). Use Form 1040-ES. This is the third installment date for estimated tax in 2012.

Corporations - File a 2011 calendar year income tax return (Form 1120 or 1120-A) and pay any tax due. This due date applies only if you made a timely request for an automatic 6-month extension.

S corporations - File a 2011 calendar year income tax return (Form 1120S) and pay any tax due. This due date applies only if you made a timely request for an automatic 6-month extension. Provide each shareholder with a copy of Schedule K-1 (Form 1120S) or a substitute Schedule K-1.

Partnerships - File a 2011 calendar year income tax return (Form 1065). This due date applies only if you were given an additional 5-month extension. Provide each shareholder with a copy of Schedule K-1 (Form 1065) or a substitute Schedule K-1.

Corporations - Deposit the third installment of estimated income tax for 2012. A worksheet, Form 1120-W, is available to help you make an estimate of your tax for the year.

Employers - Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in August.

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


Questions? Give us a call today. We are your financial partners, and we are here to help.

Security Tax Services LLC

North Sound                                       South Sound
2802 Wetmore Ave, Suite 212           33530 1st Way S, Suite 102
Everett, WA 98201                             Federal Way, WA 98003
425.339.2400                                     253.237.0751
fax 425.259.1099                               fax 253.237.0701


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