Richard Smith newsletter good tax stuff

Richard Smith & Associates     Read Our Newsletter Financial Calculators Tax Center Free Reports Contact Us Featured Articles For May, 2013   Paying Taxes on Household Helpers When you hire someone to work around the house or baby-sit your children, do you need to pay tax for them? Keep reading to find out. What to Do If You Haven't Filed an Income Tax Return If you're cringing because you haven't filed a 2011 tax return yet, don't worry. It's not too late, and it's not as hard as you may think. Don't Be Fooled: The Dirty Dozen Tax Scams for 2013 Although the 2012 tax season is officially over, tax scams unfortunately are not, and taxpayers who buy into illegal tax scams can end up facing significant penalties and interest and even criminal prosecution. Whether you've already paid your taxes, are waiting for a refund, or have filed an extension, here's the "dirty doze" list of tax scams for the 2013 filing season according to the IRS. Turn Your Vacation Into a Tax Deduction Would you like to legally deduct every dime you spend on vacation this year? The five strategies outlined in this article will show you how. Tax Tips Ten Facts on Filing an Amended Tax Return Eight Facts on Late Filing and Late Payment Penalties Six Tips for People Who Pay Estimated Taxes Tax Rules for Children With Investment Income   Tax Due Dates May 10 Employers - Social Security, Medicare, and withheld income tax. File Form 941 for the first quarter of 2013. This due date applies only if you deposited the tax for the quarter in full and on time. Employees - who work for tips. If you received $20 or more in tips during April, report them to your employer. You can use Form 4070. May 15 Employers - Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in April. Employers - Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in April. Click here to read the rest of the newsletter. Please call us at (408)446-5551 if you have any questions. Richard Smith & Associates 10050 N. Wolfe Rd. Suite SW2-140 Cupertino, CA 95014 www.richardsmithtax.com  (408)446-5551   These newsletter articles are not to be used by the recipient for the purpose of avoiding federal tax penalties that may be imposed on any taxpayer.