Richard Smith Tax Newsletter

Richard Smith & Associates     Read Our Newsletter Financial Calculators Tax Center Free Reports Contact Us Featured Articles For December 2013   2013 Tax Changes for Individuals Here's what individuals and families need to know about tax changes for 2013. 2013 Tax Changes for Businesses Whether you file as a corporation or sole proprietor here's what business owners need to know about tax changes in 2013. 10 Tax Breaks Set to Expire in 2013 Federal tax breaks come and go, and this year is no different. Unless Congress takes action, 55 of them are set to expire on December 31, 2013. Let's take a look at the ones that are most likely to affect taxpayers like you. Tap Your Retirement Money Early; Minimize Penalties There are ways to withdraw funds early from retirement plans like your 401(k) without getting hit with a tax penalty. Tax Tips Retirement Contributions Limits Announced for 2014 10 Things to Know About Capital Gains Are Your Social Security Benefits Taxable?   Tax Due Dates December 10 Employees who work for tips - If you received $20 or more in tips during November, report them to your employer. You can use Form 4070. December 16 Corporations - Deposit the fourth installment of estimated income tax for 2013. A worksheet, Form 1120-W, is available to help you estimate your tax for the year. Employers Social Security, Medicare, and withheld income tax - If the monthly deposit rule applies, deposit the tax for payments in November. Employers Nonpayroll withholding - If the monthly deposit rule applies, deposit the tax for payments in November. 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.