Tax Pro Plus
2999 Overland Ave.
Suite 204
Los Angeles, CA 90064
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Ph: (310) 827-4829
Fax: (310) 842-7160
info@taxproplus-la.com
- Individual Estimated Tax Payments for 2015 Start Soon
- Our tax system is a “pay-as-you-go” system, and if your pre-paid amount is not enough, you become liable for non-deductible interest penalties. To facilitate that concept, the government has provided several means of assisting taxpayers in meeting the “pay-as-you-go” requirement. The primary among these include:
- Are You Leaving Tax Money On The Table?
- Each year the IRS reports about $1 billion in unclaimed refunds for individuals who did not file a tax return. The IRS estimates that approximately half of the unclaimed refunds are for amounts greater than $600. You may not have filed, thinking that because you don’t itemize and your employer is withholding tax that you don’t need to file. But there is a good chance you are leaving money on the table by not filing. Consider the following:
- Refund Statute Expiring
- If you have not yet filed your 2011 tax return and have a refund due from the IRS, the refund will be forfeited if you do not file for it by the April 15, 2015 deadline. On the other hand, if you owe and have not filed, you are still liable for the amount due.
- Can't Pay Your Taxes by the April Due Date?
- The vast majority of Americans get a tax refund from the IRS each spring, but what if you are one of those who end ends up owing?
- Writing Off Your Start-Up Expenses
- Business owners – especially those operating small businesses – may be helped by a tax law allowing them to deduct up to $5,000 of the start-up expenses in the first year of the business’s operation. This is in lieu of amortizing the expenses over 180 months (15 years).
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