Monthly Archives: March 2015

April 15th: Quick reminder – HSA, IRA’s, etc….

April 15th -Coming Soon Image

TAX RETURNS vs. TAX PAYMENTS – What is due?

  • Your tax payment is due by April 15th.  Your tax return does not have to be filed by 4/15 as long as we have filed an extension.
  • If we have prepared your taxes in the past, and your taxes are not complete – rest assured, we have filed an extension for you, you do not need to do anything, or sign anything.

** IF YOU OWE TAXES — Your TAX PAYMENT is due by April 15th.  Your filing date can be extended, but not the payment **


EXTENSION PAYMENTS:

If you would like to make a tax payment for April 15th, Please contact us ASAP.  We will be happy to help you with this.  If you had a tax review completed by us for 2012, please refer to the notes from that meeting for our instructions on what you will need to do by 4/15.

If you have questions, please email:  darrellynn@biz-by-design.  He can get your questions to  your BBD Accountant in Charge.

HEALTH SAVINGS ACCOUNTS (HSA) for 2014HSA Image

  • Your 2014 HSA contribution needs to be funded by 4/15/15.  HSA contributions can not be extended with a personal tax extension.
  • Family Plan:  The max contribution for a family plan is $6,550.
  • Individual Plan:  The max contribution for an individual plan is $3,300.
  • Age 55+:  If you are 55+, you can add an additional $1,000 to your contribution.

NOTE:  You would need to have had the plan opened up in 2014 to make a contribution for 2014.

IRA’s and ROTH IRA’s for 2014 – Personal ContributionsIRA - Image

  • IRA Contributions – The max IRA contribution is $5,500.   If you are 50 and older, you can an additional $1,000.   The IRA must be opened and funded by 4/15/15.  This contribution can not be extended with a personal tax extension.
  • ROTH IRA Contributions:   The max ROTH IRA contribution is $5,500.   If you are 50 and older, you can an additonal $1,000.   The IRA must be opened and funded by 4/15/15.  This contribution can not be exteneded with a personal tax extension.

NOTE The due date of 4/15 DOES NOT apply to SEP’s and 401K contributions.  Those contributions can be extened with the due date of the Personal or Corporation tax return.


Wealth Training for Entrepreneurs – Part 2

Plan and Act Differently for 2015!

Wealth Training for Entrepreneurs – Session #2:

TAttacting Wealthhis session is set up to continue your thinking down a different path for 2015 taxes and tax planning.  If you want to have a different end result, you need to do something different.

In this session, I have identified 4 key areas you can focus your attention on when considering your 2015 tax planning.  The area are:

  1. Real Estate Investing and your taxes
  2. Timing and Tax Deferral
  3. Business Entity Choice
  4. Maximizing Fringe Benefits

Click Here to view:  Lesson #2 – How to think different for 2015