Greetings, and thanks for subscribing!
Welcome to the second edition of the Arlyce Cleveland, Ltd. Newsletter. It's official, the New Year is upon us and we have entered 2017!
Tax Deadline this month: January 31st:
All 1099’s, W2’s, and CRP’s are due no later than January 31st. Be advised that there are large fines for not filing required forms, so please do not overlook any that should be filed for subcontractors, rent, attorneys, interest paid, prizes or awards, etc.
To assist in your tax preparation, W9's are available on our website; access one by clicking here: https://www.irs.gov/pub/irs-pdf/fw9.pdf. 2016 tax organizers can also be found on our website: http://www.accounting-offices.net/tax-form-toolbox/ or you can request an organizer by emailing esther@accounting-offices.net, or calling our offices: (763)786-4626
Rental Property Owners (Sch E) and Self-Employed Business Owners:
If you do not have an accounting software that produces financial statements, please utilize the worksheets available on the website: http://www.accounting-offices.net/tax-form-toolbox/, or by calling our administrative team, to summarize your 2016 rental and/ or business activities. Be sure to include your LLC legal name and federal ID, if applicable, so that we can add you to our annual business renewal list.
Reminder; if you are deducting business mileage, we will need your odometer readings for January 1 and December 31, 2016. Of these total miles, we need to know how many are business versus personal.
Looking ahead to next month, we want to remind everyone that annual sales tax returns are due by February 6th, 2017.
As stated below: Next year the state of MN will require your state identification number to be part of your tax return. In an effort to be proactive we will ask for ID’s this tax year. There’s also due diligence requirements for dependents, so you will need to provide a birth certificate and/ or school records for your dependents. See our website for full details regarding this law.
|
|
Important Tax Law Updates:
- Partnership returns (Form 1065) will be due March 15th. A change from April 15th last year.
- Next year the State of MN will require your state identification number to be a part of your tax return. They will also require due diligence requirements for your dependents, so you will need to provide a birth certificate and or school records.
|
|
|
In Other News:
We want to take a moment to congratulate the winner of our Newsletter Drawing: Deb Pieper!!
|
|
|
|
|
|
|
