Workshop Update for January 3rd, 2013

in Workshop Update by DP | 2 comments

Nearly completed travel, meals, and entertainment log for tax year 2012. Filed Iowa state sales tax for the free PCB store experiment. Paid federal and state 4th quarter estimated taxes. Super important hint: Federal tax payment with EFTPS.gov is free, but you need to do it a few days in advance.

Also filed 2012 1099-MISC forms for community members in the US who receive royalties over $600 per year. These are due to the tax office in April, but you need to mail them to recipients before the end of January. Once again we used efilemyforms because it’s cheap ($3.50) and easy.

Take a look at how we did our taxes as a single member LLC in 2011. This year we’ll post a new tutorial for a multiple member LLC in April.

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Comments

  1. JBeale says:

    Thanks for this tip, I did not realize there was a way to do it online for free! (I previously used a non-free service). “Federal tax payment with EFTPS.gov is free…” although you need to enroll at least 7 days in advance, because they have to snail-mail your PIN to your address of record.

    • Ian says:

      Good point about the PIN. The rule that gets me is starting the payment far enough in advance. It has to be (as I understand) 1 full day before the day you want the payment to take place. No last minute options here. I fall back on the pay services if I’m too late :)

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