Category Archives: Business How To’s

Critical IRS Deadlines in the Year 2014 – June through December

300X250 Focus Blurb AdNow is a good time for you to do a mid-year health check on your record keeping and tax status.

Give us a call at 619-589-8680 and let’s set up a time for you to come in.

June 2, 2014

Deadline for financial institutions to send out Form 5498 to report balances in an individual retirement account for the year 2013.

June 16, 2014

2nd quarter estimated tax payments due for the 2014 tax year. (The normal deadline is June 15th, which falls on a Sunday, so the deadline is pushed to the next business day.)

Deadline for US citizens living abroad to file individual tax returns and to pay any tax due. You can request an additional 4-month extension (Form 4868). (You can request an automatic extension by April 15th instead if you want to.) Two tax breaks important for Americans working abroad are the Foreign Earned Income Exclusion and the Foreign Tax Credit, .

June 30, 2014

Deadline to file Foreign Bank Account Report for the year 2013. This report is required if you have over $10,000 (in aggregate) held in foreign bank accounts. Foreign Bank Account Reports have a new form number (FinCEN Form 114) and must be filed electronically. Extensions of time to file are not available.

September 15, 2014

3rd quarter estimated tax payments due for the 2014 tax year.

Final deadline to file corporate tax returns for the year 2013 if an extension was requested. (Forms 1120, 1120A, 1120S).

Final deadline to file trust income tax returns (Form 1041) for the year 2013 if an extension was requested.

Final deadline to file partnership tax returns (Form 1065) for the year 2013 if an extension was requested.

October 1, 2014

Final deadline for self-employed persons or small employers to establish a SIMPLE-IRA for the year 2014.

October 15, 2014

Final deadline to file individual tax returns (with extension). (Forms 1040, 1040A, 1040EZ.)

Last day the IRS will accept an electronically filed tax return for the year 2013. If filing after October 15th, you’ll need to mail in your tax return for processing.

Final deadline to fund a SEP-IRA or solo 401(k) for tax year 2013 if you requested an automatic extension of time to file.

November 2014

Start planning any year-end tax moves.

December 1, 2014

If you are covered by an HSA-compatible health insurance policy as of December 1st, you’ll be eligible to contribute the full amount to a Health Savings Account for the year.

December 31, 2014

Last day to make any tax moves for the year 2014. Last day to set up a solo 401(k) for self-employed persons.

Marital status on this date determines your marital status for the whole year.

Source: Income Tax Deadlines; Critical IRS Deadlines in the Year 2014

Finished With Taxes? Not just yet.

What Should You Keep?

Med size man staring at filesNow that April 15 has come and gone – you may look at this time as an opportunity to clean up, clean out and get organized.  We will be writing about tips to freshen or set up your in-home office to help you in your recordkeeping, but before we go there… let’s talk about your tax files first and what you need to keep.

Begin by gathering all of the documents and files that you pulled together to prepare your taxes. Continue reading

Promoting Home Childcare Business – Tips and Strategies #1

Baby Only Facing Right5 Ways to Promote Your Home Childcare Business

Child Care Tax Specialists isn’t just about taxes We write about, and share, best practices for the business owner to help them tackle their administrative tasks that they make time for every day, every week, every month.  We aren’t seasonal.  We work with our child care clients throughout the year, including our bi-annual YMCA Tax & Recordkeeping Seminars and Audit Workshops.

In this series, we will share some of the best “how to’s” out there beginning with this article by Rachel Carpenter.

Did you just recently start a home child care business? Do you have several openings to fill? Are you looking for places on where to advertise your child care services? Here are a few advertising options to consider.

Where to Advertise a Home Day Care Tip #1: Advertise Through Friends (Word-of-Mouth)    One of the cheapest ways to get the news out about your business is through word-of-mouth. Tell your friends that you are starting a home child care business and that you have openings. Your friend will then pass the information along to anyone they know that needs child care.

Do you have Facebook, MySpace or Twitter? Make a status update or tweet saying “I’ve started a home child care business! I’m exciting about caring for children and helping families. If you know of anyone needing child care, please refer me!” You might also tell your friends through e-mail, or just give them a call to let them know. You might also share with your friends at church, your neighbors and any groups that you are part of.

This advertising method is perhaps one of the most effective ways to advertise because it comes with a reference. If people know that you are a reputable, caring person, they are more likely to consider your services.

Where to Advertise a Home Day Care Tip #2: Advertise Online

The next inexpensive way to advertise your home day care is online. You might start with the website Search for a local online mom’s group in your area. Join the group and introduce yourself, and share the news about your business. Some Cafemom groups will have a section just for advertising, and you can advertise there.

You might also advertise on in the “child care” section. Additionally, you can also check to see if there is a local Facebook group for moms, and you might mention there. Do not spam people on Cafemom or Facebook, as that it will only hurt your business.

Where to Advertise a Home Day Care Tip #3: Advertise Through Flyers

A third low-cost way to advertise your child care business is through Flyers. Create eye-catching, adorable fliers. Be sure that they are professional looking. (Don’t just write a hand-written note saying “Home Day Center Has Openings. Call XXX”) Be sure to include your qualifications, if you are CPR and First Aid Certified, and that you have references available. It is best to make the flyers colorful, if possible.

Post these fliers wherever parents might go. Try putting them in grocery stores, gyms, coffee shops, college and other locations that have bulletin boards available. You might also try to advertise in teacher’s lounges at local schools – it doesn’t hurt to stop by the school and ask. You can also try placing the flyers in child-related businesses such as clothing stores, dance studios, etc.

Where to Advertise a Home Day Care Tip #4: Advertise in Newspapers

If none of the options above work, remember you can always advertise in local newspapers. If there is a Thrifty Nickel in your area, try advertising there. You might also try running a classified ad in a local family magazine or community newspaper. And, don’t forget you can advertise in your town or city’s newspaper as well. Be sure to have references available for anyone who calls.

Where to Advertise a Home Day Care Tip #5: Advertise at Local Community Health Fairs    A fifth option is to rent a booth at a local community health fair. This is a great way to meet parents in person and promote your business. Be sure to have business card and flyers handy to share with prospective clients. And, of course, have a list of references available for anyone who asks. It doesn’t hurt to have resume handy as well.

These are just five ways to promote your home childcare business! As home day centers are in demand in most areas, you should have several children to care for in no time at all. Good Luck and Happy Working!