3rd Quarter Tax Calendar 2012

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Taxes are not our favorite subject but as a tax accountant once said to me “If you weren’t making money you wouldn’t be paying taxes, so shut-up complaining about the taxes and be glad you are making money!” I have to repeat that to myself every time I write a check with “United States Treasury” on it… enough said, no whining, here is the 3rd quarter tax calendar 2012:

July 16 – Employers must deposit the tax for payments in June for social security, Medicare, withheld income tax, and non payroll withholding

August 15 – As above for July payments

September 17 – Third quarter estimated tax payments are due for individuals and calendar year corporations

HSA Update for 2013:

Health Savings Accounts (HSA’s) were created as a tax-favored framework to provide health care benefits mainly for small business owners, the self-employed, and employees of small to medium sized companies who do not have access to health insurance. I certainly take advantage of mine and as I used all of it up last year and this year already so glad to see it is being adjusted for inflation in  2013, $6,450/+4.8% for family coverage on a high deductible plan. A high deductible plan is  defined as not less than $1,250 for self-only coverage and $2,500 family.

Source: Tax and Business Alert

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