Welcome to Virtual Accounting and Tax!
Our mission is to provide accounting and tax services for self-employed individuals, entrepreneurs, start-ups, and small to medium-sized businesses with peace-of-mind as to their accounting, payroll, and tax reporting needs. We understand the language of accounting and how it relates to taxation. With us in the picture, our clients can stay focused on managing and growing their businesses. We in our accounting and tax services, also dedicate ourselves to providing prompt, professional guidance to W2 filers from all walks of life.
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Why Choose Virtual Accounting And Tax
We have over 20 years’ experience working with self-employed individuals, contractors, trades, retail sales, law practices, construction, government contractors, real estate professionals, property managers, renters, auto sales, mechanics, small-scale manufacturing, entertainers, musicians, restaurants, catering services, landscaping, home owner associations, and in-home nursing care. We also work with military families, retirees, high-wealth individuals, trust and estates.
It’s usually best to pay your fourth current year estimated quarterly tax payment before the end of the tax year. These are usually due by mid-January of the subsequent year (Q4 2016 payment due by 1/15/2017). It’s best to pay this before the end of the calendar year (2016 in this example) so that the tax agency doesn’t misapply it to the following tax year (2017 in this example). Paying it late (after the mid-January due date or having the tax agency misapply it to the following tax year because they received it late) will mean you may, in fact, owe taxes for the current tax year (2016 in this example) after the taxing agency processes your 2016 tax return. This happens from time to time, so make all your estimated tax payments within the same calendar year (before December 31st, 2016, in this example) and you should be fine. As always, annotate the check as to the tax year for which the estimated payment is for.
Be sure to make an inventory list of any personalty you’re donating (to include purchase date, cost, description, condition) so that you have an adequate record and can substantiate your itemized deduction.