Business Tax Law & Tax Planning Resources From MGD

Resources

At Morrison, Gilger & David we are dedicated to providing clients and potential clients alike with the most up-to-date, accurate and relevant information regarding common tax concerns, estate planning issues, and general business matters.

    Articles

  • Business Use of Car Letter

    The purpose of this memo is to provide you with a general understanding of current tax deductibility laws pertaining to the use of a business vehicle and their potential applicability to your business.

  • Estate Tax & What to Expect From President Obama

    With president Barrack Obama taking office in January 2009 and a democratic majority in the House of Representatives and Senate, we are anxious to know what the new administration will propose or enact relative to income and estate taxes. As to estate taxes, President Obama has provided some information as to his intentions that most taxpayers should find agreeable.

  • IRA Trust Update

    This memo addresses recent changes in law that are relevant to an Individual Retirement Accounts, 401(K), Defined Benefit Pension Plan, and other similar estate planning tools (collectively referred to as “Retirement Plans”). More specifically, this memo will first focus on income tax ramifications associated with Retirement Plans. Second, this memo will address minor children who have been designated as beneficiaries of Retirement Plans.

  • What You Should Know as a Sponsor of a Defined Benefit Plan

    All qualified retirement plans must meet the standards and regulations set forth in ERISA and regulated by the Internal Revenue Service and Department of Labor. Defined benefit plans bring with them some unique compliance and operational issues. The purpose of this writing is to outline those issues.

Important Documents

IRS Form W-9

Request for Taxpayer Identification Number and Certification

IRS Form W-4

Complete Form W-4 so that your employer can withhold the correct federal income tax from your pay

IRS Form 1040

U.S. Individual Income Tax Return

IRS Form SS-4

Application for Employer Identification Number

IRS Form 1040-ES

Estimated Tax for Individuals

February 28

Paper 1099 statements due to IRS, Paper W-2 statements due to Social Security Administration

March 15

Calendar year corporation tax returns due, "S" corporation elections due for calendar year corporations

March 31

Electronic 1099 statements due to IRS, Electronic W-2 statements due to Social Security Administration

April 15

Individual, partnership, trust and estate returns due for calendar year taxpayers, first estimated quarterly tax payment for year due