News


The Search for Great Rewards- 7 Credit Cards You Should Know About

10

Jan 2014

The Search for Great Rewards- 7 Credit Cards You Should Know About

We went on a hunt to find credit cards with the best rewards programs for you. Through the help of some online articles, we uncovered the top picks and perks to benefit your wallet. All of the cards listed have a low interest rate or APR and no annual fee. Whether you’re looking to make a big purchase in the near future, or just add…

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January 2014 Tax Deadlines

09

Jan 2014

January 2014 Tax Deadlines

  Even though the IRS will start accepting tax returns starting January 31, 2014, there are still some major tax deadlines for January.   January 15 – Fourth quarter estimated tax payments are due.   January 31 – All employers must distribute W-2s and 1099s to employees and independent contractors.   January 31 – Payroll Returns: Form 941 (Fourth Quarter Payroll Tax) and Form 940…

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09

Jan 2014

2013 Income Tax Returns: Will You Need To File?

If you fall under any of the categories below, you are required to file a 2013 Income tax Return Single Taxpayers – Taxpayers who are under age 65 and have gross income of at least $10,000 must file a 2013 tax return. If you are over age 65 and have gross income of $11,500 you must file a 2013 tax return.   Married Filing Jointly…

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31

Dec 2013

Paragon January Business Newsletter

Built-in Gains Tax Tax relief extended for 2013 When a C corporation converts to an S corporation, it is subject to an extra set of tax rules. Although the conversion itself is not a taxable event, assets held at the time of conversion when sold during a certain time frame are subject to an extra tax. This time frame is called the recognition period, and…

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Paragon January Individual Newsletter

27

Dec 2013

Paragon January Individual Newsletter

Certain Tax Provisions Set to Expire at the End of 2013….Will you feel the effects? On January 2, 2013, President Obama signed The American Taxpayer Relief Act into law. This bill is over 150 pages and retroactively extends many of the sunset provisions as well as permanently patching Alternative Minimum Tax (AMT). However, the following items were only extended until December 31, 2013, and without…

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Getting Your Business Taxes in Order…

24

Dec 2013

Getting Your Business Taxes in Order…

Your form of business determines which income tax return form you’re going to have to file. California businesses are subject to a franchise tax, corporation income tax, and/or an alternative minimum tax. Below are the types of typical California businesses and how to file: Sole proprietorship– owning an unincorporated business on your own (husband and wife/ domestic partnerships included): You will file your business income…

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Dodging Unnecessary Penalties in the Small Business World

23

Dec 2013

Dodging Unnecessary Penalties in the Small Business World

Our Step-By-Step Instructions below were accessed from the IRS website: IRS Website 1099 Instructions For further information, this website is available with the Internal Revenue Service’s breakdown of all necessary payments and forms- of course, so are we! The article below has helpful tips for filing 1099 forms for all independent contractors, you can always contact Paragon for the help you need. As the end…

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The 2014 Tax Season Has Arrived!

23

Dec 2013

The 2014 Tax Season Has Arrived!

Mark your calendars, January 31st is the official date- the Internal Revenue Service has announced that they will be processing and filing tax returns, just a little later than planned thanks to the government shutdown we experienced in October. So what does this mean for us? Basically, your refunds are going to be issued later. The IRS wants to make it very clear that it…

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