Information & Resources
Below you will find information and links related to the most frequently asked questions. This is not all inclusive, and if you have an issue that is not addressed here, please feel free to contact us.
Business Mileage for 2013
Social Security Wage Base
Forms
Affordable Care Act (ACA) Tax Provisions
"The Affordable Care Act (ACA), or health care law, contains many tax and other provisions for employers. The IRS administers the tax provisions included in the law. Visit HealthCare.gov and SBA.gov/healthcare for more information on other provisions."
Links to Federal & State Sites:
Property Taxes:
Retirement Contributions for 2014*
$17,500
$23,000 (age 50 and over)
$5,500
$6,500 (age 50 and over)
*see links for additional information
Standard Mileage Rates for 2013
Social Security Wage Base
Gift & Estate Limits
706 required for estates with combined gross assets and prior taxable gifts exceeding
Gift Tax - Annual Exclusion
Links to Federal & State Sites:
Property Taxes
Charitable Organizations (non-cash goods)
Selected tax due dates are listed below. Please check the IRS website or with your state and local taxing authorities if you need additional information.
November 2013
11/15
- 941 deposit (monthly depositors)**
11/20
- TN Sales & Use Tax Return (monthly filers)
December 2013
12/16
- 1120 4th quarter estimated payment (calendar year end corps)
- 941 deposit (monthly depositors)**
12/20
- TN Sales & Use Tax Return (monthly filers)
January 2014
1/15
- 1040 4th quarter estimated payment
- 941 deposit (monthly depositors)**
1/20
- TN Sales & Use Tax Return (monthly filers)
1/31
- Form 941 Employer's Quarterly Federal Tax Return
- Form 940 Employer's Annual Federal Unemployment (FUTA) Tax Return
- Form 943 Employer's Annual Federal Tax Return for Agricultural Employees
- Form 945 Annual Return of Withheld Federal Income Tax
- Form W-2 - copies B,C & 2 must be provided to employees
- Form 1099-Misc - copy B must be provided to recipient
Burden of Proof
"The responsibility to prove entries, deductions, and statements made on your tax returns is known as the burden of proof. You must be able to prove (substantiate) certain elements of expenses to deduct them." - Internal Revenue Service
Below are selected suggested retention periods for certain tax documents. For IRS guidelines, please see Publication 552 for Individuals and Publication 583 for businesses.
Forever
- Tax returns and related source documents
- Tax correspondence
- Payroll records (including 941s, 940s, SUTA returns & W-2s)
- Financial statements and general ledgers
- Organizational documents, stock certificates, and annual meeting minutes
- Retirement/Pension records
7 years
- Bank statements, reconciliations, and related canceled checks and deposit slips
- Customer invoices and related accounts receivable records
- Invoices paid and related accounts payable records