Tax & Financial News

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    Important Tax Deadlines

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    2017 individual quarterly estimated Federal tax payments are due September 15, 2017 and January 15, 2018 for the remainder of the year. The extended business tax deadline is September 15, 2017 and the extended individual tax deadline is October 16, 2017. In order to meet …

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    2017 UCM Engagement Letters

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    Please note that the 2017 UCM client engagement letters will be issued electronically this year.

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    Non-Profit News

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    We would like to inform you of some important topics applicable to not-for-profit organizations. First, we remind you of state registration requirements if your organization solicits donations: Charitable Solicitation Registration and Compliance – Charitable solicitation is regulated at the state-level. Virginia requires charitable solicitation registration …

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    IMPORTANT! Mail Scam Targets Taxpayers

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    Crooks have tried all sorts of e-mails scams, but almost everyone has figured out that the IRS does not send out notices by e-mail or email attachments. So crooks have changed their tactics. Now, there are reports of taxpayers receiving by mail and email fake …

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    Roth IRAs for High Income Taxpayers

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    If you are a high-income taxpayer and would like to contribute to a Roth IRA but cannot because of income limitations, there is a work-around that will allow you to fund a Roth IRA. The income limitations can be circumvented by what is frequently referred …

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    Are you required to file 1099’s?

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    If you use independent contractors in your business and pay them $600 or more during the calendar year, you are required to issue them a 1099-MISC by January 31 of the following year. If you fail to do so and your income tax return is …

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    What If I can’t make a payroll tax deposit?

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    When you as an employer withhold Social Security and income taxes from an employee, those funds are the property of the government, and you as the employer must hold those funds in “trust” until the funds are turned over to the government. Failure to do …

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    2014 QuickBooks Updates and Year-End Closing

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    2014 QuickBooks Updates Intuit will be retiring their support for the 2014 version of QuickBooks in June of 2017.  Based on this, UCM’s support, both general and technical, will also be limited for versions older than 2015.  The limitations will affect our ability to share …

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