Spring is here and we’re looking forward to enjoying the outdoors with with longer days and warmer weather! For more health and happiness, here’s a quick read on how to incorporate the outdoors into a busy workday.
Announcing…
Our DMR team has a new member and we are excited to introduce Elsie Meyer to you!
Elsie joined us last fall and has been training with our Accounting and Bookkeeping Services Team on our time tested DMR procedures. She will complete her Associate Degree in Accounting and Full Charge Bookkeeping from Austin Community College this July.
Elsie’s prior experiences in bookkeeping, project management, and data analysis make her a great addition to our Accounting and Bookkeeping Services team. We are thrilled to be working with Elsie!
For all of our current and future accounting and bookkeeping services clients, it is important that you to know about our company-wide cross-training initiative. This training takes place at no charge to our clients which is a win-win for both for the professional development of each DMR team member, and most importantly, for each of our client organizations.
Teamwork makes the Dream Work! After all the uncertainty we have collectively experienced in the last few years, we are proud to provide you with a highly qualified and experienced team that work together harmoniously and seamlessly to make your life easier.
Continual cross-training is another way we go Above and Beyond for you.
Did you know…?
Texas has an Unclaimed Property Day. Read more about it here and feel free to ask your DMR bookkeeper if you have questions or would like assistance in the future.
Tax Deadlines…
For your convenience, here is a list of the upcoming deadlines:
Individual Federal Tax Returns (IRS Form 1040)
These are due by Friday, April 15, 2022. For an automatic extension, file Form 4868, and deposit estimated tax by the same date. The extension is only for filing the return. You must submit an estimated payment amount by April 15, 2022, if you expect to owe additional income tax.
2022 Estimated Tax Payment Due Dates
Form 1040-ES, Estimated Tax for Individuals
| Payment Period | Due Date |
|---|---|
| January 1 – March 31, 2022 | Friday, April 15, 2022 |
| April 1 – May 31, 2022 | Wednesday, June 15, 2022 |
| June 1 – August 31, 2022 | Thursday, September 15, 2022 |
| September 1 – December 31, 2022 | January 15* of the following year. *See January payment in Chapter 2 of Publication 505, Tax Withholding and Estimated Tax |
| Fiscal-Year Taxpayers | If your tax year doesn’t begin on January 1, see the special rules for fiscal year taxpayers in Chapter 2 of Publication 505 |
C-Corporation returns (IRS Form 1120)
These are due Friday, April 15, 2022. The extended deadline is October 15, 2022. If an entity operates on a fiscal year rather than a calendar year, the return is due on the 15th day of the fourth month following the end of the fiscal year.
Form 1120, U.S. Corporation Income Tax Return
Texas Franchise Tax
Annual Texas franchise tax reports are due Monday, May 16, 2022. When tax due dates fall on a weekend or holiday, the due date will be the next business day. There are distinctions between Non-EFT and EFT Franchise Taxpayers. You can see more information on the Texas Comptroller tax page.
IMPORTANT NOTE: Be sure to file this report on time even if you are only required to file a NO TAX DUE Report.
Otherwise, the state will fine you with a $50 penalty and no one ever wants to pay extra taxes, especially for missing a silly deadline!
Non-profit Organization Tax Returns (IRS Form 990)
Tax-exempt organizations need to file their return by Monday, May 16, 2022. The extended deadline is November 15, 2022.
Our team is here to help you through this spring season (and all seasons year-round) so that you can rest and enjoy life knowing that your finances are solid and reliable.
Please reach out to your current DMR bookkeeper if you have any questions.
We encourage you to contact Carrie Jareed, our Virtual Client Services Coordinator at csc@dmraccounting.com, or reach out to us via our DMR Client Online Solutions Box anytime. Your feedback is welcome!
We know you have choices when it comes to meeting your business and accounting needs.
Thank you for choosing DMR Accounting & Consulting!
DMR Accounting & Consulting – Our Purpose and Values
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