In This Issue
Teachers: Those school expenses might be tax deductible
Did you receive unemployment this year?
It's side income, but is it a business?
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September 15
* Individuals 
Taxpayers who file IRS Form 1040-ES must file and pay their third-quarter tax estimate.

* Businesses 
Corporations that requested a 6-month extension must file Form 1120S

September 2020

Whether it's kids going back to school or learning from home, September provides families with a welcome return to structure and schedules. Here at Tax & Accounting Solutions, planning and timetables are part of normal business - even during a pandemic. Please contact us if you need help with tax planning during this most-unusual year.
Teachers: Those school expenses might be tax deductible 

School may look a little different this year, but eligible teachers and other educators can still deduct certain unreimbursed expenses on their tax return next year.   > Here's how much
Did you receive unemployment this year?

Workers who received unemployment income, worked two jobs, or didn't work part of the year may want to file a new W-4 to make sure the IRS isn't withholding too much or too little from their paychecks.   > Estimating is easy
It's side income but is it a business?

Taxpayers must include income earned from hobbies on their tax return, but only businesses can deduct the expenses incurred while conducting business. The IRS has guidelines. > Is it a hobby or a business?

Questions about your business bookkeeping? Call our office at 505-984-0646 to schedule an appointment.