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Free 2012 Tax Forms

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Free 2012 Tax Forms

Free 2012 tax forms Publication 179 - Main Content Table of Contents 1. Free 2012 tax forms ¿Quién es patrono? 2. Free 2012 tax forms ¿Quiénes son empleados?Empleados arrendados. Free 2012 tax forms Condiciones. Free 2012 tax forms Vendedores directos. Free 2012 tax forms Agentes de bienes inmuebles autorizados. Free 2012 tax forms Personas a quienes se les paga por acompañar y posiblemente cuidar a otras. Free 2012 tax forms Especialista en servicios técnicos. Free 2012 tax forms Personas que supervisan pruebas y aulas. Free 2012 tax forms Negocio que pertenece y es administrado por los cónyuges 3. Free 2012 tax forms Número de identificación patronal (EIN) 4. Free 2012 tax forms Número de Seguro Social (SSN) 5. Free 2012 tax forms Salarios y otra compensaciónCompensación por enfermedad Retención y declaración de la contribución sobre beneficios marginales proporcionados a los empleados 6. Free 2012 tax forms PropinasRegla de disposición. Free 2012 tax forms 7. Free 2012 tax forms Contribución al Seguro Social y al seguro Medicare por trabajo agrícola 8. Free 2012 tax forms Contribución al Seguro Social y al seguro Medicare por trabajo domésticoTransportación (beneficios de transporte). Free 2012 tax forms Estados o territorios con reducción en el crédito. Free 2012 tax forms 9. Free 2012 tax forms Cálculo de las contribuciones al Seguro Social, al seguro Medicare y al FUTA Patronos domésticos y agrícolas. Free 2012 tax forms 10. Free 2012 tax forms Pagos y depósitos de la contribución federal para el desempleo (la contribución FUTA) 11. Free 2012 tax forms Depósito de las contribuciones al Seguro Social y al seguro  Medicare Requisito de los $2,500. Free 2012 tax forms Ejemplo. Free 2012 tax forms Patronos nuevos. Free 2012 tax forms Ejemplo de las reglas de depósito de itinerario mensual y bisemanal para patronos de empleados no agrícolas. Free 2012 tax forms Ejemplo de las reglas de depósito de itinerario mensual y bisemanal para patronos de empleados agrícolas. Free 2012 tax forms Ejemplo de itinerario mensual. Free 2012 tax forms Ejemplo de itinerario bisemanal. Free 2012 tax forms Ejemplo. Free 2012 tax forms Cómo hacer los depósitos 12. Free 2012 tax forms Planillas para patronosCrédito especial para un patrono sucesor. Free 2012 tax forms Declaración de los ajustes a los Formularios 941-PR, 944(SP) o 943-PR Ajustes de períodos anteriores 13. Free 2012 tax forms Los Formularios 499R-2/W-2PR y W-3PRSolicitud de exención de radicación de declaraciones informativas por medios electrónicos. Free 2012 tax forms 14. Free 2012 tax forms Retención de la contribución federal sobre ingresos 1. Free 2012 tax forms ¿Quién es patrono? Es patrono toda persona u organización para quien un individuo presta servicios como empleado. Free 2012 tax forms El patrono tiene derecho a despedir al empleado y suele proveer los medios y el lugar de trabajo. Free 2012 tax forms El término incluye a toda persona u organización que pague salarios a un ex empleado después de que éste deje el empleo. Free 2012 tax forms Líder de cuadrilla agrícola. Free 2012 tax forms   Se le considera un patrono de empleados agrícolas si usted es líder de cuadrilla. Free 2012 tax forms Un líder de cuadrilla es una persona que procura y paga (en nombre del operador de una granja o en nombre suyo propio) a trabajadores que prestan servicios agrícolas para el operador de una granja. Free 2012 tax forms Si no hay un acuerdo escrito entre usted y el operador de la granja que indique que usted es su empleado, y si usted le paga a los trabajadores (por usted o por el operador de una granja), entonces, se le considera un líder de cuadrilla. Free 2012 tax forms 2. Free 2012 tax forms ¿Quiénes son empleados? Por lo general, todo empleado se define de acuerdo con las leyes de derecho común (consuetudinario) o con las reglas especiales para ciertas situaciones. Free 2012 tax forms Este apartado le explica dichas categorías. Free 2012 tax forms Vea la explicación en la Publicación 15-A, Employer's Supplemental Tax Guide (Guía contributiva suplemental para patronos), en inglés, bajo el apartado 2, titulado Employee or Independent Contractor? (¿Empleado o contratista independiente?), el cual indica las distinciones entre un contratista independiente y un empleado y también da ejemplos de varias clases de ocupaciones y profesiones. Free 2012 tax forms Si una persona que trabaja para usted no es su empleado según las reglas que prescriben lo que es un empleado de acuerdo al derecho común (explicado más adelante), no tendrá que retenerle al individuo las contribuciones federales sobre la nómina. Free 2012 tax forms Generalmente, las personas que trabajan por cuenta propia no son empleados. Free 2012 tax forms Por ejemplo, médicos, abogados, veterinarios y otros en comercio independiente en donde ofrecen sus servicios al público en general no son empleados. Free 2012 tax forms Sin embargo, si la empresa se incorpora, los funcionarios de la empresa que trabajan en la empresa son sus empleados. Free 2012 tax forms Si una relación patrono-empleado existe, no importa cómo se llame. Free 2012 tax forms El empleado puede ser llamado un agente o contratista independiente. Free 2012 tax forms Además, no importa cómo se calculan o se efectúan los pagos, lo que se les llama o si el empleado trabaja a tiempo completo o parcial. Free 2012 tax forms Definición de empleado según el derecho común. Free 2012 tax forms   Por regla general, el trabajador que preste servicios para usted es un empleado suyo si usted tiene todo el control, tanto en lo referente a lo que debe hacer como a la manera de hacerlo. Free 2012 tax forms No importa que le permita al empleado amplia facultad y libertad de acción. Free 2012 tax forms Si usted tiene el derecho legal de determinar el resultado de los servicios y la manera en que los mismos se prestan, la persona es un empleado suyo. Free 2012 tax forms Para una explicación de los hechos y circunstancias que indican si una persona que le presta servicios a usted es un contratista independiente o empleado, vea la Publicación 15-A, en inglés. Free 2012 tax forms   Si la relación patrono-empleado existe, no tiene importancia el nombre ni la descripción que se le dé a cada persona en dicha relación. Free 2012 tax forms Lo que sí tiene importancia respecto a la clasificación del empleado es la esencia de la relación laboral. Free 2012 tax forms Además, tampoco importa si la persona trabaja a jornada completa o parcial. Free 2012 tax forms   Para propósitos de las contribuciones sobre la nómina, no se establece distinción entre las clases de empleados. Free 2012 tax forms Los superintendentes, gerentes y otros supervisores son empleados. Free 2012 tax forms Por lo general, un funcionario de una corporación es un empleado; sin embargo, un funcionario que no presta servicios o que presta solamente servicios de menor importancia y que no recibe ni tiene derecho a recibir remuneración no se le considera empleado. Free 2012 tax forms Un director de una corporación, en su capacidad como tal, no es un empleado de la misma. Free 2012 tax forms   Usted, por regla general, tiene que retener y pagar las contribuciones al Seguro Social y al Medicare de los salarios que paga a las personas que son sus empleados de acuerdo al derecho común. Free 2012 tax forms Sin embargo, los salarios de ciertos empleados podrían estar exentos de una o más de estas contribuciones. Free 2012 tax forms Vea las Instrucciones para el Formulario 1040-PR para leer una explicación sobre empleados de organizaciones exentas de contribución y de instituciones religiosas. Free 2012 tax forms Empleados arrendados. Free 2012 tax forms   En ciertos casos, una empresa que facilita trabajadores a otras personas y empresas profesionales es el patrono de esos trabajadores para efectos de las contribuciones sobre la nómina. Free 2012 tax forms Por ejemplo, una empresa que ofrece servicios profesionales temporeros puede suministrar los servicios temporeros de secretarias, enfermeras y otros trabajadores afines a sus clientes contratados. Free 2012 tax forms   Dicha empresa de servicios contrata a sus clientes (suscriptores) y éstos especifican qué servicios desean recibir y los honorarios o remuneraciones que van a pagar a la empresa de servicios por cada trabajador facilitado. Free 2012 tax forms La empresa de servicios tiene el derecho de controlar y dirigir los servicios del trabajador prestados al cliente (suscriptor), incluyendo el derecho de despedir o destinar nuevamente al trabajador. Free 2012 tax forms La empresa de servicios profesionales contrata a los trabajadores, regula el pago de sus salarios y los ampara con el seguro (compensación) por desempleo. Free 2012 tax forms También les suministra otros beneficios de empleo. Free 2012 tax forms Dicha empresa es entonces el patrono para propósitos de las contribuciones sobre la nómina. Free 2012 tax forms Contratistas independientes. Free 2012 tax forms   Las personas físicas, tales como doctores, veterinarios y subastadores que ejercen u operan una profesión, negocio u oficio independiente mediante el cual ofrecen sus servicios al público, por lo general, no son empleados. Free 2012 tax forms Sin embargo, la determinación sobre si tales personas son empleados o contratistas independientes depende de las circunstancias de cada caso individualmente. Free 2012 tax forms La regla general establece que una persona es contratista independiente si usted, es decir, la persona para quien los servicios se llevan a cabo, tiene el derecho de controlar o dirigir únicamente el resultado del trabajo y no los métodos ni las maneras usadas para obtener el resultado. Free 2012 tax forms Empleados estatutarios. Free 2012 tax forms   Hay algunas definiciones especiales de empleado para propósitos de las contribuciones al Seguro Social, Medicare y FUTA. Free 2012 tax forms   Aunque las personas descritas a continuación no sean empleados de acuerdo con el derecho común, serán considerados empleados para los efectos de las contribuciones al Seguro Social y al Medicare si reúnen cada una de las Condicionesdescritas más adelante. Free 2012 tax forms a. Free 2012 tax forms Un chofer-agente (o comisionista) que distribuye alimentos o bebidas (excepto leche) o que recoge y entrega ropa lavada y planchada o lavada en seco para otra persona. Free 2012 tax forms b. Free 2012 tax forms Un vendedor-agente de seguros de vida y/o contratos de anualidades que trabaja a jornada completa y que vende principalmente para una sola empresa. Free 2012 tax forms c. Free 2012 tax forms Una persona que trabaja en casa conforme a las pautas recibidas de la persona para quien presta los servicios, utilizando los materiales suministrados por dicha persona, los cuales debe devolver a dicha persona o a otra persona designada por ella. Free 2012 tax forms d. Free 2012 tax forms Un vendedor local o ambulante (excepto un chofer-agente o un chofer-comisionista) que trabaja a tiempo completo (excepto por ventas incidentales) para una persona o negocio tomando pedidos hechos por clientes. Free 2012 tax forms Los pedidos tienen que ser para mercancías para la reventa o de materiales usados en la profesión u ocupación del cliente. Free 2012 tax forms Dichos clientes deberán ser detallistas, mayoristas, contratistas u operadores de hoteles, restaurantes u otro tipo de negocio relacionado con alimentos o alojamiento. Free 2012 tax forms Condiciones. Free 2012 tax forms   Reténgale al empleado estatutario las contribuciones al Seguro Social y al seguro Medicare sobre las remuneraciones pagadas si las tres condiciones siguientes le corresponden: De acuerdo a un contrato vigente, se entiende que casi todos los servicios serán prestados personalmente por dicho empleado. Free 2012 tax forms El empleado no ha invertido sustancialmente en el equipo ni en las instalaciones usadas para prestar dichos servicios (excepto en las instalaciones de transporte). Free 2012 tax forms Los servicios son de una naturaleza tal que conllevan una relación continua con la misma persona que le paga. Free 2012 tax forms    Contribución al fondo federal para el desempleo (FUTA). Free 2012 tax forms Las personas que se encuentran en la categoría a o d, anteriormente, son también empleados para fines de la contribución al fondo federal para el desempleo (FUTA), mientras satisfagan las condiciones 1 a la 3. Free 2012 tax forms Individuos que no son empleados estatutarios. Free 2012 tax forms   La ley clasifica a tres categorías de individuos que no son empleados estatutarios, es decir, ciertos vendedores directos, agentes de bienes raíces autorizados y ciertas personas a quienes se les paga por acompañar y posiblemente cuidar a otras personas. Free 2012 tax forms A los vendedores directos y los agentes de bienes raíces se les trata generalmente como personas que trabajan por cuenta propia para propósito de todas las contribuciones federales, incluyendo las contribuciones por razón del empleo, si: Gran parte de todos los pagos por sus servicios como vendedores directos o agentes de bienes raíces autorizados se relacionan directamente con las ventas o actividades similares, en lugar de las horas que trabajan y Los servicios que prestan se hacen conforme a un contrato por escrito que estipula que no serán tratados como empleados para propósito de las contribuciones federales. Free 2012 tax forms Vendedores directos. Free 2012 tax forms   Los vendedores directos incluyen a las personas que se encuentran en cualesquiera de los tres grupos siguientes: Personas que trabajan en la venta de (o en solicitar la venta de) artículos de consumo en el hogar o en el lugar de operación que no sea un establecimiento permanente de ventas al detal. Free 2012 tax forms Personas que trabajan en la venta de (o en solicitar la venta de) artículos de uso y consumo a todo comprador a base de compras y ventas, a base de depósito de comisiones o a otra base similar prescrita por los reglamentos para que dichos artículos sean revendidos en el hogar o en el lugar de operación que no sea un establecimiento permanente de ventas al detal. Free 2012 tax forms Personas que se dedican a la ocupación o negocio de entregar o distribuir periódicos o anuncios de compras (incluyendo todo servicio relacionado directamente con tal entrega o distribución). Free 2012 tax forms   El negocio de ventas directas incluye las actividades de individuos que tratan de aumentar las actividades de ventas directas por parte de sus vendedores directos y cuyos ingresos derivados del trabajo se basan en la productividad de dichos vendedores. Free 2012 tax forms Tales actividades incluyen la provisión de estímulo y motivación; la comunicación y transmisión de pericia, conocimiento o experiencia; y reclutamiento. Free 2012 tax forms Agentes de bienes inmuebles autorizados. Free 2012 tax forms   Esta categoría incluye a los individuos que se dedican a las actividades de tasación y valoración de ventas de bienes inmuebles si ellos mismos reciben ingresos del trabajo basados en las ventas o en otras actividades afines. Free 2012 tax forms Personas a quienes se les paga por acompañar y posiblemente cuidar a otras. Free 2012 tax forms   Las personas a quienes se les paga por acompañar y posiblemente cuidar a otras son individuos que proveen atención personal, compañía o servicios de guardería a niños o a individuos de edad avanzada o incapacitados. Free 2012 tax forms Una persona que se dedica a la ocupación o negocio de vincular a estos proveedores de compañía o cuidado con las personas que desean emplearlos no será tratada como patrono de los proveedores de compañía o cuidado si esa persona no recibe ni paga los salarios de los proveedores de compañía o cuidado y es compensada por los proveedores de compañía o cuidado o por las personas que los emplean por medio de una base de cargos. Free 2012 tax forms Para propósitos de todas las contribuciones federales, se consideran empleados por cuenta propia aquellas personas a las que se les paga por acompañar y posiblemente cuidar a otras y que no trabajan para un servicio de colocación de dichas personas. Free 2012 tax forms Clasificación errónea de empleados. Free 2012 tax forms   Si clasifica a un empleado como si no fuera empleado y no le retuvo a tal empleado las contribuciones al Seguro Social y al seguro Medicare, usted será responsable de pagar dichas contribuciones. Free 2012 tax forms Vea en la Publicación 15 el tema titulado Treating employees as nonemployees (Trato de empleados como personas que no son empleados), en inglés, bajo el tema Who Are Employees? (¿Quiénes son empleados?), en inglés, para detalles sobre la sección 3509 del Código Federal de Rentas Internas. Free 2012 tax forms Disposiciones de exención. Free 2012 tax forms   Si tiene motivos razonables para no tratar a un empleado como si fuera su empleado, quizás podría recibir una exención para no pagar las contribuciones por razón del empleo para dicha persona. Free 2012 tax forms Para obtener esta exención del pago de las contribuciones, deberá radicar todas las planillas federales de información de una manera uniforme con respecto a la forma en que clasifica al trabajador. Free 2012 tax forms En todo período que haya comenzado después de 1977, usted (el patrono), o su predecesor, no pudo haber clasificado como empleado a ningún trabajador que ocupe o haya ocupado una posición casi igual a la del trabajador en cuestión. Free 2012 tax forms Especialista en servicios técnicos. Free 2012 tax forms   Esta exención no se le aplica a un especialista en servicios técnicos que usted le provee a otro negocio de acuerdo con un arreglo entre usted y el otro negocio. Free 2012 tax forms Un especialista en servicios técnicos es un ingeniero, diseñador, dibujante, especialista en informática, analista de sistemas o algún otro trabajador de talento o habilidad semejante que realice trabajos similares. Free 2012 tax forms   Esta regla no afectará la determinación sobre si el especialista en servicios técnicos es un empleado de acuerdo con el derecho común. Free 2012 tax forms Las reglas para la ley común determinan si el especialista en servicios técnicos es tratado como empleado o como contratista independiente. Free 2012 tax forms Sin embargo, si contrata directamente a un especialista en servicios técnicos para que desempeñe servicios para su negocio (el de usted) en vez de trabajar para un negocio ajeno, quizás podría tener derecho aún a la exención. Free 2012 tax forms Vea el apartado 2, titulado Employee or Independent Contractor? (¿Empleado o contratista independiente?) en la Publicación 15-A, en inglés. Free 2012 tax forms Personas que supervisan pruebas y aulas. Free 2012 tax forms   El requisito de trato uniforme no se le aplica a un individuo que presta servicios después del 31 de diciembre de 2006 supervisando el aula donde se aplica una prueba de acceso (entrada) o de colocación en una institución académica de enseñanza superior (universitaria) o que sirve como monitor de dichas pruebas si el individuo: Está prestando servicios para una organización descrita en la sección 501(c) exenta de impuestos conforme a la sección 501(a) del Código Federal de Rentas Internas y No se le considera de otro modo como empleado de la organización para propósitos de las contribuciones sobre la nómina. Free 2012 tax forms Ayuda provista por el IRS. Free 2012 tax forms   Para más información, comuníquese con nuestra oficina en Guaynabo. Free 2012 tax forms Si desea que el IRS le haga la determinación acerca de la categoría de empleo de un trabajador suyo, radique el Formulario SS-8PR, Determinación del Estado de Empleo de un Trabajador para Propósitos de las Contribuciones Federales Sobre el Empleo, disponible en español. Free 2012 tax forms Puede obtener un ejemplar de este formulario llamando al 1-800-829-3676 o visitando el sitio web del IRS www. Free 2012 tax forms irs. Free 2012 tax forms gov/espanol. Free 2012 tax forms Programa para el acuerdo de clasificación voluntaria de trabajadores (VCSP, por sus siglas en inglés). Free 2012 tax forms   Los patronos quienes en la actualidad tratan a sus trabajadores (o a una clase o grupo de trabajadores) como contratistas independientes o como otros trabajadores que no son empleados y que desean reclasificar de manera voluntaria a sus trabajadores como empleados para períodos contributivos futuros quizás podrían tener derecho a participar en el programa para el acuerdo de clasificación voluntaria de trabajadores (conocido en inglés como Voluntary Classification Settlement Program o VCSP, por sus siglas en inglés), si éstos reúnen ciertos requisitos. Free 2012 tax forms Si desea solicitar, utilice el Formulario 8952, Application for Voluntary Classification Settlement Program (VCSP) (Solicitud del programa para el acuerdo de clasificación voluntaria de trabajadores), en inglés. Free 2012 tax forms Si desea más información, visite IRS. Free 2012 tax forms gov e y escribba la frase “VCSP” en la casilla Search (Buscar). Free 2012 tax forms La información está disponible en inglés. Free 2012 tax forms Negocio que pertenece y es administrado por los cónyuges Si usted y su cónyuge son dueños de un negocio, lo operan conjuntamente y comparten las ganancias y pérdidas, ustedes son socios en una sociedad colectiva, independientemente de si tienen o no un acuerdo formal de sociedad. Free 2012 tax forms Vea la Publicación 541, Partnerships (Sociedades colectivas), en inglés, para más detalles. Free 2012 tax forms La sociedad colectiva es considerada el patrono de todo empleado y es responsable por todas las contribuciones sobre la nómina que se adeuden sobre salarios pagados a sus empleados. Free 2012 tax forms Excepción: Negocio en participación calificado. Free 2012 tax forms   Si usted y su cónyuge participan de manera considerable como los únicos socios o miembros de un negocio tenido y operado conjuntamente y radican un Formulario 1040-PR, Planilla para la Declaración de la Contribución Federal sobre el Trabajo por Cuenta Propia (Incluyendo el Crédito Contributivo Adicional por Hijos para Residentes Bona Fide de Puerto Rico), en conjunto para el año contributivo, pueden elegir que se les grave contribución como si fueran un negocio en participación calificado en vez de sociedad colectiva. Free 2012 tax forms Vea las Instrucciones para el Formulario 1040-PR. Free 2012 tax forms Los matrimonios que eligen ser tratados como un negocio en participación calificado son tratados como empresarios por cuenta propia para propósitos contributivos. Free 2012 tax forms Cualesquiera de los cónyuges que son empresarios por cuenta propia puede radicar y pagar las contribuciones sobre la nómina que se adeudan de los salarios de los empleados utilizando el EIN de la empresa por cuenta propia del cónyuge. Free 2012 tax forms Para obtener más información sobre negocios en participación calificados, visite el sitio web IRS. Free 2012 tax forms gov y escriba “ Qualified Joint Venture ” en el encasillado de búsqueda. Free 2012 tax forms La información está disponible en inglés. Free 2012 tax forms 3. Free 2012 tax forms Número de identificación patronal (EIN) El número de identificación patronal (EIN, por sus siglas en inglés) es un número que consta de nueve dígitos que el IRS expide a los patronos. Free 2012 tax forms Los dígitos están organizados de la siguiente manera: 00-0000000. Free 2012 tax forms Dicho número se usa para identificar las cuentas contributivas de los patronos, así como las de ciertos negocios y otras organizaciones y entidades que no tienen empleados. Free 2012 tax forms Debe anotar el EIN en toda planilla, anexo y correspondencia relacionada con su negocio que envíe al IRS y a la SSA. Free 2012 tax forms Si no tiene un EIN, puede solicitarlo a través de Internet. Free 2012 tax forms Acceda a IRS. Free 2012 tax forms gov y pulse sobre el enlace “Apply for an EIN Online” (Solicitar un EIN en línea), que se encuentra bajo Tools (Herramientas). Free 2012 tax forms O, puede enviar por correo o por fax el Formulario SS-4PR, Solicitud de Número de Identificación Patronal (EIN), al IRS. Free 2012 tax forms Si no tiene un EIN para la fecha de vencimiento para radicar la planilla, radique una planilla en papel y escriba “Solicitado” y la fecha de su solicitud en el espacio para tal número. Free 2012 tax forms Si usted adquirió el negocio de otro patrono, no utilice el número asignado a éste último. Free 2012 tax forms No utilice un número de Seguro Social (SSN) en lugar de un número de identificación patronal (EIN). Free 2012 tax forms Usted deberá tener solamente un EIN. Free 2012 tax forms Si tiene más de uno, escriba a la oficina del IRS donde radica sus planillas a la dirección a la cual envía las planillas “sin un pago”, la cual aparece en las instrucciones para el Formulario 941-PR, Formulario 944(SP) o Formulario 943-PR. Free 2012 tax forms O llame a la Línea para asuntos relacionados con las contribuciones de negocios y contribuciones especiales del IRS al 1-800-829-4933. Free 2012 tax forms Las personas sordas, quienes tienen limitación auditiva o impedimentos del habla (los usuarios del sistema TDD/TTY) pueden llamar al 1-800-829-4059. Free 2012 tax forms Un empleado del IRS le indicará cuál EIN debe utilizar. Free 2012 tax forms Para mas información, vea la Publicación 1635, Employer Identification Number: Understanding Your EIN (Número de identificación patronal: Información para entender su EIN) o la Publicación 583, Starting a Business and Keeping Records (Cómo montar un negocio y mantener documentación), ambas en inglés. Free 2012 tax forms 4. Free 2012 tax forms Número de Seguro Social (SSN) El número de Seguro Social (SSN, por sus siglas en inglés) de un empleado consta de nueve dígitos, organizados de la manera siguiente: 000-00-0000. Free 2012 tax forms Tiene que tener el nombre y SSN de cada empleado e incluirlos correctamente en el Formulario 499R-2/W-2PR que le prepare. Free 2012 tax forms De no ser así, podría estar sujeto a pagar una multa, a menos que tenga una causa razonable. Free 2012 tax forms Vea la Publicación 1586, Reasonable Cause Regulations & Requirements for Missing and Incorrect Name/TINs (Reglamentación y requisitos de causa razonable sobre nombres/números de identificación del contribuyente que faltan o están incorrectos), en inglés, para más información. Free 2012 tax forms Tarjeta de Seguro Social del empleado. Free 2012 tax forms   Deberá pedirle a cada empleado que le muestre su tarjeta de Seguro Social. Free 2012 tax forms El empleado puede mostrarle su tarjeta de Seguro Social si la tiene disponible. Free 2012 tax forms No acepte una tarjeta de Seguro Social que indique “ Not Valid for Employment ” (No válida para empleo). Free 2012 tax forms Una tarjeta con esta leyenda no permite empleo. Free 2012 tax forms Usted puede (pero no se le obliga) fotocopiar la tarjeta de Seguro Social de su empleado si éste se la muestra. Free 2012 tax forms Si un empleado no tiene una tarjeta de Seguro Social o le hace falta una nueva, el empleado deberá solicitarla usando el Formulario SS-5-SP, Solicitud para una Tarjeta de Seguro Social, disponible en español, y presentar la documentación solicitada. Free 2012 tax forms El empleado tiene que completar y firmar el Formulario SS-5-SP; el patrono no lo puede radicar. Free 2012 tax forms Si el empleado ha superado su límite anual y de por vida para el número de tarjetas de reemplazo permitidos, se le puede pedir que proporcione una carta para acompañar el Formulario SS-5-SP. Free 2012 tax forms Si el empleado ha solicitado un SSN pero aún no lo tiene al momento de prepararle su Formulario 499R-2/W-2PR, escriba “Solicitado” en la planilla. Free 2012 tax forms Cuando el empleado reciba su SSN, radique la Copia A del Formulario 499R-2c/W-2cPR, Corrección al Comprobante de Retención, para incluir el SSN del empleado. Free 2012 tax forms Escriba correctamente el nombre y número de Seguro Social del empleado. Free 2012 tax forms   Escriba el nombre y número de Seguro Social de cada empleado, tal como aparece en su tarjeta de Seguro Social. Free 2012 tax forms Si el nombre no es el correcto tal como se muestra en la tarjeta (por ejemplo, debido a un matrimonio o divorcio), el empleado deberá solicitar una tarjeta corregida a la SSA. Free 2012 tax forms Siga usando el nombre antiguo hasta que el empleado le muestre la tarjeta de Seguro Social nueva con su nombre corregido. Free 2012 tax forms   Si la SSA expide una tarjeta de reemplazo al empleado después de que haya cambiado de nombre o una tarjeta nueva con un número de Seguro Social debido a un cambio de condición laboral de un extranjero, radique un Formulario 499R-2c/W-2cPR para corregir el nombre y número de Seguro Social indicado en el Formulario 499R-2/W-2PR que más recientemente haya radicado. Free 2012 tax forms No es necesario corregir otros años si el nombre y número de Seguro Social antiguos fueron usados para los años anteriores a su más reciente Formulario 499R-2/W-2PR. Free 2012 tax forms Dónde se obtienen los formularios para solicitar un Número de Seguro Social. Free 2012 tax forms   Para obtener un ejemplar del Formulario SS-5-SP, Solicitud para una Tarjeta de Seguro Social en español, llame al 1-800-772-1213. Free 2012 tax forms Esta persona le pedirá su código postal (ZIP code) y con esta información le informará dónde podrá obtener el Formulario SS-5-SP en una localidad cercana. Free 2012 tax forms   También, podrá acceder al sitio web de la Administración del Seguro Social (SSA por sus siglas en inglés) www. Free 2012 tax forms segurosocial. Free 2012 tax forms gov para descargar el Formulario SS-5-SP. Free 2012 tax forms Verificación de los números de Seguro Social. Free 2012 tax forms   Los patronos y los agentes de reportación autorizados pueden utilizar el Servicio de Verificación de Números de Seguro Social (conocido en inglés como, Social Security Number Verification Service o SSNVS, por sus siglas en inglés) para verificar inmediatamente hasta 10 nombres y números de Seguro Social (por cada pantalla) en una sesión. Free 2012 tax forms O, puede cargar un archivo electrónico de hasta 250,000 nombres y números de Seguro Social y, por lo general, recibirá los resultados el próximo día laborable. Free 2012 tax forms Si desea más información, visite www. Free 2012 tax forms socialsecurity. Free 2012 tax forms gov/employer/ssnv. Free 2012 tax forms htm. Free 2012 tax forms La información está disponible en inglés. Free 2012 tax forms Inscripción para el servicio SSNVS. Free 2012 tax forms   Para obtener acceso al servicio SSNVS, primero tiene que inscribirse en línea y recibir autorización de parte de su patrono. Free 2012 tax forms Para inscribirse, visite el sitio web de la SSA, www. Free 2012 tax forms ssa. Free 2012 tax forms gov/employer, en inglés, y pulse sobre el enlace “ Business Services Online ” (Servicios en línea para negocios), en inglés. Free 2012 tax forms Siga las instrucciones de inscripción y obtenga un “ User ID ” (Número de identificación de usuario) y una contraseña. Free 2012 tax forms Necesita proveer la siguiente información sobre usted y su compañía: Nombre, Número de Seguro Social, Fecha de nacimiento, Tipo de negocio, Número de identificación patronal (EIN), Nombre, dirección y número de teléfono de la compañía y Dirección de correo electrónico (email). Free 2012 tax forms   Cuando haya completado el proceso de inscripción en línea, la SSA le enviará por correo a su patrono un código de activación que sólo puede ser utilizado una sola vez. Free 2012 tax forms Tiene que ingresar el código de activación en línea para utilizar el SSNVS. Free 2012 tax forms Número de identificación personal del contribuyente (ITIN) del IRS para extranjeros. Free 2012 tax forms   No acepte un número de identificación personal del contribuyente del IRS (ITIN, por sus siglas en inglés) en lugar de un SSN para identificar a un empleado, ni para otros propósitos del trabajo. Free 2012 tax forms El ITIN es sólo para extranjeros residentes y no residentes que no pueden obtener un SSN por su estatus migratorio y que necesitan identificarse para otros propósitos de la contribución. Free 2012 tax forms Se puede identificar un ITIN porque éste consta de nueve dígitos, comienza con el número “9” y tiene un “7” o un “8” como cuarto dígito, y tiene el mismo formato que el SSN: por ejemplo, 9NN-7N-NNNN. Free 2012 tax forms Un individuo que tiene un ITIN y luego cambia su estatus migratorio en los EE. Free 2012 tax forms UU. Free 2012 tax forms tiene que obtener un SSN. Free 2012 tax forms Si la persona tiene derecho a trabajar en los Estados Unidos (y por consiguiente, en Puerto Rico), indíquele a la persona que solicite un SSN. Free 2012 tax forms No utlice un ITIN en lugar de un SSN en el Formulario 499R-2/W-2PR. Free 2012 tax forms 5. Free 2012 tax forms Salarios y otra compensación Por regla general, todos los salarios están sujetos a las contribuciones al Seguro Social, al seguro Medicare y a la contribución al fondo federal para el desempleo (contribución FUTA). Free 2012 tax forms Sin embargo, los salarios sujetos a la contribución al Seguro Social y a la contribución FUTA están limitados a un máximo anual (base salarial) que usted paga a cada empleado anualmente. Free 2012 tax forms Para el año 2014, la base salarial es $117,000. Free 2012 tax forms Una vez que haya pagado $117,000 a cierto empleado durante 2014, incluyendo propinas, no siga reteniéndole la contribución al Seguro Social sobre toda cantidad que le pague al empleado durante el resto del año. Free 2012 tax forms La base salarial para la contribución FUTA es de $7,000 para 2014. Free 2012 tax forms Toda remuneración, incluyendo propinas pagadas por servicios prestados, está sujeta a la contribución al Medicare. Free 2012 tax forms Los pagos pueden ser en efectivo o en otra forma, tal como el uso de un automóvil para uso personal. Free 2012 tax forms El término salarios incluye jornales, sueldos, vacaciones, bonificaciones, comisiones y beneficios marginales. Free 2012 tax forms No importa cómo se calculen o se hagan los pagos. Free 2012 tax forms Vea la tabla en el apartado 15 para excepciones a las contribuciones al Seguro Social, al Medicare y FUTA. Free 2012 tax forms Vea los apartados 6 y 7 para una explicación de cómo se aplican las reglas a propinas y a los trabajadores agrícolas. Free 2012 tax forms Las contribuciones al Seguro Social y al Medicare corresponden a la mayoría de los pagos de la compensación por enfermedad, incluyendo los pagos que hacen terceros pagadores, tales como compañías de seguros. Free 2012 tax forms Ciertas reglas especiales corresponden a la información de pagos de compensación por enfermedad hechos por terceros. Free 2012 tax forms Vea la explicación más adelante en este apartado, así como en la Publicación 15-A, en inglés. Free 2012 tax forms Determine el valor de remuneración en forma de especie (tales como mercancías, alojamiento y alimentos) basándose en su valor normal en el mercado. Free 2012 tax forms No obstante, vea Retención y declaración de la contribución sobre beneficios marginales proporcionados a los empleados , más adelante. Free 2012 tax forms Aparte de algunos trabajadores agrícolas y empleados domésticos, este tipo de remuneración puede estar sujeta a las contribuciones al Seguro Social, Medicare y FUTA. Free 2012 tax forms Las remuneraciones retroactivas, incluyendo aumentos retroactivos (pero no las cantidades pagadas por daños y perjuicios), se tributan como remuneraciones ordinarias para el año en que se pagan. Free 2012 tax forms Para más información sobre la declaración de las remuneraciones retroactivas a la SSA, vea la Publicación 957, Reporting Back Pay and Special Wage Payments to the Social Security Administration (Cómo declarar salarios retroactivos y pagos especiales de salarios a la Administración del Seguro Social), en inglés. Free 2012 tax forms Gastos de viaje y de representación. Free 2012 tax forms   Los pagos que usted haga a su empleado por gastos de viaje, así como por otros gastos necesarios relacionados con su negocio, se incluyen generalmente en los salarios sujetos a contribución si: a. Free 2012 tax forms   el empleado que recibe el pago no se le exige, o cuando se le exige, no presenta evidencia que justifique los gastos mediante la presentación de recibos u otros comprobantes o b. Free 2012 tax forms   usted le entrega al empleado una cantidad de dinero por adelantado para gastos relacionados con el negocio suyo y al empleado no se le exige que devuelva, o si se le exige que lo haga, no devuelve oportunamente toda cantidad sobrante que no pudo justificar por qué se quedó con ella. Free 2012 tax forms Reglas especiales para empleados agrícolas y domésticos. Free 2012 tax forms   Los salarios pagados a empleados agrícolas y domésticos están sujetos a ciertas reglas especiales para la aplicación de las contribuciones al Seguro Social, al Medicare y para el desempleo federal (FUTA). Free 2012 tax forms Vea los apartados 7 , 8 y 10 . Free 2012 tax forms Compensación por enfermedad El IRS espera cambiar la información de resumen de compensación por enfermedad pagada por un tercero y los requisitos de presentación de los salarios pagados en 2014. Free 2012 tax forms La información acerca de este cambio se incluirá en la revisión de la Pub. Free 2012 tax forms 15-A, que se espera publicar en IRS. Free 2012 tax forms gov en diciembre de 2014. Free 2012 tax forms Por regla general, la compensación por enfermedad es toda cantidad pagada conforme a un plan efectuado por la ausencia temporera del empleo de parte de un empleado, debida a lesión, enfermedad o incapacidad. Free 2012 tax forms El patrono o un tercero, tal como una compañía de seguros, puede efectuar los pagos. Free 2012 tax forms Los beneficios pagados pueden ser de duración corta o larga. Free 2012 tax forms Se muestra en el comprobante de retención frecuentemente como un porcentaje del salario normal del empleado. Free 2012 tax forms La compensación por enfermedad está sujeta, por lo general, al pago de las contribuciones al Seguro Social, al seguro Medicare y FUTA. Free 2012 tax forms La compensación por enfermedad está exenta de estas contribuciones después de 6 meses contados a partir del mes natural que el empleado trabajó por última vez para el patrono. Free 2012 tax forms En la Publicación 15-A se explican las reglas contributivas de empleo que se aplican al pago por enfermedad, beneficios por incapacidad y otros pagos similares a los empleados. Free 2012 tax forms La compensación por enfermedad pagada a un empleado por un tercero, por ejemplo, un agente fiduciario, se deberá tratar de manera especial al finalizar el año debido a que el IRS concilia los Formularios 941-PR trimestrales (o el Formulario 944(SP)) de un patrono con los Formularios 499R-2/W-2PR y W-3PR que se radican al terminar el año. Free 2012 tax forms La información que sigue a continuación le proporciona las reglas generales acerca de cómo declarar la compensación por enfermedad pagada por un tercero pagador. Free 2012 tax forms Terceros pagadores. Free 2012 tax forms   Si retiene las contribuciones al Seguro Social y al seguro Medicare de personas por las cuales no radica el Formulario 499R-2/W-2PR, deberá radicar, por separado, un Formulario W-3PR junto con un solo Formulario 499R-2/W-2PR sustituto que indique lo siguiente: escriba en el encasillado 1 del Formulario 499R-2/W-2PR “Third party sick-pay recap” (Recapitulación de compensación por enfermedad del tercero pagador), en vez del nombre del empleado, o escríbalo en el encasillado b del Formulario W-3PR, en vez del número total de Formularios 499R-2/W-2PR que envíe. Free 2012 tax forms En el encasillado 17, anote el total de la compensación por enfermedad pagada al empleado sujeta a la contribución al Seguro Social del mismo. Free 2012 tax forms En el encasillado 18, anote la cantidad de la contribución al Seguro Social retenida al empleado. Free 2012 tax forms En el encasillado 19, anote la cantidad de la compensación por enfermedad sujeta a la contribución Medicare correspondiente al empleado. Free 2012 tax forms En el encasillado 20, anote la cantidad total retenida para la contribución Medicare correspondiente al empleado (incluyendo la Contribución Adicional al Medicare, si corresponde). Free 2012 tax forms En el Formulario W-3PR que prepare por separado, llene solamente los encasillados a, b (vea la información anterior), c, d, e, 7 y del 10 al 13. Free 2012 tax forms Patronos. Free 2012 tax forms   Si tiene empleados que han recibido pagos de compensación por enfermedad procedentes de una compañía de seguros o de algún otro tercero pagador, deberá declarar en el Formulario 499R-2/W-2PR del empleado: en el encasillado 7, la cantidad total de la compensación por enfermedad que el empleado debe incluir en su ingreso; en el encasillado 13, toda contribución sobre ingresos retenida de la compensación por enfermedad pagada por el tercero pagador; en el encasillado 17, la porción de la compensación por enfermedad que esté sujeta a la contribución al Seguro Social correspondiente al empleado; en el encasillado 18, la contribución al Seguro Social correspondiente al empleado que haya sido retenida por el tercero pagador; en el encasillado 19, la compensación por enfermedad que esté sujeta a la contribución Medicare correspondiente al empleado (incluyendo la Contribución Adicional al Medicare, si corresponde) y en el encasillado 20, la contribución Medicare correspondiente al empleado retenida por el tercero pagador. Free 2012 tax forms   Si no incluye alguna parte del pago de compensación por enfermedad en el ingreso del empleado debido a que éste pagó una porción de las primas, deberá informarle al empleado la parte no incluida. Free 2012 tax forms   El patrono tiene la opción de incluir la compensación por enfermedad pagada por terceros junto con los salarios declarados en el Formulario 499R-2/W-2PR o de declarar la compensación por separado en un segundo Formulario 499R-2/W-2PR en el que indicará que la cantidad fue compensación por enfermedad pagada por un tercero. Free 2012 tax forms En ambas opciones, la Copia A de los Formularios 499R-2/W-2PR deberá ser radicada ante la SSA. Free 2012 tax forms Nota:   Si el tercero pagador no le notifica a tiempo al patrono acerca de los pagos de compensación por enfermedad, el tercero pagador, no el patrono, será responsable de radicar los Formularios 499R-2/W-2PR correspondientes a cada uno de los empleados que recibieron los pagos, así como el Formulario W-3PR. Free 2012 tax forms Para obtener mayor información sobre este tema, vea Sick Pay Reporting (Informe de pagos por enfermedad), en el apartado 6 de la Publicación 15-A, en inglés. Free 2012 tax forms Retención y declaración de la contribución sobre beneficios marginales proporcionados a los empleados Por lo general, los beneficios marginales tienen que incluirse en el ingreso bruto del empleado que los recibe y, además, los mismos están sujetos al pago de contribuciones relacionadas con el empleo. Free 2012 tax forms Los beneficios marginales incluyen los siguientes beneficios proporcionados por el patrono al empleado: el uso de un automóvil, viajes en aviones, viajes gratis (o con descuento) en líneas aéreas comerciales, vacaciones, descuentos en mercancías o servicios, membresías en clubes campestres u otro tipo de clubes, así como boletos de entrada a eventos deportivos u otra clase de entretenimiento. Free 2012 tax forms Por lo general, la cantidad que se incluye en el ingreso bruto del empleado es el exceso del valor justo de mercado del beneficio proporcionado por el patrono sobre la suma pagada por el empleado y toda cantidad excluida por ley. Free 2012 tax forms Ciertos beneficios marginales están específicamente excluidos por ley. Free 2012 tax forms Para más información sobre los beneficios marginales, vea la Publicación 15-B, Employer's Tax Guide to Fringe Benefits (Guía contributiva para patronos sobre los beneficios marginales), en inglés. Free 2012 tax forms Cuándo se tratan los beneficios marginales como pagados al empleado. Free 2012 tax forms   Puede optar por tratar ciertos beneficios marginales que no sean dinero en efectivo (incluyendo el uso personal de un automóvil proporcionado por usted) como pagados durante el período regular de nómina, trimestralmente, semestralmente, o de alguna otra manera que usted elija, pero tienen que ser tratados como pagados por lo menos anualmente. Free 2012 tax forms No tiene que escoger formalmente las fechas de pago, ni notificarlas al IRS. Free 2012 tax forms No está obligado a hacer uso de la misma base para todos los empleados y puede cambiarla tan a menudo como lo desee, siempre que todos los beneficios marginales proporcionados a los empleados en un año natural sean tratados como pagados a más tardar el 31 de diciembre de dicho año natural. Free 2012 tax forms Sin embargo, vea Regla especial en el caso de beneficios marginales proporcionados en noviembre y diciembre , más adelante. Free 2012 tax forms   Se puede tratar el valor de un solo beneficio marginal tributable que no es en efectivo como pagado en una o más fechas distintas en el mismo año natural, aun en el caso en que el empleado reciba todo el beneficio de una vez. Free 2012 tax forms Sin embargo, una vez seleccionadas las fechas de pago, se tienen que declarar las contribuciones en su planilla de contribución para el mismo período contributivo durante el cual usted los consideró pagados. Free 2012 tax forms Esta elección no se aplica a un beneficio marginal en el que se transfieren bienes muebles o propiedad personal de inversión. Free 2012 tax forms Retención de las contribuciones al Seguro Social y al seguro Medicare sobre los beneficios marginales. Free 2012 tax forms   Deberá añadir el valor de los beneficios marginales a los salarios regulares del período de nómina y después procederá a calcular la contribución al Seguro Social y la contribución al seguro Medicare sobre la cantidad total. Free 2012 tax forms   Si la cantidad de contribución al Seguro Social y de contribución al seguro Medicare que retiene al empleado durante un año natural es menor que la cantidad requerida, pero usted declara la cantidad correcta, puede cobrarle al empleado la cantidad de contribución que no le retuvo. Free 2012 tax forms Depósito de la contribución sobre los beneficios marginales. Free 2012 tax forms   Cuando hayan sido escogidas las fechas de pago de los beneficios marginales que no sean en efectivo y que están sujetos a la contribución, tiene que depositar las contribuciones en el mismo período de depósito en el cual trató a los beneficios marginales como pagados a los empleados. Free 2012 tax forms Puede hacer un estimado razonable del valor de los beneficios marginales. Free 2012 tax forms Por regla general, el valor de los beneficios marginales que no sean en efectivo y que están sujetos a la contribución proporcionados durante un año natural tiene que ser determinado a más tardar el 31 de enero del año siguiente. Free 2012 tax forms   Puede reclamar un reintegro de los pagos de contribución hechos en exceso o puede optar por que el exceso se le acredite a la próxima planilla de contribución sobre la nómina que radique. Free 2012 tax forms Si depositó menos de la cantidad requerida, vea Multas relacionadas con los depósitos , en el apartado 11. Free 2012 tax forms Valorización de vehículos proporcionados a los empleados. Free 2012 tax forms   Si le proporciona a sus empleados un vehículo, puede determinar el valor verdadero de este beneficio marginal para el año natural entero tomando en consideración el uso comercial del vehículo, o puede considerar el uso total durante el año como personal e incluir el 100% del valor del uso del vehículo en los sueldos y salarios pagados al empleado. Free 2012 tax forms Regla especial en el caso de beneficios marginales proporcionados en noviembre y diciembre. Free 2012 tax forms   Puede optar por considerar el valor de los beneficios marginales que no sean en efectivo y que están sujetos a la contribución proporcionados a sus empleados durante noviembre y diciembre como pagados en el año siguiente. Free 2012 tax forms Sin embargo, esto se aplica únicamente a los beneficios que realmente se provean durante noviembre y diciembre, no a los que se consideran pagados durante esos meses. Free 2012 tax forms   Si opta por usar la regla especial, tiene que notificárselo a los empleados afectados por la misma. Free 2012 tax forms Debe entregarle la notificación directamente al empleado entre la última fecha de pago de salarios correspondiente al año natural y (o cerca de) la fecha en que se le entregue al empleado el Formulario 499R-2/W-2PR. Free 2012 tax forms Si hace uso de esta regla especial, el empleado también tiene que hacerlo para todo propósito y para el mismo período de tiempo que usted la usa. Free 2012 tax forms No puede usar esta regla especial cuando el beneficio es una transferencia de bienes inmuebles o propiedad (tanto tangible como intangible) que se tiene principalmente para propósitos de inversión a su empleado. Free 2012 tax forms 6. Free 2012 tax forms Propinas Las propinas que sus empleados reciben de los clientes están, generalmente, sujetas a la retención de la contribución al Seguro Social y de la contribución al seguro Medicare. Free 2012 tax forms Sus empleados tendrán que declararle la cantidad de propinas que recibieron, para el día 10 del mes siguiente al mes en que recibieron las propinas. Free 2012 tax forms El informe deberá incluir también las propinas que usted pagó a los empleados de los cargos a clientes, propinas que los empleados recibieron directamente de los clientes, y propinas recibidas de otros empleados bajo cualquier acuerdo de propinas compartidas. Free 2012 tax forms El informe deberá incluir las propinas que los empleados recibieron directamente de los clientes así como las que recibieron indirectamente. Free 2012 tax forms Dicho informe no deberá contener las propinas que el empleado haya pagado a otros empleados. Free 2012 tax forms No se requiere ningún informe si el total de las propinas recibidas en un mes es menos de $20. Free 2012 tax forms Los empleados pueden usar el Formulario 4070-PR, Informe al Patrono de Propinas Recibidas por el Empleado, u otro documento similar, para declararle las propinas que reciben durante el mes. Free 2012 tax forms Pueden usar también el Formulario 4070A-PR, Registro Diario de Propinas del Empleado, en donde ellos pueden mantener un registro de las propinas recibidas. Free 2012 tax forms Ambos formularios están incluidos en la Publicación 1244-PR, Registro Diario de Propinas Recibidas por el Empleado e Informe al Patrono, la cual puede obtener en el sitio web del IRS, en IRS. Free 2012 tax forms gov. Free 2012 tax forms El informe tiene que ser firmado por el empleado y tiene que incluir: El nombre, dirección y SSN del empleado, El nombre y la dirección del patrono, El mes o período declarado y El total de las propinas recibidas durante el mes o período. Free 2012 tax forms Recaudación de las contribuciones sobre las propinas. Free 2012 tax forms   Usted tiene que retener la parte correspondiente al empleado de la contribución al Seguro Social y la contribución al seguro Medicare correspondientes al total de propinas declaradas por los empleados. Free 2012 tax forms También puede retener de los salarios o de otros fondos que el empleado ponga a su disposición, la cantidad de contribuciones correspondientes a las propinas. Free 2012 tax forms No retenga más contribución al Seguro Social de los salarios y propinas de los empleados cuando el total de los mismos ascienda a $117,000 para 2014. Free 2012 tax forms Reténgale al empleado la contribución Medicare sobre todos los salarios y propinas de éste durante todo el año. Free 2012 tax forms Usted es responsable de la contribución patronal al Seguro Social hasta que el total de salario pagado a cada empleado, incluyendo propinas, llegue al máximo establecido ($117,000) para el año. Free 2012 tax forms Usted mismo es responsable de pagar la contribución al Medicare correspondiente al patrono durante todo el año sobre los salarios y propinas. Free 2012 tax forms Radique el Formulario 941-PR (o el Formulario 944(SP)) para declarar la retención de contribución sobre propinas. Free 2012 tax forms Las reglas que corresponden a la retención de la parte correspondiente al empleado de las contribuciones al Medicare sobre las propinas también corresponden a la retención adicional de la contribución al Medicare una vez que los salarios y las propinas excedan de $200,000 en el año natural. Free 2012 tax forms Regla de disposición. Free 2012 tax forms   Si no tiene suficientes fondos para retener la contribución al Seguro Social y al Medicare sobre las propinas de un empleado para el día 10 del mes siguiente al mes en que recibe el informe de propinas del empleado, usted dejará de ser responsable de la retención de la contribución al Seguro Social y al Medicare del empleado relacionada con las propinas. Free 2012 tax forms Informe de propinas. Free 2012 tax forms   Declare propinas y la cantidad de contribuciones al Seguro Social y al Medicare que retuvo o no pudo retenerle al empleado en las casillas 22 y 23 del Formulario 499R-2/W-2PR, en las líneas 5b, 5c y 5d del Formulario 941-PR y en las líneas 4b, 4c y 4d del Formulario 944(SP). Free 2012 tax forms Informe un ajuste en la línea 9 del Formulario 941-PR o en la línea 6 del Formulario 944(SP) para las contribuciones no retenidas del Seguro Social o Medicare. Free 2012 tax forms No incluya en el formulario 499R2/W-2PR la Contribucion Adicional al Medicare que no pudo retenerle al empleado. Free 2012 tax forms La tabla que aparece en el apartado 15 muestra el trato de las propinas para propósitos de la contribución FUTA. Free 2012 tax forms   El Revenue Ruling 2012-18 (Reglamento de Rentas Internas 2012-18) provee pautas a patronos sobre las contribuciones al Seguro Social y al Medicare que se imponen sobre las propinas, incluyendo información sobre cómo se informa la parte correspondiente al patrono de las contribuciones al Seguro Social y al Medicare conforme la sección 3121(q), la diferencia entre las propinas y los cargos administrativos y el crédito conforme a la sección 45B. Free 2012 tax forms El Reglamento de Rentas Internas 2012-18, que se encuentra en la página 1032 del Boletín de Rentas Internas 2012-26, está disponible en inglés en www. Free 2012 tax forms irs. Free 2012 tax forms gov/irb/2012-26_IRB/ar07. Free 2012 tax forms html. Free 2012 tax forms Se le permite establecer un sistema de declaración electrónica de propinas para sus empleados. Free 2012 tax forms Vea la sección 31. Free 2012 tax forms 6053-1(d) de los Reglamentos, en inglés, para más detalles. Free 2012 tax forms 7. Free 2012 tax forms Contribución al Seguro Social y al seguro Medicare por trabajo agrícola Las condiciones que se describen a continuación se aplican solamente en el caso del trabajo agrícola. Free 2012 tax forms Por lo general, usted es un patrono agrícola si sus empleados: Crían o cosechan productos agrícolas u hortícolas en una finca (incluyendo la cría y alimentación de animales); Realizan labores relacionadas con la operación, administración, preservación, mejora y mantenimiento de su finca y de su equipo y herramientas; Prestación de servicios relativos al salvamento de la madera, la limpieza de la tierra, de maleza y otros residuos dejados luego del paso de un huracán (también conocido como el trabajo de huracanes); Manipulan, procesan o empacan productos agrícolas u hortícolas si usted cultivó más de la mitad de estos productos (para un grupo de hasta 20 operadores no incorporados, tuvo que haber cultivado estos productos en su totalidad); o Hacen trabajo para usted relacionado con el desmote de algodón, la producción o procesamiento de aguarrás, productos resinosos o la operación y mantenimiento de instalaciones para la irrigación. Free 2012 tax forms Con este fin, el término “granja” incluye ganado, productos lácteos, aves, frutas, animales para peletería, y las huertas, así como las plantaciones, los ranchos, viveros, pasturas, invernaderos y otras estructuras similares utilizadas principalmente para la cría de productos agrícolas u hortícolas y los huertos. Free 2012 tax forms Trabajo agrícola no incluye actividades de reventa que no impliquen una actividad cuantiosa de la producción de productos agrícolas u hortícolas, tales como una tienda al detal o un invernadero utilizados principalmente para la exhibición o el almacenaje. Free 2012 tax forms Un copartícipe (aparcero) que trabaja para usted no es su empleado. Free 2012 tax forms Sin embargo, el copartícipe podría estar sujeto a la contribución federal sobre el trabajo por cuenta propia. Free 2012 tax forms Por lo general, la aparcería es un arreglo por el cual ciertos productos o artículos de comercio se comparten entre el copartícipe y el propietario (o el inquilino o arrendatario) del terreno. Free 2012 tax forms Para más detalles, vea la sección 31. Free 2012 tax forms 3121(b)(16)-1 de los Reglamentos. Free 2012 tax forms El requisito de los $150 o $2,500. Free 2012 tax forms   Todas las remuneraciones en efectivo que usted le paga a un empleado por trabajo agrícola durante el año están sujetas a las contribuciones al Seguro Social y al seguro Medicare si uno de los dos requisitos siguientes le corresponde: Pagó salarios en efectivo de $150 o más a un empleado durante el año (incluya todos los salarios en efectivo pagados a base de tiempo, a destajo o cualquier otra base). Free 2012 tax forms El requisito de los $150 o más al año se aplica por separado a cada empleado agrícola que trabaje para usted. Free 2012 tax forms Si contrata a una familia de trabajadores, se considera a cada miembro de la familia por separado. Free 2012 tax forms No cuente los salarios recibidos por el empleado mientras éste prestaba servicios a otros patronos. Free 2012 tax forms Pagó salarios (tanto en efectivo como en especie) de $2,500 o más durante el año a todos sus empleados por concepto de trabajo agrícola. Free 2012 tax forms Excepciones. Free 2012 tax forms   El requisito de los $150 y el de los $2,500 no rigen sobre las remuneraciones que le paga a un trabajador agrícola que recibe menos de $150 en concepto de salarios anuales en efectivo y las remuneraciones no están sujetas a las contribuciones al Seguro Social y al Medicare, aun cuando pague $2,500 o más en ese año a todos sus trabajadores agrícolas si el trabajador agrícola: Trabaja en agricultura en labores manuales relacionadas con la cosecha, Recibe paga basada en una tarifa establecida de acuerdo a tareas realizadas en un trabajo a destajo que suele ser pagado de esa manera en la región donde el trabajador está empleado, Viaja todos los días desde su hogar al sitio de trabajo y Estuvo empleado en agricultura durante un período menor de 13 semanas durante el año natural anterior. Free 2012 tax forms Las cantidades que le paga a sus trabajadores temporeros, sin embargo, se toman en cuenta para los efectos del requisito de los $2,500 para determinar si las remuneraciones que le paga a los demás trabajadores agrícolas están sujetos a las contribuciones al Seguro Social y al seguro Medicare. Free 2012 tax forms 8. Free 2012 tax forms Contribución al Seguro Social y al seguro Medicare por trabajo doméstico Usted tiene un empleado doméstico si contrató a alguien para que lleve a cabo trabajo doméstico y ese trabajador es su empleado. Free 2012 tax forms El trabajador es su empleado si usted puede controlar qué trabajo se hace y cómo se hace dicho trabajo. Free 2012 tax forms Si el trabajor es su empleado, no importa si éste trabaja a tiempo completo o a tiempo parcial o si lo contrató mediante una agencia o una lista provista por la agencia o asociación. Free 2012 tax forms Además, tampoco importa si le paga al trabajador por hora, por día, por semana o a destajo. Free 2012 tax forms Trabajo doméstico. Free 2012 tax forms   El trabajo doméstico es trabajo que se lleva a cabo en su hogar o en los alrededores de éste. Free 2012 tax forms Algunos ejemplos de trabajadores que llevan a cabo trabajo doméstico son: Niñeras, Guardianes (celadores), Personal de limpieza, Choferes, Profesionales de la salud (auxiliares), Amas de llaves, Criadas, Nodrizas (institutrices), Enfermeras privadas y Jardineros. Free 2012 tax forms Contribuciones al Seguro Social y al Medicare para 2014. Free 2012 tax forms   La contribución para el Seguro Social permanece en 6. Free 2012 tax forms 2% tanto para el empleado como para el patrono. Free 2012 tax forms La base límite de salario para el Seguro Social es $117,000. Free 2012 tax forms   Para el año 2014, la tasa de la contribución al Medicare permanece en 1. Free 2012 tax forms 45% tanto para el empleado como para el patrono. Free 2012 tax forms Esta tasa no ha cambiado de la tasa para el año 2013. Free 2012 tax forms No hay límite sobre la cantidad de salarios sujetos a la contribución al Medicare. Free 2012 tax forms Las contribuciones al Seguro Social y al Medicare se aplican a los salarios de empleados domésticos a quienes usted les paga $1,900 o más en efectivo o de una forma equivalente de remuneración. Free 2012 tax forms Retención de la Contribución Adicional al Medicare. Free 2012 tax forms   Además de la retención de la contribución al Medicare de 1. Free 2012 tax forms 45%, usted tiene que retener la Contribución Adicional al Medicare de 0. Free 2012 tax forms 9% de los salarios en exceso de $200,000 que le paga a un empleado en un año natural. Free 2012 tax forms Se le requiere a usted que comience a retener la Contribución Adicional al Medicare en el período de paga en el cual usted le paga salarios en exceso de $200,000 a un empleado. Free 2012 tax forms Continúe reteniendo esta Contribución Adicional al Medicare en todo período de paga hasta que finalice el año natural. Free 2012 tax forms La Contribución Adicional al Medicare sólo se le impone al empleado. Free 2012 tax forms No hay una porción correspondiente al patrono de esta Contribución Adicional al Medicare. Free 2012 tax forms Todos los salarios que están sujetos a la contribución al Medicare, están sujetos a la retención de la Contribución Adicional al Medicare si éstos se pagan en exceso del límite de $200,000. Free 2012 tax forms   Si desea más información sobre cuáles salarios están sujetos a la contribución al Medicare, vea la tabla Reglas especiales para varias clases de servicios y de pagos , en el apartado 15 de esta publicación. Free 2012 tax forms Para más información, sobre la Contribución Adicional al Medicare visite IRS. Free 2012 tax forms gov y escriba “ Additional Medicare Tax ” en inglés, en la casilla Search (Buscar). Free 2012 tax forms La información está disponible en inglés. Free 2012 tax forms Requisito de $1,900. Free 2012 tax forms   Para 2014, se impondrán contribuciones sobre los salarios pagados en efectivo (independientemente de cuándo se hayan devengado los salarios) a un empleado doméstico durante el año natural como remuneración por servicios prestados si, durante ese año, le paga al empleado salarios en efectivo de $1,900 o más. Free 2012 tax forms Este requisito de los $1,900 en el año se aplica a cada empleado doméstico por separado. Free 2012 tax forms Pagos que no se consideran salarios. Free 2012 tax forms   No considere como salarios los pagos que efectúa como salarios sujetos a las contribuciones al Seguro Social o al Medicare a cualquiera de las personas indicadas a continuación, aunque dichos salarios totalicen $1,900 o más durante el año. Free 2012 tax forms Su cónyuge. Free 2012 tax forms Su hijo menor de 21 años de edad. Free 2012 tax forms Su padre o su madre. Free 2012 tax forms Excepción: Considere estos pagos como salarios si ambas condiciones descritas a continuación le corresponden: Su padre o madre cuida a su hijo que: Es menor de 18 años de edad o Tiene una condición física o mental que requiere que lo cuide un adulto durante por lo menos 4 semanas consecutivas en el trimestre natural en el cual los servicios fueron provistos. Free 2012 tax forms Su estado civil es uno de los siguientes: Usted está divorciado y no se ha vuelto a casar, Usted es viudo o Usted está viviendo con un cónyuge cuya condición física o mental le prohíbe a él o a ella de cuidar de su hijo por al menos 4 semanas consecutivas en el trimestre natural en el cual los servicios fueron provistos. Free 2012 tax forms Un empleado que sea menor de 18 años en cualquier momento durante el año. Free 2012 tax forms Excepción: Considere estos pagos como salarios si los servicios domésticos prestados es la ocupación principal del empleado. Free 2012 tax forms Si el empleado es un estudiante, entonces los servicios domésticos prestados no se consideran como una ocupación principal. Free 2012 tax forms El cálculo de la contribución se hace solamente sobre los salarios pagados en efectivo a trabajadores domésticos que satisfacen el requisito de los $1,900 al año. Free 2012 tax forms Si le paga al empleado menos de $1,900 en salarios en efectivo en el año 2014, ninguno de los salarios que paga se consideran como salarios sujetos a las contribuciones al Seguro Social o al Medicare. Free 2012 tax forms Sin embargo, todo pago que no sea en efectivo que usted efectúe no se considera como salarios sujetos a las contribuciones al Seguro Social o al Medicare. Free 2012 tax forms Un pago por medio de cheque, giro, etc. Free 2012 tax forms , está sujeto a la contribución de la misma manera que un pago en efectivo. Free 2012 tax forms El valor de artículos (que no sean en efectivo), tales como comidas, hospedaje, ropas y otros artículos suministrados a un trabajador doméstico no está sujeto a la contribución al Seguro Social ni a la contribución al seguro Medicare. Free 2012 tax forms Sin embargo, el dinero en efectivo que usted le provea a su empleado en lugar de estos artículos que no son en efectivo sí se incluyen en los salarios en efectivo. Free 2012 tax forms Transportación (beneficios de transporte). Free 2012 tax forms   Para 2014, por lo general, usted puede proveerle a su empleado beneficios de transporte, tales como $130 por mes por transporte combinado en vehículos de desplazamiento de ida y vuelta al trabajo y pases o boletos de tránsito; $250 por mes por estacionamiento calificado; y en un año calendario, puede darle a su empleado $20 para el desplazamiento calificado de ida y vuelta al trabajo en bicicleta multiplicado por el número de meses, los cuales reúnen los requisitos, en los que dicho desplazamiento se haya realizado durante dicho año sin tener que incluir estos beneficios en los salarios en efectivo. Free 2012 tax forms Sin embargo, el valor de los beneficios de transporte que sean mayores de las cantidades especificadas al mes se incluye en los salarios. Free 2012 tax forms Vea Transportation (Commuting) Benefits (Beneficios para transportación (desplazamiento de ida y vuelta al trabajo)), en la Publicación 15-B, Employer's Tax Guide to Fringe Benefits, (Guía contributiva sobre beneficios marginales para patronos), en inglés, para más información. Free 2012 tax forms   Puede declarar los salarios que pagó a sus empleados domésticos de cualquiera de las siguientes maneras: En el Anexo H-PR (Formulario 1040-PR), Contribuciones sobre el Empleo de Empleados Domésticos. Free 2012 tax forms Este formulario se radica junto con el Formulario 1040-PR. Free 2012 tax forms Si no tiene que radicar el Formulario 1040-PR, puede entonces radicar el Anexo H-PR por sí solo o Si tiene negocio y radica el Formulario 941-PR o 944(SP) (o el Formulario 943-PR), puede incluir las contribuciones sobre el trabajo de empleados domésticos junto con los salarios de los demás empleados en dichos formularios. Free 2012 tax forms   Si usted es dueño de un negocio como propietario único o si su hogar está en una finca que opera con fines de ganancia, puede escoger una de dos maneras para pagar sus contribuciones sobre empleados domésticos para el año 2014: Puede pagar las contribuciones sobre el empleo doméstico junto con sus contribuciones al Seguro Social y al Medicare al radicar el Anexo H-PR junto con el Formulario 1040-PR. Free 2012 tax forms Si radica el Anexo H-PR, no incluya dichas contribuciones (las del empleo doméstico) al determinar los requisitos de depósito ni al hacer depósitos de contribución, como se explica en el Formulario 1040-ES (PR), Contribuciones Federales Estimadas del Trabajo por Cuenta Propia y sobre el Empleo de Empleados Domésticos — Puerto Rico. Free 2012 tax forms Si paga sus contribuciones sobre el empleo doméstico junto con sus planillas de contribución sobre la nómina, entonces tiene que informar sus contribuciones sobre el empleo doméstico junto con las otras contribuciones sobre la nómina en el Formulario 941-PR o 944(SP) (o el Formulario 943-PR, si es patrono de empleados agrícolas) y el Formulario 940-PR. Free 2012 tax forms Vea el apartado 11 para más información sobre las reglas de depósito. Free 2012 tax forms Ley Federal de Contribución para el Desempleo (FUTA). Free 2012 tax forms   La Ley Federal de Contribución para el Desempleo (FUTA, por sus siglas en inglés) cubre a los empleados domésticos que prestan servicios en una residencia privada, en un club universitario o en una fraternidad o hermandad femenina (sorority). Free 2012 tax forms Están sujetos a la contribución para el desempleo todos los patronos que pagaron $1,000 o más por dichos servicios en algún trimestre del año actual o el año anterior. Free 2012 tax forms Si usted pagó $1,000 o más por servicios domésticos en algún trimestre de 2013 ó 2014, los primeros $7,000 de los salarios en efectivo que le paga a cada empleado doméstico en el 2014 son salarios sujetos a la contribución FUTA. Free 2012 tax forms Una vez pague $7,000 en salarios a un empleado durante el año 2014, no continúe calculando la contribución FUTA sobre cualquier salario que le paga al empleado durante el resto del año. Free 2012 tax forms   Si usa el Anexo H-PR para declarar la contribución FUTA sobre el ingreso de sus empleados domésticos, no tiene que radicar el Formulario 940-PR por separado para declarar la contribución FUTA. Free 2012 tax forms Puede calcular la contribuci
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The Free 2012 Tax Forms

Free 2012 tax forms Publication 583 - Main Content Table of Contents What New Business Owners Need To Know Forms of BusinessMore information. Free 2012 tax forms More information. Free 2012 tax forms Exception—Community Income. Free 2012 tax forms Exception—Qualified joint venture. Free 2012 tax forms More information. Free 2012 tax forms More information. Free 2012 tax forms Identification NumbersEmployer Identification Number (EIN) Payee's Identification Number Tax Year Accounting Method Business TaxesIncome Tax Self-Employment Tax Employment Taxes Excise Taxes Depositing Taxes Information Returns PenaltiesWaiver of penalty. Free 2012 tax forms Business ExpensesBusiness Start-Up Costs Depreciation Business Use of Your Home Car and Truck Expenses RecordkeepingWhy Keep Records? Kinds of Records To Keep How Long To Keep Records Sample Record System How to Get More InformationInternal Revenue Service Small Business Administration Other Federal Agencies What New Business Owners Need To Know As a new business owner, you need to know your federal tax responsibilities. Free 2012 tax forms Table 1 can help you learn what those responsibilities are. Free 2012 tax forms Ask yourself each question listed in the table, then see the related discussion to find the answer. Free 2012 tax forms In addition to knowing about federal taxes, you need to make some basic business decisions. Free 2012 tax forms Ask yourself: What are my financial resources? What products and services will I sell? How will I market my products and services? How will I develop a strategic business plan? How will I manage my business on a day-to-day basis? How will I recruit employees? The Small Business Administration (SBA) is a federal agency that can help you answer these types of questions. Free 2012 tax forms For information on how to contact the SBA, see How to Get More Information, later. Free 2012 tax forms Forms of Business The most common forms of business are the sole proprietorship, partnership, and corporation. Free 2012 tax forms When beginning a business, you must decide which form of business to use. Free 2012 tax forms Legal and tax considerations enter into this decision. Free 2012 tax forms Only tax considerations are discussed in this publication. Free 2012 tax forms Your form of business determines which income tax return form you have to file. Free 2012 tax forms See Table 2 to find out which form you have to file. Free 2012 tax forms Sole proprietorships. Free 2012 tax forms   A sole proprietorship is an unincorporated business that is owned by one individual. Free 2012 tax forms It is the simplest form of business organization to start and maintain. Free 2012 tax forms The business has no existence apart from you, the owner. Free 2012 tax forms Its liabilities are your personal liabilities. Free 2012 tax forms You undertake the risks of the business for all assets owned, whether or not used in the business. Free 2012 tax forms You include the income and expenses of the business on your personal tax return. Free 2012 tax forms More information. Free 2012 tax forms   For more information on sole proprietorships, see Publication 334, Tax Guide for Small Business. Free 2012 tax forms If you are a farmer, see Publication 225, Farmer's Tax Guide. Free 2012 tax forms Partnerships. Free 2012 tax forms   A partnership is the relationship existing between two or more persons who join to carry on a trade or business. Free 2012 tax forms Each person contributes money, property, labor, or skill, and expects to share in the profits and losses of the business. Free 2012 tax forms   A partnership must file an annual information return to report the income, deductions, gains, losses, etc. Free 2012 tax forms , from its operations, but it does not pay income tax. Free 2012 tax forms Instead, it “passes through” any profits or losses to its partners. Free 2012 tax forms Each partner includes his or her share of the partnership's items on his or her tax return. Free 2012 tax forms More information. Free 2012 tax forms   For more information on partnerships, see Publication 541, Partnerships. Free 2012 tax forms Husband and wife business. Free 2012 tax forms   If you and your spouse jointly own and operate an unincorporated business and share in the profits and losses, you are partners in a partnership, whether or not you have a formal partnership agreement. Free 2012 tax forms Do not use Schedule C or C-EZ. Free 2012 tax forms Instead, file Form 1065, U. Free 2012 tax forms S. Free 2012 tax forms Return of Partnership Income. Free 2012 tax forms For more information, see Publication 541, Partnerships. Free 2012 tax forms Exception—Community Income. Free 2012 tax forms   If you and your spouse wholly own an unincorporated business as community property under the community property laws of a state, foreign country, or U. Free 2012 tax forms S. Free 2012 tax forms possession, you can treat the business either as a sole proprietorship or a partnership. Free 2012 tax forms The only states with community property laws are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. Free 2012 tax forms A change in your reporting position will be treated as a conversion of the entity. Free 2012 tax forms Exception—Qualified joint venture. Free 2012 tax forms   If you and your spouse each materially participate as the only members of a jointly owned and operated business, and you file a joint return for the tax year, you can make a joint election to be treated as a qualified joint venture instead of a partnership for the tax year. Free 2012 tax forms Making this election will allow you to avoid the complexity of Form 1065 but still give each spouse credit for social security earnings on which retirement benefits are based. Free 2012 tax forms For an explanation of "material participation," see the Instructions for Schedule C, line G. Free 2012 tax forms   To make this election, you must divide all items of income, gain, loss, deduction, and credit attributable to the business between you and your spouse in accordance with your respective interests in the venture. Free 2012 tax forms Each of you must file a separate Schedule C or C-EZ and a separate Schedule SE. Free 2012 tax forms For more information, see Qualified Joint Venture in the Instructions for Schedule SE. Free 2012 tax forms Corporations. Free 2012 tax forms   In forming a corporation, prospective shareholders exchange money, property, or both, for the corporation's capital stock. Free 2012 tax forms A corporation generally takes the same deductions as a sole proprietorship to figure its taxable income. Free 2012 tax forms A corporation can also take special deductions. Free 2012 tax forms   The profit of a corporation is taxed to the corporation when earned, and then is taxed to the shareholders when distributed as dividends. Free 2012 tax forms However, shareholders cannot deduct any loss of the corporation. Free 2012 tax forms More information. Free 2012 tax forms   For more information on corporations, see Publication 542, Corporations. Free 2012 tax forms S corporations. Free 2012 tax forms   An eligible domestic corporation can avoid double taxation (once to the corporation and again to the shareholders) by electing to be treated as an S corporation. Free 2012 tax forms Generally, an S corporation is exempt from federal income tax other than tax on certain capital gains and passive income. Free 2012 tax forms On their tax returns, the S corporation's shareholders include their share of the corporation's separately stated items of income, deduction, loss, and credit, and their share of nonseparately stated income or loss. Free 2012 tax forms More information. Free 2012 tax forms   For more information on S corporations, see the instructions for Form 2553, Election by a Small Business Corporation, and Form 1120S, U. Free 2012 tax forms S. Free 2012 tax forms Income Tax Return for an S Corporation. Free 2012 tax forms Limited liability company. Free 2012 tax forms   A limited liability company (LLC) is an entity formed under state law by filing articles of organization as an LLC. Free 2012 tax forms The members of an LLC are not personally liable for its debts. Free 2012 tax forms An LLC may be classified for federal income tax purposes as either a partnership, a corporation, or an entity disregarded as an entity separate from its owner by applying the rules in regulations section 301. Free 2012 tax forms 7701-3. Free 2012 tax forms For more information, see the instructions for Form 8832, Entity Classification Election. Free 2012 tax forms Identification Numbers You must have a taxpayer identification number so the IRS can process your returns. Free 2012 tax forms The two most common kinds of taxpayer identification numbers are the social security number (SSN) and the employer identification number (EIN). Free 2012 tax forms An SSN is issued to individuals by the Social Security Administration (SSA) and is in the following format: 000–00–0000. Free 2012 tax forms An EIN is issued to individuals (sole proprietors), partnerships, corporations, and other entities by the IRS and is in the following format: 00–0000000. Free 2012 tax forms You must include your taxpayer identification number (SSN or EIN) on all returns and other documents you send to the IRS. Free 2012 tax forms You must also furnish your number to other persons who use your identification number on any returns or documents they send to the IRS. Free 2012 tax forms This includes returns or documents filed to report the following information. Free 2012 tax forms Interest, dividends, royalties, etc. Free 2012 tax forms , paid to you. Free 2012 tax forms Any amount paid to you as a dependent care provider. Free 2012 tax forms Certain other amounts paid to you that total $600 or more for the year. Free 2012 tax forms If you do not furnish your identification number as required, you may be subject to penalties. Free 2012 tax forms See Penalties, later. Free 2012 tax forms Employer Identification Number (EIN) EINs are used to identify the tax accounts of employers, certain sole proprietors, corporations, partnerships, estates, trusts, and other entities. Free 2012 tax forms If you don't already have an EIN, you need to get one if you: Have employees, Have a qualified retirement plan, Operate your business as a corporation or partnership, or File returns for: Employment taxes, or Excise taxes. Free 2012 tax forms Applying for an EIN. Free 2012 tax forms   You may apply for an EIN: Online—Click on the EIN link at www. Free 2012 tax forms irs. Free 2012 tax forms gov/businesses/small. Free 2012 tax forms The EIN is issued immediately once the application information is validated. Free 2012 tax forms By telephone at 1-800-829-4933. Free 2012 tax forms By mailing or faxing Form SS-4, Application for Employer Identification Number. Free 2012 tax forms When to apply. Free 2012 tax forms   You should apply for an EIN early enough to receive the number by the time you must file a return or statement or make a tax deposit. Free 2012 tax forms If you apply by mail, file Form SS-4 at least 4 weeks before you need an EIN. Free 2012 tax forms If you apply by telephone or through the IRS website, you can get an EIN immediately. Free 2012 tax forms If you apply by fax, you can get an EIN within 4 business days. Free 2012 tax forms   If you do not receive your EIN by the time a return is due, file your return anyway. Free 2012 tax forms Write “Applied for” and the date you applied for the number in the space for the EIN. Free 2012 tax forms Do not use your social security number as a substitute for an EIN on your tax returns. Free 2012 tax forms More than one EIN. Free 2012 tax forms   You should have only one EIN. Free 2012 tax forms If you have more than one EIN and are not sure which to use, contact the Internal Revenue Service Center where you file your return. Free 2012 tax forms Give the numbers you have, the name and address to which each was assigned, and the address of your main place of business. Free 2012 tax forms The IRS will tell you which number to use. Free 2012 tax forms More information. Free 2012 tax forms   For more information about EINs, see Publication 1635, Understanding Your EIN. Free 2012 tax forms Payee's Identification Number In the operation of a business, you will probably make certain payments you must report on information returns (discussed later under Information Returns). Free 2012 tax forms The forms used to report these payments must include the payee's identification number. Free 2012 tax forms Employee. Free 2012 tax forms   If you have employees, you must get an SSN from each of them. Free 2012 tax forms Record the name and SSN of each employee exactly as they are shown on the employee's social security card. Free 2012 tax forms If the employee's name is not correct as shown on the card, the employee should request a new card from the SSA. Free 2012 tax forms This may occur, for example, if the employee's name has changed due to marriage or divorce. Free 2012 tax forms   If your employee does not have an SSN, he or she should file Form SS-5, Application for a Social Security Card, with the SSA. Free 2012 tax forms This form is available at SSA offices or by calling 1-800-772-1213. Free 2012 tax forms It is also available from the SSA website at www. Free 2012 tax forms ssa. Free 2012 tax forms gov. Free 2012 tax forms Other payee. Free 2012 tax forms   If you make payments to someone who is not your employee and you must report the payments on an information return, get that person's SSN. Free 2012 tax forms If you make reportable payments to an organization, such as a corporation or partnership, you must get its EIN. Free 2012 tax forms   To get the payee's SSN or EIN, use Form W-9, Request for Taxpayer Identification Number and Certification. Free 2012 tax forms This form is available from IRS offices or by calling 1-800-829-3676. Free 2012 tax forms It is also available from the IRS website at IRS. Free 2012 tax forms gov. Free 2012 tax forms    If the payee does not provide you with an identification number, you may have to withhold part of the payments as backup withholding. Free 2012 tax forms For information on backup withholding, see the Form W-9 instructions and the General Instructions for Certain Information Returns. Free 2012 tax forms Tax Year You must figure your taxable income and file an income tax return based on an annual accounting period called a tax year. Free 2012 tax forms A tax year is usually 12 consecutive months. Free 2012 tax forms There are two kinds of tax years. Free 2012 tax forms Calendar tax year. Free 2012 tax forms A calendar tax year is 12 consecutive months beginning January 1 and ending December 31. Free 2012 tax forms Fiscal tax year. Free 2012 tax forms A fiscal tax year is 12 consecutive months ending on the last day of any month except December. Free 2012 tax forms A 52-53-week tax year is a fiscal tax year that varies from 52 to 53 weeks but does not have to end on the last day of a month. Free 2012 tax forms If you file your first tax return using the calendar tax year and you later begin business as a sole proprietor, become a partner in a partnership, or become a shareholder in an S corporation, you must continue to use the calendar year unless you get IRS approval to change it or are otherwise allowed to change it without IRS approval. Free 2012 tax forms You must use a calendar tax year if: You keep no books. Free 2012 tax forms You have no annual accounting period. Free 2012 tax forms Your present tax year does not qualify as a fiscal year. Free 2012 tax forms You are required to use a calendar year by a provision of the Internal Revenue Code or the Income Tax Regulations. Free 2012 tax forms For more information, see Publication 538, Accounting Periods and Methods. Free 2012 tax forms First-time filer. Free 2012 tax forms   If you have never filed an income tax return, you can adopt either a calendar tax year or a fiscal tax year. Free 2012 tax forms You adopt a tax year by filing your first income tax return using that tax year. Free 2012 tax forms You have not adopted a tax year if you merely did any of the following. Free 2012 tax forms Filed an application for an extension of time to file an income tax return. Free 2012 tax forms Filed an application for an employer identification number. Free 2012 tax forms Paid estimated taxes for that tax year. Free 2012 tax forms Changing your tax year. Free 2012 tax forms   Once you have adopted your tax year, you may have to get IRS approval to change it. Free 2012 tax forms To get approval, you must file Form 1128, Application To Adopt, Change, or Retain a Tax Year. Free 2012 tax forms You may have to pay a fee. Free 2012 tax forms For more information, see Publication 538. Free 2012 tax forms Accounting Method An accounting method is a set of rules used to determine when and how income and expenses are reported. Free 2012 tax forms You choose an accounting method for your business when you file your first income tax return. Free 2012 tax forms There are two basic accounting methods. Free 2012 tax forms Cash method. Free 2012 tax forms Under the cash method, you report income in the tax year you receive it. Free 2012 tax forms You usually deduct or capitalize expenses in the tax year you pay them. Free 2012 tax forms Accrual method. Free 2012 tax forms Under an accrual method, you generally report income in the tax year you earn it, even though you may receive payment in a later year. Free 2012 tax forms You deduct or capitalize expenses in the tax year you incur them, whether or not you pay them that year. Free 2012 tax forms For other methods, see Publication 538. Free 2012 tax forms If you need inventories to show income correctly, you must generally use an accrual method of accounting for purchases and sales. Free 2012 tax forms Inventories include goods held for sale in the normal course of business. Free 2012 tax forms They also include raw materials and supplies that will physically become a part of merchandise intended for sale. Free 2012 tax forms Inventories are explained in Publication 538. Free 2012 tax forms Certain small business taxpayers can use the cash method of accounting and can also account for inventoriable items as materials and supplies that are not incidental. Free 2012 tax forms For more information, see Publication 538. Free 2012 tax forms You must use the same accounting method to figure your taxable income and to keep your books. Free 2012 tax forms Also, you must use an accounting method that clearly shows your income. Free 2012 tax forms In general, any accounting method that consistently uses accounting principles suitable for your trade or business clearly shows income. Free 2012 tax forms An accounting method clearly shows income only if it treats all items of gross income and expense the same from year to year. Free 2012 tax forms More than one business. Free 2012 tax forms   When you own more than one business, you can use a different accounting method for each business if the method you use for each clearly shows your income. Free 2012 tax forms You must keep a complete and separate set of books and records for each business. Free 2012 tax forms Changing your method of accounting. Free 2012 tax forms   Once you have set up your accounting method, you must generally get IRS approval before you can change to another method. Free 2012 tax forms A change in accounting method not only includes a change in your overall system of accounting, but also a change in the treatment of any material item. Free 2012 tax forms For examples of changes that require approval and information on how to get approval for the change, see Publication 538. Free 2012 tax forms Business Taxes The form of business you operate determines what taxes you must pay and how you pay them. Free 2012 tax forms The following are the four general kinds of business taxes. Free 2012 tax forms Income tax. Free 2012 tax forms Self-employment tax. Free 2012 tax forms Employment taxes. Free 2012 tax forms Excise taxes. Free 2012 tax forms See Table 2 for the forms you file to report these taxes. Free 2012 tax forms You may want to get Publication 509. Free 2012 tax forms It has tax calendars that tell you when to file returns and make tax payments. Free 2012 tax forms Income Tax All businesses except partnerships must file an annual income tax return. Free 2012 tax forms Partnerships file an information return. Free 2012 tax forms Which form you use depends on how your business is organized. Free 2012 tax forms See Table 2 to find out which return you have to file. Free 2012 tax forms The federal income tax is a pay-as-you-go tax. Free 2012 tax forms You must pay the tax as you earn or receive income during the year. Free 2012 tax forms An employee usually has income tax withheld from his or her pay. Free 2012 tax forms If you do not pay your tax through withholding, or do not pay enough tax that way, you might have to pay estimated tax. Free 2012 tax forms If you are not required to make estimated tax payments, you may pay any tax due when you file your return. Free 2012 tax forms Table 2. Free 2012 tax forms Which Forms Must I File? IF you are a. Free 2012 tax forms . Free 2012 tax forms . Free 2012 tax forms   THEN you may be liable for. Free 2012 tax forms . Free 2012 tax forms . Free 2012 tax forms   Use Form. Free 2012 tax forms . Free 2012 tax forms . Free 2012 tax forms Sole proprietor   Income tax   1040 and Schedule C 1 or C-EZ (Schedule F 1 for farm business)     Self-employment tax   1040 and Schedule SE     Estimated tax   1040-ES     Employment taxes:         • Social security and Medicare   taxes and income tax   withholding   941 or 944 (943 for farm employees)     • Federal unemployment (FUTA)   tax   940     Excise taxes   See Excise Taxes Partnership   Annual return of income   1065     Employment taxes   Same as sole proprietor     Excise taxes   See Excise Taxes Partner in a partnership (individual)   Income tax   1040 and Schedule E 2     Self-employment tax   1040 and Schedule SE     Estimated tax   1040-ES Corporation or S corporation   Income tax   1120 (corporation) 2  1120S (S corporation) 2     Estimated tax   1120-W (corporation only)     Employment taxes   Same as sole proprietor     Excise taxes   See Excise Taxes S corporation shareholder   Income tax   1040 and Schedule E 2     Estimated tax   1040-ES 1 File a separate schedule for each business. Free 2012 tax forms 2 Various other schedules may be needed. Free 2012 tax forms Estimated tax. Free 2012 tax forms   Generally, you must pay taxes on income, including self-employment tax (discussed next), by making regular payments of estimated tax during the year. Free 2012 tax forms Sole proprietors, partners, and S corporation shareholders. Free 2012 tax forms   You generally have to make estimated tax payments if you expect to owe tax of $1,000 or more when you file your return. Free 2012 tax forms Use Form 1040-ES, Estimated Tax for Individuals, to figure and pay your estimated tax. Free 2012 tax forms For more information, see Publication 505, Tax Withholding and Estimated Tax. Free 2012 tax forms Corporations. Free 2012 tax forms   You generally have to make estimated tax payments for your corporation if you expect it to owe tax of $500 or more when you file its return. Free 2012 tax forms Use Form 1120-W, Estimated Tax for Corporations, to figure the estimated tax. Free 2012 tax forms You must deposit the payments as explained later under Depositing Taxes. Free 2012 tax forms For more information, see Publication 542. Free 2012 tax forms Self-Employment Tax Self-employment tax (SE tax) is a social security and Medicare tax primarily for individuals who work for themselves. Free 2012 tax forms Your payments of SE tax contribute to your coverage under the social security system. Free 2012 tax forms Social security coverage provides you with retirement benefits, disability benefits, survivor benefits, and hospital insurance (Medicare) benefits. Free 2012 tax forms You must pay SE tax and file Schedule SE (Form 1040) if either of the following applies. Free 2012 tax forms Your net earnings from self-employment were $400 or more. Free 2012 tax forms You had church employee income of $108. Free 2012 tax forms 28 or more. Free 2012 tax forms Use Schedule SE (Form 1040) to figure your SE tax. Free 2012 tax forms For more information, see Publication 334, Tax Guide for Small Business. Free 2012 tax forms You can deduct a portion of your SE tax as an adjustment to income on your Form 1040. Free 2012 tax forms The Social Security Administration (SSA) time limit for posting self-employment income. Free 2012 tax forms   Generally, the SSA will give you credit only for self-employment income reported on a tax return filed within 3 years, 3 months, and 15 days after the tax year you earned the income. Free 2012 tax forms If you file your tax return or report a change in your self-employment income after this time limit, the SSA may change its records, but only to remove or reduce the amount. Free 2012 tax forms The SSA will not change its records to increase your self-employment income. Free 2012 tax forms Employment Taxes This section briefly discusses the employment taxes you must pay, the forms you must file to report them, and other forms that must be filed when you have employees. Free 2012 tax forms Employment taxes include the following. Free 2012 tax forms Social security and Medicare taxes. Free 2012 tax forms Federal income tax withholding. Free 2012 tax forms Federal unemployment (FUTA) tax. Free 2012 tax forms If you have employees, you will need to get Publication 15, Circular E, Employer's Tax Guide. Free 2012 tax forms If you have agricultural employees, get Publication 51, Circular A, Agricultural Employer's Tax Guide. Free 2012 tax forms These publications explain your tax responsibilities as an employer. Free 2012 tax forms If you are not sure whether the people working for you are your employees, see Publication 15-A, Employer's Supplemental Tax Guide. Free 2012 tax forms That publication has information to help you determine whether an individual is an employee or an independent contractor. Free 2012 tax forms If you classify an employee as an independent contractor, you can be held liable for employment taxes for that worker plus a penalty. Free 2012 tax forms An independent contractor is someone who is self-employed. Free 2012 tax forms Generally, you do not have to withhold or pay any taxes on payments to an independent contractor. Free 2012 tax forms Federal Income, Social Security, and Medicare Taxes You generally must withhold federal income tax from your employee's wages. Free 2012 tax forms To figure how much federal income tax to withhold from each wage payment, use the employee's Form W-4 (discussed later under Hiring Employees) and the methods described in Publication 15. Free 2012 tax forms Social security and Medicare taxes pay for benefits that workers and their families receive under the Federal Insurance Contributions Act (FICA). Free 2012 tax forms Social security tax pays for benefits under the old-age, survivors, and disability insurance part of FICA. Free 2012 tax forms Medicare tax pays for benefits under the hospital insurance part of FICA. Free 2012 tax forms You withhold part of these taxes from your employee's wages and you pay a part yourself. Free 2012 tax forms To find out how much social security and Medicare tax to withhold and to pay, see Publication 15. Free 2012 tax forms Which form do I file?   Report these taxes on Form 941, Employer's QUARTERLY Federal Tax Return, or Form 944, Employer's ANNUAL Federal Tax Return. Free 2012 tax forms (Farm employers use Form 943, Employer's Annual Federal Tax Return for Agricultural Employees. Free 2012 tax forms ) Federal Unemployment (FUTA) Tax The federal unemployment tax is part of the federal and state program under the Federal Unemployment Tax Act (FUTA) that pays unemployment compensation to workers who lose their jobs. Free 2012 tax forms You report and pay FUTA tax separately from social security and Medicare taxes and withheld income tax. Free 2012 tax forms You pay FUTA tax only from your own funds. Free 2012 tax forms Employees do not pay this tax or have it withheld from their pay. Free 2012 tax forms Which form do I file?   Report federal unemployment tax on Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return. Free 2012 tax forms See Publication 15 to find out if you can use this form. Free 2012 tax forms Hiring Employees Have the employees you hire fill out Form I-9 and Form W-4. Free 2012 tax forms Form I-9. Free 2012 tax forms   You must verify that each new employee is legally eligible to work in the United States. Free 2012 tax forms Both you and the employee must complete the U. Free 2012 tax forms S. Free 2012 tax forms Citizenship and Immigration Services (USCIS) Form I-9, Employment Eligibility Verification. Free 2012 tax forms You can get the form from USCIS offices or from the USCIS website at www. Free 2012 tax forms uscis. Free 2012 tax forms gov. Free 2012 tax forms Call the USCIS at 1-800-375-5283 for more information about your responsibilities. Free 2012 tax forms Form W-4. Free 2012 tax forms   Each employee must fill out Form W-4, Employee's Withholding Allowance Certificate. Free 2012 tax forms You will use the filing status and withholding allowances shown on this form to figure the amount of income tax to withhold from your employee's wages. Free 2012 tax forms For more information, see Publication 15. Free 2012 tax forms Employees claiming more than 10 withholding allowances. Free 2012 tax forms   An employer of an employee who claims more than 10 withholding allowances for wages paid can use several methods of withholding. Free 2012 tax forms See section 16 of Publication 15. Free 2012 tax forms Form W-2 Wage Reporting After the calendar year is over, you must furnish copies of Form W-2, Wage and Tax Statement, to each employee to whom you paid wages during the year. Free 2012 tax forms You must also send copies to the Social Security Administration. Free 2012 tax forms See Information Returns, later, for more information on Form W-2. Free 2012 tax forms Excise Taxes This section describes the excise taxes you may have to pay and the forms you have to file if you do any of the following. Free 2012 tax forms Manufacture or sell certain products. Free 2012 tax forms Operate certain kinds of businesses. Free 2012 tax forms Use various kinds of equipment, facilities, or products. Free 2012 tax forms Receive payment for certain services. Free 2012 tax forms For more information on excise taxes, see Publication 510, Excise Taxes. Free 2012 tax forms Form 720. Free 2012 tax forms   The federal excise taxes reported on Form 720, Quarterly Federal Excise Tax Return, consist of several broad categories of taxes, including the following. Free 2012 tax forms Environmental taxes. Free 2012 tax forms Communications and air transportation taxes. Free 2012 tax forms Fuel taxes. Free 2012 tax forms Tax on the first retail sale of heavy trucks, trailers, and tractors. Free 2012 tax forms Manufacturers taxes on the sale or use of a variety of different articles. Free 2012 tax forms Form 2290. Free 2012 tax forms   There is a federal excise tax on certain trucks, truck tractors, and buses used on public highways. Free 2012 tax forms The tax applies to vehicles having a taxable gross weight of 55,000 pounds or more. Free 2012 tax forms Report the tax on Form 2290, Heavy Highway Vehicle Use Tax Return. Free 2012 tax forms For more information, see the instructions for Form 2290. Free 2012 tax forms Form 730. Free 2012 tax forms   If you are in the business of accepting wagers or conducting a wagering pool or lottery, you may be liable for the federal excise tax on wagering. Free 2012 tax forms Use Form 730, Monthly Tax Return for Wagers, to figure the tax on the wagers you receive. Free 2012 tax forms Form 11-C. Free 2012 tax forms   Use Form 11-C, Occupational Tax and Registration Return for Wagering, to register for any wagering activity and to pay the federal occupational tax on wagering. Free 2012 tax forms Depositing Taxes You generally have to deposit employment taxes, certain excise taxes, corporate income tax, and S corporation taxes before you file your return. Free 2012 tax forms Generally, taxpayers are required to deposit taxes through the Electronic Federal Tax Payment System (EFTPS). Free 2012 tax forms Any business that has a federal tax obligation and requests a new EIN will automatically be enrolled in EFTPS. Free 2012 tax forms Through the mail, the business will receive an EFTPS PIN package that contains instructions for activating its EFTPS enrollment. Free 2012 tax forms Information Returns If you make or receive payments in your business, you may have to report them to the IRS on information returns. Free 2012 tax forms The IRS compares the payments shown on the information returns with each person's income tax return to see if the payments were included in income. Free 2012 tax forms You must give a copy of each information return you are required to file to the recipient or payer. Free 2012 tax forms In addition to the forms described below, you may have to use other returns to report certain kinds of payments or transactions. Free 2012 tax forms For more details on information returns and when you have to file them, see the General Instructions for Certain Information Returns. Free 2012 tax forms Form 1099-MISC. Free 2012 tax forms   Use Form 1099-MISC, Miscellaneous Income, to report certain payments you make in your trade or business. Free 2012 tax forms These payments include the following items. Free 2012 tax forms Payments of $600 or more for services performed for your business by people not treated as your employees, such as subcontractors, attorneys, accountants, or directors. Free 2012 tax forms Rent payments of $600 or more, other than rents paid to real estate agents. Free 2012 tax forms Prizes and awards of $600 or more that are not for services, such as winnings on TV or radio shows. Free 2012 tax forms Royalty payments of $10 or more. Free 2012 tax forms Payments to certain crew members by operators of fishing boats. Free 2012 tax forms You also use Form 1099-MISC to report your sales of $5,000 or more of consumer goods to a person for resale anywhere other than in a permanent retail establishment. Free 2012 tax forms Form W-2. Free 2012 tax forms   You must file Form W-2, Wage and Tax Statement, to report payments to your employees, such as wages, tips, and other compensation, withheld income, social security, and Medicare taxes. Free 2012 tax forms For more information on what to report on Form W-2, see the Instructions for Forms W-2 and W-3. Free 2012 tax forms Form 8300. Free 2012 tax forms   You must file Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business, if you receive more than $10,000 in cash in one transaction or two or more related business transactions. Free 2012 tax forms Cash includes U. Free 2012 tax forms S. Free 2012 tax forms and foreign coin and currency. Free 2012 tax forms It also includes certain monetary instruments such as cashier's and traveler's checks and money orders. Free 2012 tax forms For more information, see Publication 1544, Reporting Cash Payments of Over $10,000 (Received in a Trade or Business). Free 2012 tax forms Penalties The law provides penalties for not filing returns or paying taxes as required. Free 2012 tax forms Criminal penalties may be imposed for willful failure to file, tax evasion, or making a false statement. Free 2012 tax forms Failure to file tax returns. Free 2012 tax forms   If you do not file your tax return by the due date, you may have to pay a penalty. Free 2012 tax forms The penalty is based on the tax not paid by the due date. Free 2012 tax forms See your tax return instructions for more information about this penalty. Free 2012 tax forms Failure to pay tax. Free 2012 tax forms   If you do not pay your taxes by the due date, you will have to pay a penalty for each month, or part of a month, that your taxes are not paid. Free 2012 tax forms For more information, see your tax return instructions. Free 2012 tax forms Failure to withhold, deposit, or pay taxes. Free 2012 tax forms   If you do not withhold income, social security, or Medicare taxes from employees, or if you withhold taxes but do not deposit them or pay them to the IRS, you may be subject to a penalty of the unpaid tax, plus interest. Free 2012 tax forms You may also be subject to penalties if you deposit the taxes late. Free 2012 tax forms For more information, see Publication 15. Free 2012 tax forms Failure to follow information reporting requirements. Free 2012 tax forms   The following penalties apply if you are required to file information returns. Free 2012 tax forms For more information, see the General Instructions for Certain Information Returns. Free 2012 tax forms Failure to file information returns. Free 2012 tax forms A penalty applies if you do not file information returns by the due date, if you do not include all required information, or if you report incorrect information. Free 2012 tax forms Failure to furnish correct payee statements. Free 2012 tax forms A penalty applies if you do not furnish a required statement to a payee by the due date, if you do not include all required information, or if you report incorrect information. Free 2012 tax forms Waiver of penalty. Free 2012 tax forms   These penalties will not apply if you can show that the failures were due to reasonable cause and not willful neglect. Free 2012 tax forms   In addition, there is no penalty for failure to include all the required information, or for including incorrect information, on a de minimis number of information returns if you correct the errors by August 1 of the year the returns are due. Free 2012 tax forms (To be considered de minimis, the number of returns cannot exceed the greater of 10 or ½ of 1% of the total number of returns you are required to file for the year. Free 2012 tax forms ) Failure to supply taxpayer identification number. Free 2012 tax forms   If you do not include your taxpayer identification number (SSN or EIN) or the taxpayer identification number of another person where required on a return, statement, or other document, you may be subject to a penalty of $50 for each failure. Free 2012 tax forms You may also be subject to the $50 penalty if you do not give your taxpayer identification number to another person when it is required on a return, statement, or other document. Free 2012 tax forms Business Expenses You can deduct business expenses on your income tax return. Free 2012 tax forms These are the current operating costs of running your business. Free 2012 tax forms To be deductible, a business expense must be both ordinary and necessary. Free 2012 tax forms An ordinary expense is one that is common and accepted in your field of business, trade, or profession. Free 2012 tax forms A necessary expense is one that is helpful and appropriate for your business, trade, or profession. Free 2012 tax forms An expense does not have to be indispensable to be considered necessary. Free 2012 tax forms The following are brief explanations of some expenses that are of interest to people starting a business. Free 2012 tax forms There are many other expenses that you may be able to deduct. Free 2012 tax forms See your form instructions and Publication 535, Business Expenses. Free 2012 tax forms Business Start-Up Costs Business start-up costs are the expenses you incur before you actually begin business operations. Free 2012 tax forms Your business start-up costs will depend on the type of business you are starting. Free 2012 tax forms They may include costs for advertising, travel, surveys, and training. Free 2012 tax forms These costs are generally capital expenses. Free 2012 tax forms You usually recover costs for a particular asset (such as machinery or office equipment) through depreciation (discussed next). Free 2012 tax forms You can elect to deduct up to $5,000 of business start-up costs and $5,000 of organizational costs paid or incurred after October 22, 2004. Free 2012 tax forms The $5,000 deduction is reduced by the amount your total start-up or organizational costs exceed $50,000. Free 2012 tax forms Any remaining cost must be amortized. Free 2012 tax forms For more information about amortizing start-up and organizational costs, see chapter 7 in Publication 535. Free 2012 tax forms Depreciation If property you acquire to use in your business has a useful life that extends substantially beyond the year it is placed in service, you generally cannot deduct the entire cost as a business expense in the year you acquire it. Free 2012 tax forms You must spread the cost over more than one tax year and deduct part of it each year. Free 2012 tax forms This method of deducting the cost of business property is called depreciation. Free 2012 tax forms Business property you must depreciate includes the following items. Free 2012 tax forms Office furniture. Free 2012 tax forms Buildings. Free 2012 tax forms Machinery and equipment. Free 2012 tax forms You can choose to deduct a limited amount of the cost of certain depreciable property in the year you place the property in service. Free 2012 tax forms This deduction is known as the “section 179 deduction. Free 2012 tax forms ” For more information about depreciation and the section 179 deduction, see Publication 946, How To Depreciate Property. Free 2012 tax forms Depreciation must be taken in the year it is allowable. Free 2012 tax forms Allowable depreciation not taken in a prior year cannot be taken in the current year. Free 2012 tax forms If you do not deduct the correct depreciation, you may be able to make a correction by filing Form 1040X, Amended U. Free 2012 tax forms S. Free 2012 tax forms Individual Income Tax Return, or by changing your accounting method. Free 2012 tax forms For more information on how to correct depreciation deductions, see chapter 1 in Publication 946. Free 2012 tax forms Business Use of Your Home To deduct expenses related to the business use of part of your home, you must meet specific requirements. Free 2012 tax forms Even then, your deduction may be limited. Free 2012 tax forms To qualify to claim expenses for business use of your home, you must meet both the following tests. Free 2012 tax forms Your use of the business part of your home must be: Exclusive (however, see Exceptions to exclusive use, later), Regular, For your trade or business, AND The business part of your home must be one of the following: Your principal place of business (defined later), A place where you meet or deal with patients, clients, or customers in the normal course of your trade or business, or A separate structure (not attached to your home) you use in connection with your trade or business. Free 2012 tax forms Exclusive use. Free 2012 tax forms   To qualify under the exclusive use test, you must use a specific area of your home only for your trade or business. Free 2012 tax forms The area used for business can be a room or other separately identifiable space. Free 2012 tax forms The space does not need to be marked off by a permanent partition. Free 2012 tax forms   You do not meet the requirements of the exclusive use test if you use the area in question both for business and for personal purposes. Free 2012 tax forms Exceptions to exclusive use. Free 2012 tax forms   You do not have to meet the exclusive use test if either of the following applies. Free 2012 tax forms You use part of your home for the storage of inventory or product samples. Free 2012 tax forms You use part of your home as a daycare facility. Free 2012 tax forms For an explanation of these exceptions, see Publication 587, Business Use of Your Home (Including Use by Daycare Providers). Free 2012 tax forms Principal place of business. Free 2012 tax forms   Your home office will qualify as your principal place of business for deducting expenses for its use if you meet the following requirements. Free 2012 tax forms You use it exclusively and regularly for administrative or management activities of your trade or business. Free 2012 tax forms You have no other fixed location where you conduct substantial administrative or management activities of your trade or business. Free 2012 tax forms   Alternatively, if you use your home exclusively and regularly for your business, but your home office does not qualify as your principal place of business based on the previous rules, you determine your principal place of business based on the following factors. Free 2012 tax forms The relative importance of the activities performed at each location. Free 2012 tax forms If the relative importance factor does not determine your principal place of business, the time spent at each location. Free 2012 tax forms    If, after considering your business locations, your home cannot be identified as your principal place of business, you cannot deduct home office expenses. Free 2012 tax forms However, for other ways to qualify to deduct home office expenses, see Publication 587. Free 2012 tax forms Which form do I file?   If you file Schedule C (Form 1040), use Form 8829, Expenses for Business Use of Your Home, to figure your deduction. Free 2012 tax forms If you file Schedule F (Form 1040) or you are a partner, you can use the worksheet in Publication 587. Free 2012 tax forms More information. Free 2012 tax forms   For more information about business use of your home, see Publication 587. Free 2012 tax forms Car and Truck Expenses If you use your car or truck in your business, you can deduct the costs of operating and maintaining it. Free 2012 tax forms You generally can deduct either your actual expenses or the standard mileage rate. Free 2012 tax forms Actual expenses. Free 2012 tax forms   If you deduct actual expenses, you can deduct the cost of the following items: Depreciation Lease payments Registration Garage rent Licenses Repairs Gas Oil Tires Insurance Parking fees Tolls   If you use your vehicle for both business and personal purposes, you must divide your expenses between business and personal use. Free 2012 tax forms You can divide your expenses based on the miles driven for each purpose. Free 2012 tax forms Example. Free 2012 tax forms You are the sole proprietor of a flower shop. Free 2012 tax forms You drove your van 20,000 miles during the year. Free 2012 tax forms 16,000 miles were for delivering flowers to customers and 4,000 miles were for personal use. Free 2012 tax forms You can claim only 80% (16,000 ÷ 20,000) of the cost of operating your van as a business expense. Free 2012 tax forms Standard mileage rate. Free 2012 tax forms   Instead of figuring actual expenses, you may be able to use the standard mileage rate to figure the deductible costs of operating your car, van, pickup, or panel truck for business purposes. Free 2012 tax forms You can use the standard mileage rate for a vehicle you own or lease. Free 2012 tax forms The standard mileage rate is a specified amount of money you can deduct for each business mile you drive. Free 2012 tax forms It is announced annually by the IRS. Free 2012 tax forms To figure your deduction, multiply your business miles by the standard mileage rate for the year. Free 2012 tax forms    Generally, if you use the standard mileage rate, you cannot deduct your actual expenses. Free 2012 tax forms However, you may be able to deduct business-related parking fees, tolls, interest on your car loan, and certain state and local taxes. Free 2012 tax forms Choosing the standard mileage rate. Free 2012 tax forms   If you want to use the standard mileage rate for a car you own, you must choose to use it in the first year the car is available for use in your business. Free 2012 tax forms In later years, you can choose to use either the standard mileage rate or actual expenses. Free 2012 tax forms   If you use the standard mileage rate for a car you lease, you must choose to use it for the entire lease period (including renewals). Free 2012 tax forms Additional information. Free 2012 tax forms   For more information about the rules for claiming car and truck expenses, see Publication 463, Travel, Entertainment, Gift, and Car Expenses. Free 2012 tax forms Recordkeeping This part explains why you must keep records, what kinds of records you must keep, and how to keep them. Free 2012 tax forms It also explains how long you must keep your records for federal tax purposes. Free 2012 tax forms A sample recordkeeping system is illustrated at the end of this part. Free 2012 tax forms Why Keep Records? Everyone in business must keep records. Free 2012 tax forms Good records will help you do the following. Free 2012 tax forms Monitor the progress of your business. Free 2012 tax forms   You need good records to monitor the progress of your business. Free 2012 tax forms Records can show whether your business is improving, which items are selling, or what changes you need to make. Free 2012 tax forms Good records can increase the likelihood of business success. Free 2012 tax forms Prepare your financial statements. Free 2012 tax forms   You need good records to prepare accurate financial statements. Free 2012 tax forms These include income (profit and loss) statements and balance sheets. Free 2012 tax forms These statements can help you in dealing with your bank or creditors and help you manage your business. Free 2012 tax forms An income statement shows the income and expenses of the business for a given period of time. Free 2012 tax forms A balance sheet shows the assets, liabilities, and your equity in the business on a given date. Free 2012 tax forms Identify source of receipts. Free 2012 tax forms   You will receive money or property from many sources. Free 2012 tax forms Your records can identify the source of your receipts. Free 2012 tax forms You need this information to separate business from nonbusiness receipts and taxable from nontaxable income. Free 2012 tax forms Keep track of deductible expenses. Free 2012 tax forms   You may forget expenses when you prepare your tax return unless you record them when they occur. Free 2012 tax forms Prepare your tax returns. Free 2012 tax forms   You need good records to prepare your tax returns. Free 2012 tax forms These records must support the income, expenses, and credits you report. Free 2012 tax forms Generally, these are the same records you use to monitor your business and prepare your financial statements. Free 2012 tax forms Support items reported on tax returns. Free 2012 tax forms   You must keep your business records available at all times for inspection by the IRS. Free 2012 tax forms If the IRS examines any of your tax returns, you may be asked to explain the items reported. Free 2012 tax forms A complete set of records will speed up the examination. Free 2012 tax forms Kinds of Records To Keep Except in a few cases, the law does not require any specific kind of records. Free 2012 tax forms You can choose any recordkeeping system suited to your business that clearly shows your income and expenses. Free 2012 tax forms The business you are in affects the type of records you need to keep for federal tax purposes. Free 2012 tax forms You should set up your recordkeeping system using an accounting method that clearly shows your income for your tax year. Free 2012 tax forms See Accounting Method, earlier. Free 2012 tax forms If you are in more than one business, you should keep a complete and separate set of records for each business. Free 2012 tax forms A corporation should keep minutes of board of directors' meetings. Free 2012 tax forms Your recordkeeping system should include a summary of your business transactions. Free 2012 tax forms This summary is ordinarily made in your books (for example, accounting journals and ledgers). Free 2012 tax forms Your books must show your gross income, as well as your deductions and credits. Free 2012 tax forms For most small businesses, the business checkbook (discussed later) is the main source for entries in the business books. Free 2012 tax forms In addition, you must keep supporting documents, explained later. Free 2012 tax forms Electronic records. Free 2012 tax forms   All requirements that apply to hard copy books and records also apply to electronic storage systems that maintain tax books and records. Free 2012 tax forms When you replace hard copy books and records, you must maintain the electronic storage systems for as long as they are material to the administration of tax law. Free 2012 tax forms An electronic storage system is any system for preparing or keeping your records either by electronic imaging or by transfer to an electronic storage media. Free 2012 tax forms The electronic storage system must index, store, preserve, retrieve and reproduce the electronically stored books and records in legible format. Free 2012 tax forms All electronic storage systems must provide a complete and accurate record of your data that is accessible to the IRS. Free 2012 tax forms Electronic storage systems are also subject to the same controls and retention guidelines as those imposed on your original hard copy books and records. Free 2012 tax forms   The original hard copy books and records may be destroyed provided that the electronic storage system has been tested to establish that the hard copy books and records are being reproduced in compliance with IRS requirements for an electronic storage system and procedures are established to ensure continued compliance with all applicable rules and regulations. Free 2012 tax forms You still have the responsibility of retaining any other books and records that are required to be retained. Free 2012 tax forms   The IRS may test your electronic storage system, including the equipment used, indexing methodology, software and retrieval capabilities. Free 2012 tax forms This test is not considered an examination and the results must be shared with you. Free 2012 tax forms If your electronic storage system meets the requirements mentioned earlier, you will be in compliance. Free 2012 tax forms If not, you may be subject to penalties for non-compliance, unless you continue to maintain your original hard copy books and records in a manner that allows you and the IRS to determine your correct tax. Free 2012 tax forms For details on electronic storage system requirements, see Revenue Procedure 97-22, available in Internal Revenue Bulletin 1997-13. Free 2012 tax forms Supporting Documents Purchases, sales, payroll, and other transactions you have in your business generate supporting documents. Free 2012 tax forms Supporting documents include sales slips, paid bills, invoices, receipts, deposit slips, and canceled checks. Free 2012 tax forms These documents contain information you need to record in your books. Free 2012 tax forms It is important to keep these documents because they support the entries in your books and on your tax return. Free 2012 tax forms Keep them in an orderly fashion and in a safe place. Free 2012 tax forms For instance, organize them by year and type of income or expense. Free 2012 tax forms Gross receipts. Free 2012 tax forms   Gross receipts are the income you receive from your business. Free 2012 tax forms You should keep supporting documents that show the amounts and sources of your gross receipts. Free 2012 tax forms Documents that show gross receipts include the following. Free 2012 tax forms Cash register tapes. Free 2012 tax forms Bank deposit slips. Free 2012 tax forms Receipt books. Free 2012 tax forms Invoices. Free 2012 tax forms Credit card charge slips. Free 2012 tax forms Forms 1099-MISC. Free 2012 tax forms Purchases. Free 2012 tax forms   Purchases are the items you buy and resell to customers. Free 2012 tax forms If you are a manufacturer or producer, this includes the cost of all raw materials or parts purchased for manufacture into finished products. Free 2012 tax forms Your supporting documents should show the amount paid and that the amount was for purchases. Free 2012 tax forms Documents for purchases include the following. Free 2012 tax forms Canceled checks. Free 2012 tax forms Cash register tape receipts. Free 2012 tax forms Credit card sales slips. Free 2012 tax forms Invoices. Free 2012 tax forms These records will help you determine the value of your inventory at the end of the year. Free 2012 tax forms See Publication 538 for information on methods for valuing inventory. Free 2012 tax forms Expenses. Free 2012 tax forms   Expenses are the costs you incur (other than purchases) to carry on your business. Free 2012 tax forms Your supporting documents should show the amount paid and that the amount was for a business expense. Free 2012 tax forms Documents for expenses include the following. Free 2012 tax forms Canceled checks. Free 2012 tax forms Cash register tapes. Free 2012 tax forms Account statements. Free 2012 tax forms Credit card sales slips. Free 2012 tax forms Invoices. Free 2012 tax forms Petty cash slips for small cash payments. Free 2012 tax forms    A petty cash fund allows you to make small payments without having to write checks for small amounts. Free 2012 tax forms Each time you make a payment from this fund, you should make out a petty cash slip and attach it to your receipt as proof of payment. Free 2012 tax forms Travel, transportation, entertainment, and gift expenses. Free 2012 tax forms   Specific recordkeeping rules apply to these expenses. Free 2012 tax forms For more information, see Publication 463. Free 2012 tax forms Employment taxes. Free 2012 tax forms   There are specific employment tax records you must keep. Free 2012 tax forms For a list, see Publication 15. Free 2012 tax forms Assets. Free 2012 tax forms   Assets are the property, such as machinery and furniture you own and use in your business. Free 2012 tax forms You must keep records to verify certain information about your business assets. Free 2012 tax forms You need records to figure the annual depreciation and the gain or loss when you sell the assets. Free 2012 tax forms Your records should show the following information. Free 2012 tax forms When and how you acquired the asset. Free 2012 tax forms Purchase price. Free 2012 tax forms Cost of any improvements. Free 2012 tax forms Section 179 deduction taken. Free 2012 tax forms Deductions taken for depreciation. Free 2012 tax forms Deductions taken for casualty losses, such as losses resulting from fires or storms. Free 2012 tax forms How you used the asset. Free 2012 tax forms When and how you disposed of the asset. Free 2012 tax forms Selling price. Free 2012 tax forms Expenses of sale. Free 2012 tax forms   The following documents may show this information. Free 2012 tax forms Purchase and sales invoices. Free 2012 tax forms Real estate closing statements. Free 2012 tax forms Canceled checks. Free 2012 tax forms What if I don't have a canceled check?   If you do not have a canceled check, you may be able to prove payment with certain financial account statements prepared by financial institutions. Free 2012 tax forms These include account statements prepared for the financial institution by a third party. Free 2012 tax forms These account statements must be highly legible. Free 2012 tax forms The following table lists acceptable account statements. Free 2012 tax forms  IF payment is by. Free 2012 tax forms . Free 2012 tax forms . Free 2012 tax forms THEN the statement must show the. Free 2012 tax forms . Free 2012 tax forms . Free 2012 tax forms Check Check number. Free 2012 tax forms Amount. Free 2012 tax forms Payee's name. Free 2012 tax forms Date the check amount was posted to the account by the financial institution. Free 2012 tax forms Electronic funds transfer Amount transferred. Free 2012 tax forms Payee's name. Free 2012 tax forms Date the transfer was posted to the account by the financial institution. Free 2012 tax forms Credit card Amount charged. Free 2012 tax forms Payee's name. Free 2012 tax forms Transaction date. Free 2012 tax forms    Proof of payment of an amount, by itself, does not establish you are entitled to a tax deduction. Free 2012 tax forms You should also keep other documents, such as credit card sales slips and invoices, to show that you also incurred the cost. Free 2012 tax forms Recording Business Transactions A good recordkeeping system includes a summary of your business transactions. Free 2012 tax forms (Your business transactions are shown on the supporting documents just discussed. Free 2012 tax forms ) Business transactions are ordinarily summarized in books called journals and ledgers. Free 2012 tax forms You can buy them at your local stationery or office supply store. Free 2012 tax forms A journal is a book where you record each business transaction shown on your supporting documents. Free 2012 tax forms You may have to keep separate journals for transactions that occur frequently. Free 2012 tax forms A ledger is a book that contains the totals from all of your journals. Free 2012 tax forms It is organized into different accounts. Free 2012 tax forms Whether you keep journals and ledgers and how you keep them depends on the type of business you are in. Free 2012 tax forms For example, a recordkeeping system for a small business might include the following items. Free 2012 tax forms Business checkbook. Free 2012 tax forms Daily summary of cash receipts. Free 2012 tax forms Monthly summary of cash receipts. Free 2012 tax forms Check disbursements journal. Free 2012 tax forms Depreciation worksheet. Free 2012 tax forms Employee compensation record. Free 2012 tax forms The business checkbook is explained next. Free 2012 tax forms The other items are illustrated later under Sample Record System. Free 2012 tax forms The system you use to record business transactions will be more effective if you follow good recordkeeping practices. Free 2012 tax forms For example, record expenses when they occur, and identify the source of recorded receipts. Free 2012 tax forms Generally, it is best to record transactions on a daily basis. Free 2012 tax forms Business checkbook. Free 2012 tax forms   One of the first things you should do when you start a business is open a business checking account. Free 2012 tax forms You should keep your business account separate from your personal checking account. Free 2012 tax forms   The business checkbook is your basic source of information for recording your business expenses. Free 2012 tax forms You should deposit all daily receipts in your business checking account. Free 2012 tax forms You should check your account for errors by reconciling it. Free 2012 tax forms See Reconciling the checking account, later. Free 2012 tax forms   Consider using a checkbook that allows enough space to identify the source of deposits as business income, personal funds, or loans. Free 2012 tax forms You should also note on the deposit slip the source of the deposit and keep copies of all slips. Free 2012 tax forms   You should make all payments by check to document business expenses. Free 2012 tax forms Write checks payable to yourself only when making withdrawals from your business for personal use. Free 2012 tax forms Avoid writing checks payable to cash. Free 2012 tax forms If you must write a check for cash to pay a business expense, include the receipt for the cash payment in your records. Free 2012 tax forms If you cannot get a receipt for a cash payment, you should make an adequate explanation in your records at the time of payment. Free 2012 tax forms    Use the business account for business purposes only. Free 2012 tax forms Indicate the source of deposits and the type of expense in the checkbook. Free 2012 tax forms Reconciling the checking account. Free 2012 tax forms   When you receive your bank statement, make sure the statement, your checkbook, and your books agree. Free 2012 tax forms The statement balance may not agree with the balance in your checkbook and books if the statement: Includes bank charges you did not enter in your books and subtract from your checkbook balance, or Does not include deposits made after the statement date or checks that did not clear your account before the statement date. Free 2012 tax forms   By reconciling your checking account, you will: Verify how much money you have in the account, Make sure that your checkbook and books reflect all bank charges and the correct balance in the checking account, and Correct any errors in your bank statement, checkbook, and books. Free 2012 tax forms    You should reconcile your checking account each month. Free 2012 tax forms     Before you reconcile your monthly bank statement, check your own figures. Free 2012 tax forms Begin with the balance shown in your checkbook at the end of the previous month. Free 2012 tax forms To this balance, add the total cash deposited during the month and subtract the total cash disbursements. Free 2012 tax forms   After checking your figures, the result should agree with your checkbook balance at the end of the month. Free 2012 tax forms If the result does not agree, you may have made an error in recording a check or deposit. Free 2012 tax forms You can find the error by doing the following. Free 2012 tax forms Adding the amounts on your check stubs and comparing that total with the total in the “amount of check” column in your check disbursements journal. Free 2012 tax forms If the totals do not agree, check the individual amounts to see if an error was made in your check stub record or in the related entry in your check disbursements journal. Free 2012 tax forms Adding the deposit amounts in your checkbook. Free 2012 tax forms Compare that total with the monthly total in your cash receipt book, if you have one. Free 2012 tax forms If the totals do not agree, check the individual amounts to find any errors. Free 2012 tax forms   If your checkbook and journal entries still disagree, then refigure the running balance in your checkbook to make sure additions and subtractions are correct. Free 2012 tax forms   When your checkbook balance agrees with the balance figured from the journal entries, you may begin reconciling your checkbook with the bank statement. Free 2012 tax forms Many banks print a reconciliation worksheet on the back of the statement. Free 2012 tax forms   To reconcile your account, follow these steps. Free 2012 tax forms Compare the deposits listed on the bank statement with the deposits shown in your checkbook. Free 2012 tax forms Note all differences in the dollar amounts. Free 2012 tax forms Compare each canceled check, including both check number and dollar amount, with the entry in your checkbook. Free 2012 tax forms Note all differences in the dollar amounts. Free 2012 tax forms Mark the check number in the checkbook as having cleared the bank. Free 2012 tax forms After accounting for all checks returned by the bank, those not marked in your checkbook are your outstanding checks. Free 2012 tax forms Prepare a bank reconciliation. Free 2012 tax forms One is illustrated later under Sample Record System. Free 2012 tax forms Update your checkbook and journals for items shown on the reconciliation as not recorded (such as service charges) or recorded incorrectly. Free 2012 tax forms At this point, the adjusted bank statement balance should equal your adjusted checkbook balance. Free 2012 tax forms If you still have differences, check the previous steps to find the errors. Free 2012 tax forms   Table 3. Free 2012 tax forms Period of Limitations IF you. Free 2012 tax forms . Free 2012 tax forms . Free 2012 tax forms   THEN the period is. Free 2012 tax forms . Free 2012 tax forms . Free 2012 tax forms 1. Free 2012 tax forms Owe additional tax and situations (2), (3), and (4), below, do not apply to you   3 years 2. Free 2012 tax forms Do not report income that you should report and it is more than 25% of the gross income shown on the return   6 years 3. Free 2012 tax forms File a fraudulent return   Not limited 4. Free 2012 tax forms Do not file a return   Not limited 5. Free 2012 tax forms File a claim for credit or refund after you filed your return   Later of: 3 years or  2 years after tax   was paid 6. Free 2012 tax forms File a claim for a loss from worthless securities or a bad debt deduction   7 years Bookkeeping System You must decide whether to use a single-entry or a double-entry bookkeeping system. Free 2012 tax forms The single-entry system of bookkeeping is the simplest to maintain, but it may not be suitable for everyone. Free 2012 tax forms You may find the double-entry system better because it has built-in checks and balances to assure accuracy and control. Free 2012 tax forms Single-entry. Free 2012 tax forms   A single-entry system is based on the income statement (profit or loss statement). Free 2012 tax forms It can be a simple and practical system if you are starting a small business. Free 2012 tax forms The system records the flow of income and expenses through the use of: A daily summary of cash receipts, and Monthly summaries of cash receipts and disbursements. Free 2012 tax forms Double-entry. Free 2012 tax forms   A double-entry bookkeeping system uses journals and ledgers. Free 2012 tax forms Transactions are first entered in a journal and then posted to ledger accounts. Free 2012 tax forms These accounts show income, expenses, assets (property a business owns), liabilities (debts of a business), and net worth (excess of assets over liabilities). Free 2012 tax forms You close income and expense accounts at the end of each tax year. Free 2012 tax forms You keep asset, liability, and net worth accounts open on a permanent basis. Free 2012 tax forms   In the double-entry system, each account has a left side for debits and a right side for credits. Free 2012 tax forms It is self-balancing because you record every transaction as a debit entry in one account and as a credit entry in another. Free 2012 tax forms   Under this system, the total debits must equal the total credits after you post the journal entries to the ledger accounts. Free 2012 tax forms If the amounts do not balance, you have made an error and you must find and correct it. Free 2012 tax forms   An example of a journal entry exhibiting a payment of rent in October is shown next. Free 2012 tax forms General Journal Date Description of Entry Debit  Credit Oct. Free 2012 tax forms 5 Rent expense 780. Free 2012 tax forms 00     Cash   780. Free 2012 tax forms 00                 Computerized System There are computer software packages you can use for recordkeeping. Free 2012 tax forms They can be purchased in many retail stores. Free 2012 tax forms These packages are very helpful and relatively easy to use; they require very little knowledge of bookkeeping and accounting. Free 2012 tax forms If you use a computerized system, you must be able to produce sufficient legible records to support and verify entries made on your return and determine your correct tax liability. Free 2012 tax forms To meet this qualification, the machine-sensible records must reconcile with your books and return. Free 2012 tax forms These records must provide enough detail to identify the underlying source documents. Free 2012 tax forms You must also keep all machine-sensible records and a complete description of the computerized portion of your recordkeeping system. Free 2012 tax forms This documentation must be sufficiently detailed to show all of the following items. Free 2012 tax forms Functions being performed as the data flows through the system. Free 2012 tax forms Controls used to ensure accurate and reliable processing. Free 2012 tax forms Controls used to prevent the unauthorized addition, alteration, or deletion of retained records. Free 2012 tax forms Charts of accounts and detailed account descriptions. Free 2012 tax forms See Revenue Procedure 98-25 in Cumulative Bulletin 1998-1 for more information. Free 2012 tax forms How Long To Keep Records You must keep your records as long as they may be needed for the administration of any provision of the Internal Revenue Code. Free 2012 tax forms Generally, this means you must keep records that support an item of income or deduction on a return until the period of limitations for that return runs out. Free 2012 tax forms The period of limitations is the period of time in which you can amend your return to claim a credit or refund, or the IRS can assess additional tax. Free 2012 tax forms Table 3 contains the periods of limitations that apply to income tax returns. Free 2012 tax forms Unless otherwise stated, the years refer to the period after the return was filed. Free 2012 tax forms Returns filed before the due date are treated as filed on the due date. Free 2012 tax forms Keep copies of your filed tax returns. Free 2012 tax forms They help in preparing future tax returns and making computations if you file an amended return. Free 2012 tax forms Employment taxes. Free 2012 tax forms   If you have employees, you must keep all employment tax records for at least 4 years after the date the tax becomes due or is paid, whichever is later. Free 2012 tax forms For more information about recordkeeping for employment taxes, see Publication 15. Free 2012 tax forms Assets. Free 2012 tax forms   Keep records relating to property until the period of limitations expires for the year in which you dispose of the property in a taxable disposition. Free 2012 tax forms You must keep these records to figure any depreciation, amortization, or depletion deduction, and to figure your basis for computing gain or loss when you sell or otherwise dispose of the property. Free 2012 tax forms   Generally, if you received property in a nontaxable exchange, your basis in that property is the same as the basis of the property you gave up, increased by any money you paid. Free 2012 tax forms You must keep the records on the old property, as well as on the new property, until the period of limitations expires for the year in which you dispose of the new property in a taxable disposition. Free 2012 tax forms Records for nontax purposes. Free 2012 tax forms   When your records are no longer needed for tax purposes, do not discard them until you check to see if you have to keep them longer for other purposes. Free 2012 tax forms For example, your insurance company or creditors may require you to keep them longer than the IRS does. Free 2012 tax forms Sample Record System This example illustrates a single-entry system used by Henry Brown, who is the sole proprietor of a small automobile body shop. Free 2012 tax forms Henry uses part-time help, has no inventory of items held for sale, and uses the cash method of accounting. Free 2012 tax forms These sample records should not be viewed as a recommendation of how to keep your records. Free 2012 tax forms They are intended only to show how one business keeps its records. Free 2012 tax forms 1. Free 2012 tax forms Daily Summary of Cash Receipts This summary is a record of cash sales for the day. Free 2012 tax forms It accounts for cash at the end of the day over the amount in the Change and Petty Cash Fund at the beginning of the day. Free 2012 tax forms Henry takes the cash sales entry from his cash register tape. Free 2012 tax forms If he had no cash register, he would simply total his cash sale slips and any other cash received that day. Free 2012 tax forms He carries the total receipts shown in this summary for January 3 ($267. Free 2012 tax forms 80), including cash sales ($263. Free 2012 tax forms 60) and sales tax ($4. Free 2012 tax forms 20), to the Monthly Summary of Cash Receipts. Free 2012 tax forms Petty cash fund. Free 2012 tax forms   Henry uses a petty cash fund to make small payments without having to write checks for small amounts. Free 2012 tax forms Each time he makes a payment from this fund, he makes out a petty cash slip and attaches it to his receipt as proof of payment. Free 2012 tax forms He sets up a fixed amount ($50) in his petty cash fund. Free 2012 tax forms The total of the unspent petty cash and the amounts on the petty cash slips should equal the fixed amount of the fund. Free 2012 tax forms When the totals on the petty cash slips approach the fixed amount, he brings the cash in the fund back to the fixed amount by writing a check to “Petty Cash” for the total of the outstanding slips. Free 2012 tax forms (See the Check Disbursements Journal entry for check number 92. Free 2012 tax forms ) This restores the fund to its fixed amount of $50. Free 2012 tax forms He then summarizes the slips and enters them in the proper columns in the monthly check disbursements journal. Free 2012 tax forms 2. Free 2012 tax forms Monthly Summary of Cash Receipts This shows the income activity for the month. Free 2012 tax forms Henry carries the total monthly net sales shown in this summary for January ($4,865. Free 2012 tax forms 05) to his Annual Summary. Free 2012 tax forms To figure total monthly net sales, Henry reduces the total monthly receipts by the sales tax imposed on his customers and turned over to the state. Free 2012 tax forms He cannot take a deduction for sales tax turned over to the state because he only collected the tax. Free 2012 tax forms He does not include the tax in his income. Free 2012 tax forms 3. Free 2012 tax forms Check Disbursements Journal Henry enters checks drawn on the business checking account in the Check Disbursements Journal each day. Free 2012 tax forms All checks are prenumbered and each check number is listed and accounted for in the column provided in the journal. Free 2012 tax forms Frequent expenses have their own headings across the sheet. Free 2012 tax forms He enters in a separate column expenses that require comparatively numerous or large payments each month, such as materials, gross payroll, and rent. Free 2012 tax forms Under the General Accounts column, he enters small expenses that normally have only one or two monthly payments, such as licenses and postage. Free 2012 tax forms Henry does not pay personal or nonbusiness expenses by checks drawn on the business account. Free 2012 tax forms If he did, he would record them in the journal, even though he could not deduct them as business expenses. Free 2012 tax forms Henry carries the January total of expenses for materials ($1,083. Free 2012 tax forms 50) to the Annual Summary. Free 2012 tax forms Similarly, he enters the monthly total of expenses for telephone, truck/auto, etc. Free 2012 tax forms , in the appropriate columns of that summary. Free 2012 tax forms 4. Free 2012 tax forms Employee Compensation Record This record shows the following information. Free 2012 tax forms The number of hours Henry's employee worked in a pay period. Free 2012 tax forms The employee's total pay for the period. Free 2012 tax forms The deductions Henry withheld in figuring the employee's net pay. Free 2012 tax forms The monthly gross payroll. Free 2012 tax forms Henry carries the January gross payroll ($520) to the Annual Summary. Free 2012 tax forms 5. Free 2012 tax forms Annual Summary This annual summary of monthly cash receipts and expense totals provides the final amounts to enter on Henry's tax return. Free 2012 tax forms He figures the cash receipts total from the total of monthly cash receipts shown in the Monthly Summary of Cash Receipts. Free 2012 tax forms He figures the expense totals from the totals of monthly expense items shown in the Check Disbursements Journal. Free 2012 tax forms As in the journal, he keeps each major expense in a separate column. Free 2012 tax forms Henry carries the cash receipts total shown in the annual summary ($47,440. Free 2012 tax forms 9