Remote Business Services News & Information

 Here are the key quarterly IRS deadlines most U.S. businesses need to know. If any deadline falls on a weekend or federal holiday, it moves to the next business day. Quarterly payroll tax returns (Form 941) • Q1 (Jan 1–Mar 31) – file by April 30 • Q2 (Apr 1–Jun 30) – file by July 31 • Q3 (Jul 1–Sep 30) – file by October 31 • Q4 (Oct 1–Dec 31) – file by January 31 (of the following year) Quarterly estimated income tax payments A. Individuals, sole proprietors, partners, S-corp shareholders (Form 1040-ES) and estates/trusts (Form 1041-ES) • Q1 payment – April 15 • Q2 payment – June 15 (or next business day) • Q3 payment – September 15 • Q4 payment – January 15 (of the following year) B. C corporations (Form 1120-W) • Q1 payment – April 15 • Q2 payment – June 15 • Q3 payment – September 15 • Q4 payment – December 15 Make sure you also deposit withheld payroll taxes according to your deposit schedule (semi-weekly or monthly) and file any state/local returns as required. If you’re ever...

  ✅ Yes, you  can  potentially claim the  Child and Dependent Care Tax Credit (CDCTC)  while living abroad — but only if certain requirements are met. 🔑 Key Rules for the CDCTC Abroad Qualifying Person A child under  13 years old  whom you claim as a dependent,  or A spouse or dependent of any age who is physically or mentally unable to care for themselves. Work-Related Expense Requirement Care expenses must enable you (and your spouse if filing jointly) to  work or look for work . “Work” also includes  being a full-time student  or  incapable of self-care . If you’re working for a foreign employer,  your foreign earned income counts  as long as it’s reported on your U.S. return. Type of Expenses That Qualify Daycare, babysitters, after-school programs, or similar. Can be paid to individuals or care centers,  even abroad . Not allowed:  Payments to your spouse, another parent, or a child under 19. Provider ...

Americans living and working abroad can take advantage of several  tax credits  to reduce their U.S. tax liability. Here are the key ones: 1. Foreign Tax Credit (FTC) – Most Important What it does:  Offsets U.S. taxes dollar-for-dollar for taxes paid to a foreign country. Who qualifies:  Anyone who pays income taxes to a foreign government (e.g., via payroll, capital gains, dividends). How to claim:   Form 1116  (or  Form 1118  for corporations). Key rules: Must be an  income tax  (not VAT, property tax, etc.). Can carry unused credits  back 1 year  and  forward 10 years . Can choose between  FTC  and  Foreign Earned Income Exclusion (FEIE) —whichever saves more. 2. Foreign Earned Income Exclusion (FEIE) – Not a Credit, but Helps What it does:  Excludes up to ~ $120,000 (2025 est.)  of foreign-earned income from U.S. taxes. Who qualifies:  Must pass either the  Bona Fide Residence Test ...