Simple Retirement Solutions for Small Business Owners
Offering employees retirement options can be an effective way for small business owners to attract and retain talent. If you’re concerned about cost and administrative complexity, you’re not alone. Fortunately, several options are available, including a Simplified Employee Pension (SEP) plan.
How Renting Out Your Vacation Home Affects Your Taxes
When you’re not using your vacation home, renting it out can generate extra income. But it can also affect your taxes, depending on how often you rent and use the property personally.
Tax Due Dates July 15 Employers: Deposit Social Security, Medicare and withheld income taxes for June if the monthly deposit rule applies. Employers: Deposit nonpayroll withheld income tax for June if the monthly deposit rule applies. July 31 Employers: File a 2025 calendar-year retirement plan report (Form 5500 or Form 5500-EZ) or request an extension. Employers: Report Social Security and Medicare taxes and income tax withholding for the second quarter of 2026 (Form 941) and pay any tax due if all of the associated taxes due weren’t deposited on time and in full. August 10 Individuals: Report July tip income of $20 or more to employers (Form 4070). Employers: Report Social Security and Medicare taxes and income tax withholding for the second quarter 2026 (Form 941), if all associated taxes due were deposited on time and in full.
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Please call us at 978-537-0715 if you have any questions.
Dube & Associates, P.C.
80 Erdman Way, Suite 316
Leominster, MA 01453 dubeandassociatespc.com
978-537-0715
Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.
