Tax Planning in Q3 for Stock Options, LLC, and S-Corporations

Quarterly payments and extended return deadlines around the corner!

Take this as tax perspective and educational content only so please do get in contact as needed. That is what we are here for.

Q3 – 9/15 deadline (technically 9/16 this year) is generally less important compared to Q4, but here are some key points:

• 2018 LLC and S-Corp Extended returns are DUE 9/15. We plan to be 100% filed well before the deadline.
• 2018 Individual Extended return deadline is just around the corner as well, DUE 10/15 and we plan to have those out the door before those final days. Please check your emails for any follow ups we may have if your return has not yet been filed.
• Big 2019 Stock option transactions?
• If needing a Q3 check-in or projections, do let us know ASAP
• (Sales, exercises, 409A Valuations?)
• Make those estimated payments if you have them
• Enough fed tax being withheld on that RSU comp?
• Accounting all in order? Please let us know how we can help. Having this in order close to year-end will make the tax return process much smoother.
• Tired of bars and restaurants? Checkout our client feature below.
• Surf report at bottom, from another continent.

Big plans for the rest of the year? Let’s hear about them and work together to optimize your tax, strategy, and accounting around it all.

All The Very Best,

John and Gillingham CPA

General individual tax planning points Q3

Q3 – involves setting up for Q4 and the new year:

• Incremental things such as tax withholding adjustments and 401K contributions should be looked at now
• Any big income events should be analyzed for cash for purposes, decision making, and tax payment requirements (when and how much)
• IRA planning for deductions, back-door Roth IRA, accelerating income in low tax years, or reducing income are things to be thinking about
• Stock options should be well documented and planned for
• Thinking of a side-hustle? Don’t just run out to your favorite online robo-attorney, please consider the tax planning

General business tax planning points Q3

Q3 – involves understanding where you are at and what we can do

• Get that accounting in shape with our assistance so we can plan and more importantly give your numbers some meaning!
• Incorporate your real accounting into real business decisions and tie into your KPIs (Key Performance Indicators)
• Thinking entity changes? S-corp or LLC?
• Closing or starting a new business can be planned for
• Payroll needs can be addressed
• Timing can be key around the year end so that your business decisions are made in context with very real tax deadlines
• San Francisco, local, and state tax compliance needs a look? Let’s talk.

Our client feature for Q3 is The JellyBus!

• The JellyBus is a mobile event venue that runs on bio-diesel and love.
• It has a solar-powered sound system, and room for up to 40 people to mingle.
• The lovingly restored vintage bus can be rented for your next event, whether it’s a company outing, wedding, birthday party, wine tasting…(basically anything that calls for a huge pink bus).

Accounting Play, our sister company, recently released Know Your Numbers, a comprehensive small business course for bootstrapped early stage entrepreneurs.

-It features dozens of multimedia lessons, templates, downloads, and education tools from Accounting Play that are designed around you. Best of all, it’s free for any Gillingham CPA clients. Let me know if you’re interested and we’ll get you all set up.

Finally, the surf report!

Jeffrey’s Bay (far away). The very hollow and surprise – shallow! spot has just a view more waves left as winter turns to summer. Highly recommend visiting this vibrant, exciting, and somewhat connectivity limited area!