SHARE:  
f0224170-e585-493b-8138-43dd07956e85 image

January 2025

During this challenging time in our beautiful state of California, we at Hamilton Tharp want to express our heartfelt sympathy to those impacted by the fires, as well as our deep gratitude to the courageous first responders in Los Angeles County.

Important Reminders and Dates


All Tax Organizers will be sent out by January 31, 2025

The admin team at HT2 is working hard to get the tax organizers up to date with all of the new tax laws. All organizers should be sent to our clients by the end of the month.


All 1099s and W2s are Due January 31, 2025

Employers are required to file their copies of Form W-2, submitted to the Social Security Administration, by January 31, 2025. The January 31st deadline also applies to certain Forms 1099-MISC and 1099-NEC reporting non-employee compensation such as payments to independent contractors. 


IRS GRANTS DISASTER FILING AND PAYMENT POSTPONEMENTS TO LOS ANGELES COUNTY WILDFIRE VICTIMS

IRS: California Taxpayers located in Los Angeles County have until October 15, 2025, to meet filing and payment deadlines that normally fall within the January 7, 2025, through October 15, 2025, time period. This includes, but is not limited to:


  • 2024 quarterly estimated income tax payments normally due on January 15, 2025, and estimated tax payments normally due on April 15, June 16, and September 15, 2025
  • Quarterly payroll and excise tax returns normally due on January 31, April 30, and July 31, 2025
  • Individual income tax returns and payments normally due on April 15, 2025
  • 2024 contributions to IRAs and health savings accounts for eligible taxpayers
  • Calendar-year partnership and S corporation returns normally due on March 17, 2025
  • Calendar-year corporation and fiduciary returns and payments normally due on April 15, 2025
  • Calendar-year tax-exempt organization returns normally due on May 15, 2025


Read on to learn more!

SAVING FOR COLLEGE!

TAX BREAKS AND STRATEGIES YOUR FAMILY SHOULD KNOW

As higher education costs continue to rise, you may be concerned about how to save and pay for college. Fortunately, several tools and strategies offered in the U.S. tax code may help ease the financial burden. Below is an overview of some of the most beneficial tax breaks and planning options for funding your child’s or grandchild’s education.


Read on to learn more!

WHATS NEW AT HT2

Hamilton Tharp recently sponsored a group of high school students to attend a San Diego State University Women’s Basketball game at Viejas Arena. This unique opportunity allowed the students to experience the excitement of collegiate sports firsthand while also emphasizing the importance of supporting women’s athletics. The sponsorship, which covers tickets for the students, underscores the critical role that community support plays in promoting women’s sports and inspiring the next generation of athletes. By providing local students the chance to attend a high-level women’s basketball game, Hamilton Tharp is helping to foster a greater appreciation for the dedication, teamwork, and skill involved in women’s athletics.

Timely Resources & Links

Facebook  Twitter  LinkedIn  Instagram  YouTube