Fourth Quarter 2014

Welcome to the fourth quarter of 2014. It’s been an interesting year so far. Let’s jump right in.

First, if you own a small business, like me, your third quarter estimated tax payments are due to your buddies at the IRS by October 15. By now, you should start having a little bit of an idea how your income might go for the year. If you are doing more business than last year, consider bumping your payment to keep up with your higher income. On the other hand, if business is off, then back that withholding off a bit too.

Also, if you are a small business owner and you don’t get your health insurance through a spouse or other plan, don’t forget about the Obamacare open enrollment period for 2015, which runs from November 15, 2014 to February 15, 2015. You got an extra extension into April this year while the government worked out some bugs. That won’t necessarily be the case this year, so double-check your plan, or see what the new ones are. You can go to HealthCare.gov and they’ll redirect you to your state exchange if necessary.

September Jobs Number

The September labor report is due out from the government on Friday. Investors are looking for evidence that August was a fluke or reporting issue and that job growth is still continuing. If the September numbers look good, then we’re all set, economic reports wise anyway, until retailers start talking about how their sales numbers look for the holidays.

While you’re thinking about the holidays, start thinking about your charitable donations as well. Unpack that unused stuff from your garage and kid’s toy closets and get it donated before December 31, to take the tax deduction this year.

And, just for fun, reports say that there is a Lamborghini hybrid prototype that can do zero to 60 in 3 seconds, while getting 57 mpg. That has nothing to do with the fourth quarter, but it sure sounds awesome.

Happy Halloween!

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