ATTENTION: An Important Notice to Our Clients - View Message
Spina CPA

UPDATE 5/26/20

Gov Tom Wolf has extended Philadelphia and it's surrounding counties stay at home order until June 4th. PA will enter the yellow phase of reopening starting June 5th. Construction has resumed in Philadelphia as of May 1st and starting June 5th retail stores will be allowed open.

Per guidance, as of March 19th, Spina & Company PLLC, is open and operational as an essential business. Please continue to email and mail your tax documents and organizers. If you need to drop off tax documents and organizers please do so as we are here working at the office.

Spina & Company, PLLC- Tax and Accounting Clients

The IRS has extended the 2019 federal tax filing and payment deadline from 4/15/20 to 7/15/20. PA state has announced that all 2019 tax filings and payment deadlines will be extended to 7/15/20. Philadelphia Business Tax Deadline has been extended to 7/15/20. We will continue to update our website: https://spinacpa.com/ as new information is released. Please reach out to the following staff member of the accounting firm if you need further assistance.

Spina & Company, PLLC Property Management- Tenants

UPDATE 5/26/20

Although your monthly rent is still due on the first of every month, we acknowledge that our tenants may be experiencing difficult financial times amid the Covid-19 pandemic. As a remedy, we have decided to continue to waive all late fees and absorb costs for E Check ACH transfers of $1/check and Credit/Debit Card payments of 3% of total rent.

Additionally, if you need an alternate payment schedule please contact property managers, Joseph Bernstein at jbernstein@spinacpa.com or Sameer Ahmed at Sameer@spinacpa.com as soon as possible. Please be advised that communication is still expected for any late payments of rent.

A Message From Joseph Bernstein, Property Manager

Should there be a fire- call 911 and then the office line. Should there be a flood that is life threatening - call 911 followed by the office. 

In regards to payment of rent, we will be emailing you the invoice for the month's rent and this will take you to a screen where you can either enter your banking information to pay by check or your credit card information.

The current situation is fluid for all of us. We are taking things day by day. We hope to be able to resume normal business operations and services as soon as we are allowed to.

CPA & Property Management Firm

2220 Fairmount Ave, Philadelphia, PA 19130

Monday - Friday:
9:00am - 05:00pm

What Are Estimated Taxes?

Estimated tax is a method of paying tax on income that is not subject to withholding tax. This can include income from self-employment, business earnings, interest, rent, dividends and other sources. The IRS requires estimated tax to be paid quarterly, typically in 4 equal installments. If you underpay your estimated tax, you will have to write a bigger check to the IRS when you file your tax return. If you overpay your estimated tax, you will receive the excess amount as a tax refund At Spina and Company we will calculate and provide estimated quarterly tax estimate coupons for you to easily pay and mail. We also provide quarterly email reminders to pay.

Estimated taxes are due generally following the below schedule:

  • January 1 – March 31: Deadline is April 15
  • April 1 – May 31: Deadline is June 16
  • June 1 – August 31: Deadline is September 15
  • September 1 – December 31: Deadline is January 15 (of the following year)

Tax Extensions

If you miss the tax deadline, it is in your best interest to file an extension and then file your tax return as soon as possible thereafter to avoid major fines and penalties.

Partnership penalties for failure to file an extension are extensive. A partnership return on Form 1065 is required even though the partnership has no taxable income. A penalty of $195 per partner per month is imposed on the partnership for failure to file a timely or complete Form 1065 (a maximum of 12 months’ penalty).

File an Extension for Individual or for your business with Spina & Company to avoid significant interest and penalties. By filing an extension you can have flexibility to file after the tax return deadline, for up to 6 months.

Consult with Our Team of Tax Experts

If you are seeking help or expertise with estimated taxes or extensions, please contact one of our expert consultants today. With over three decades of tested and true experience, Spina CPA has the proper resources and knowledge to help you with your tax service needs.