1 Gather all your records

Before filing any tax forms, you must collect all your paperwork that pertains solely to your business income and expenses. Using a program like QuickBooks is best to keep an accurate record of your income and expenses. It is much easier to have your documents in order so that you and our team can work faster to help get your business taxes filed on time.

If you are a new business owner and have not established a routine in good record-keeping, now is an excellent time to start. This can help you in the near future, to properly account for all your income and save you time and money in the long run.

2 Know what type of entity you have

To determine how to file your business tax returns, it is important to know how your business was formed. Many small business owners use a sole proprietorship designation to report all their business income and expenses. If you run your business as an LLC and are the sole owner, the IRS allows you to file it on your personal tax return. However, if you formed your business as a corporation or elect to treat your LLC as one, then you must prepare a separate corporate tax return. 

3 Have our dedicated team file for you on time

An important reminder is to know that there are filing deadlines when it comes to filing your business taxes. When filing as a sole proprietor or LLC single member, those returns are filed with your personal income tax and are generally subject to the April 15 deadline.

If you are taxed as a C-Corp, you must file it by the 15th day of the fourth month following the close of the tax year, which for most is April 15 or the next business day if it falls on a weekend or holiday. If you are taxed as an S-Corp or Partnership, you must file it by the 15th day of the third month following the close of the tax year, which for most taxpayers is March 15.

Our team of advisors is here to help you with the task of filing your business taxes correctly and on time.