Tax Deadlines

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Businesswoman relieved from resolving her issues before the tax deadlines Deadlines include anytime something is due. This can include well known tax deadlines like April 15, or extension deadlines, or payment deadlines. These posts cover upcoming deadlines, or a reminded that actions need to be taken by a certain date or there will be repercussions.

It is important to stay in compliances with tax deadlines, or you will run into statutory penalties and pay interest and fines. Any state or local authorities that you file with may also have various deadlines, and they sometimes have more unreasonable penalties. For example, Florida Reemployment (called unemployment insurance everywhere else) has a $25 minimum penalty for not filing your quarterly notice on time. For halted companies that may no longer have payroll, you might be paying a $25 fine for not getting  $0 form turned in on a timely basis. When you multiply this by the various forms you might need to submit, if your business dealings use a series of LLCs or other business entities, you may find an unreasonably high risk related to failure to file.

Part of what inspired us to launch our Starter Package was that staying on top of every tax deadline takes up time every month, a trivial amount of time for a tax firm, but a large amount of time for normal small business owners. By reviewing your books monthly and tracking all of your filing deadlines, we can avoid penalties, reduce interest, and simplify the lives of our tax and accounting clients.

By getting extensions in on time, filings on time – either the original tax deadline or the extended one – we can help you save money, reduce stress, and build your wealth.

Filing a Previous Year’s Tax Return

By |2023-06-16T10:33:51-04:00May 30th, 2023|Categories: #TaxTipTuesday|Tags: , , , , |

I will discuss how and why to file taxes for a previous year. Filing and paying taxes may not be thrilling, but ignoring them leads to costly IRS penalties and interest. So, if you want to learn more about this topic, keep reading.

Extensions Have Benefits?!

By |2023-04-13T11:48:06-04:00April 13th, 2023|Categories: Quickies with Bette|Tags: , , , |

If you can’t file by the deadline (April 18th),  the IRS allows taxpayers to file for an extension to October 15 if they need more time to prepare their tax return. The IRS grants them automatically if you complete the proper form on time. You can submit Form 4868 electronically or on paper to file an extension; just make sure you do this before the filing deadline. 

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