Have you submitted your 2019 small business taxes yet? The deadline has been extended to July 15th. You could apply for an additional three-month extension for your taxes to be due by October 15th. It may be beneficial to look into federal relief, such as The Cares Act. This was signed to address coronavirus-induced economic fallout, which many small businesses have been impacted with in 2020. We think it is wise to consult with the tax professional, especially this year, to ensure your taxes are completed correctly and you have taken advantage of financial assistance that is available to you.

Article: https://www.barrons.com/articles/4-steps-small-businesses-can-take-to-lower-their-2020-tax-bill-51592910002

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