There are many compliance related activities we need to perform as a business owner. Yes, they are not the "sexy" side of being an entrepreneur; however, they are critical. Business filings imposed by federal, state, and local governments is one of those not so fun compliance activities. Failing to file these business filings can result in significant and often costly consequences.
In this episode, we discuss the filing requirements, documents to file, and deadlines for 5 different categories of business filings, including:
Payroll tax filings - W2s, Form 941, Form 940, and state withholding tax filings
Subcontractor filings - 1099 filings
State Annual Report
Income Tax Filings - Partnerships, LLCs, S-Corporation, Corporation, and Individual tax filings
Sales Tax Filings
We also discuss what it means to extend an income tax return...HINT: it is an extension of time to file and NOT an extension of time to pay.
Worried about missing a filing or wondering how you can remember all the important deadlines? Well, listen in as we discuss some of the best practices you can use.
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