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Small Business Tax Returns in 2019. Here’s What You Should Know.

Mark these deadlines

As a small business owner, it can feel like tax deadlines constantly sneak up. Quarterly estimated taxes? Sending 1099s to contractors? Income tax day? It can be all too easy for busy business owners to overlook the tax calendar, missing a due date and facing a penalty.

“We’re here to help! Bookmark this post and resolve to never find yourself blindsided by a small business tax calendar deadline.”

Note: This post assumes that you are a sole-proprietor or small LLC with no employees. If you do have employees, just note you’ll also need to deal with payroll tax and sending out W-2s to your employees. Also, tax obligations can vary from business to business. Always be sure to check with a reputable tax pro if you are unsure what taxes apply to your industry and business.

January 2019

Jan. 15, 2019: Your quarterly estimated tax deadline for Q4 2018 is due on this date. Not sure what to do? Read our guide to quarterly estimated taxes.

Jan. 31, 2019: Today your form 1099-MISC is due to the IRS. Find out how to prepare a 1099-MISC form to send to contractors.

February 2019

Feb. 15, 2019: Today is the last day to get form 1099-MISC to your contractors. We cover how to provide form 1099-MISC to your contractors here.

March 2019

March 15, 2019: If your business is set up as an S-corporation or a partnership, your corporate income tax return is due today. Yes, that’s a full month before the deadline for personal income tax returns and returns for businesses that are set up as sole-proprietorships or LLCs!

If your business is a partnership the IRS requires you to file form 1065.

If your business is an S-corp, the IRS requires that you file form 1120-S.

Fittingly, this is also the final day for businesses set up as partnerships or S-corps to request a six-month tax extension. Find out more about requesting a tax filing extension here.

Pro tip: Keep in mind that an extension allows you extra time to file, but does not extend the time you have to actually pay your income tax.

Photo: IRS Form 7004

April 2019

April 15, 2019: Aka “Income Tax Day.” If your business is a sole-proprietorship or LLC, your income taxes are due today. File your Form 10401040-A or 1040-EZ today, and pay any additional taxes you might owe that you didn’t pay in quarterly estimated taxes.

If your business is set up as a C-corporation your income tax is also due today. The IRS requires that you file Form 1120.

Q1 2019 quarterly estimated taxes are also due on April 15.

And last but not least, today is also the final day to request a six-month tax extension on your time to file your income tax return.

June 2019

June 17, 2019: Today is the deadline to pay Q2 2019 quarterly estimated taxes.

September 2019

Sept. 16, 2019: Today is the deadline to pay Q3 2019 quarterly estimated taxes.

This is also the income tax filing deadline for partnerships and S-corps that requested a six-month income tax filing extension.

October 2019

Oct. 15, 2019: This is the last day for everyone who files business sales tax as an individual (sole proprietorships, LLCs, etc.) and C-corps that requested a six-month tax filing extension to file income tax.

January 2020

Jan. 15, 2020: Today is the deadline to pay Q4 2019 quarterly estimated taxes.

What about the state and local tax calendar?

Most businesses are required to pay income tax not just to the federal government, but to the state, too. Depending on your location, some businesses are even required to remit taxes to local areas such as cities and counties. How and when to pay taxes generally falls along the same tax calendar as federal taxes, but can vary by state. That’s why we recommend contacting your state’s taxing authority for more info. You can generally find this by searching “your state” + “Department of Revenue.”

The above content should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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COVID-19 Update

As a COVID-19 essential service, we are open for business and are committed to providing safe and efficient moving services to our customers.

Our Commitment to You

We are committed to moving you safely. In these unprecedented times, we take our role as essential service providers very seriously. We will continue to provide services while following recommendations from the CDC and the WHO while working to protect our customers and front-line employees.

Limiting in-person contact is the best practice when limiting the spread of COVID-19. While our business requires we enter the residence to provide packing and loading services, we can conduct the quote process via virtual survey.  While the staff is working remotely, they are available to customers, agents and drivers during the same business hours and in the same manner as if they were working in the office.

As you plan and prepare for your move, here are some steps you can take:

 

  • Rather than greeting the crew with handshakes, greet them in some other way, verbally for instance.
  • To ensure everyone’s health and safety, if you or anyone within your household may have contracted Coronavirus, or are isolating due to exposure to the virus, call us and explain the situation; in many cases, we will try to work with you
  • If you must cancel your move, be sure to ask questions about how we are managing cancellations now
  • Your health and the health of your family is important. If you are in a vulnerable group, over 60 or have a compromised immune system, schedule your move after the pandemic is over if it is at all possible.
  • Provide the moving crew access to a sink, soap and paper towels throughout your move. If this isn’t practical, and it is readily available, provide hand sanitizer
  • Purchase new moving boxes and tape; this isn’t the time to use recycled boxes from online sources and free sites or from stores
  • If you have not already purchased food for the next couple of weeks, you’ll want to stock up on items that you eat regularly. Any shelf-stable items can be donated to Move For Hunger before your move to lighten your load
  • When moving long distances, you may want to fly in to meet your moving truck. Be sure that you book refundable plane tickets and select hotels that offer free cancellation. Ask about cancellation policies before you book, and remember to read