Business owners have their hands full with startups. Consequently, taxes seem to only further muddy the water. But having key tax dates on hand in one organized calendar can simplify and streamline tax deadlines for businesses, especially C-Corps, Partnerships, and S-Corps.
In this colorful calendar, business owners can see at a glance that April 17 is tax day, and April 18 is the extension due date. Beyond these types of expected deadlines, the calendar also lays out less familiar dates such as October 16 as the extended returns deadline. Furthermore, the calendar shares helpful tips such as the LLC CE franchise annual fee is due by June 1st, and the standard federal tax deadline is 3.5 months after the end of the month where the tax year ends, unless you use the year-end date.
What if your business has 10% or greater foreign ownership? Then you may be glad to be reminded to file a foreign investment form by May 31. Otherwise, you could end up with a penalty ranging from $2,500- $10K and—what is more—criminal charges.
Using this organized graphic may not only help with those complicated taxes, but make those
muddy business startup waters crystal clear.