Yay, Taxes! When To File Business Taxes in 2019

2019 Business Tax Calendar from ASCEND Business Advisory
Categorized as Taxes

The 2019 Federal Tax Calendar for Business Owners

There’s good news in 2019! Yes, you still have to pay your taxes, and paying them on time is a great idea. So, what’s the good news? Paying taxes means your business is making a profit! But there’s a catch.

There is a new tax law for your 2018 taxes, along with some changes you’ll want to keep an eye on for 2019. In either case, you’ll need to stay on top of the calendar. Whether you’re a C Corp, an S Corp, an LLC or a sole proprietor, here are the key dates for your 2019 Federal Tax Calendar filings straight from the  (check out the IRS calendar for all dates, including payroll). Below are the key business tax dates in 2019:

  • Individuals (Sole Proprietorships): Form 1040 is due on the 15th of the 4th month following the end of your tax year.
  • Partnerships: Form 1065 is due by the 15th day of the 3rd month following the end of your fiscal year.
  • Corporations: Form 1120 is due by the 15th day of the 4th month (3rd month for S Corps) following the end of your fiscal year. And remember your estimated taxes, due on the 15th of the 4th, 6th, 9th, and 12th month of your fiscal year.

Key Dates in 2019

If your fiscal year falls on the calendar year, here are the key dates for 2019 Business Taxes:

  • March 15th: S-Corp and Partnership 2018 filings due.
  • April 15th: File your first estimated tax for 2019. Also file your 2018 income tax (1040 or 1120).
  • June 15th: File your second estimated tax payment for 2019 and your 1120
  • September 15th: File your third estimated tax payment for 2019. If you filed an automatic 6-month extension back in April, this is also your new due take for filing 2018 taxes.
  • December 15th: Your fourth and final estimated tax payment for 2019.

So, what’s new in 2019 filings?

  • Forms 1040A and 1040EZ are gone. All you need now is the good old 1040.
  • Also gone is the form 1065-B for tax years following 2017.

FAQ: 2019 Business Tax Filing Questions

Some common questions business owners are asking fo 2019 Business Tax filing dates:

  1. What is the Due date for a corporate tax return? April 15th, or the 15th day of the 4th month following the end of your fiscal year.
  2. What is the due date for LLC tax returns? April 15th.
  3. How do small business owners file taxes? Depending on your business formation, you’ll pay estimated taxes throughout the year and file with either a 1040 or an 1120. Contact us for a free consultation to make sure you’re filing properly.
  4. Do I have to pay taxes on hobby income? Yes.
  5. What taxes does an LLC pay? The IRS treats LLC income just like personal income, so you’ll personal income taxes on your profits on a 1040.

How Do I Stay Current and Compliant with My Taxes?

Keep the stress out of your business taxes in 2019. Stay current on your records, including financial transactions and receipts. Check our our back office accounting system and take advantage of ASCEND’s complimentary consultation and take advantage of our Tax Services.

Here’s to a profitable 2019!

Categorized as Taxes