Running a business is hard enough, but you also have to administer your business. In this episode, we discuss tax projections, tax planning and business tax return preparation including due dates. Not too exciting but certainly required. In other episodes we review fun things like tax deductions and reasonable shareholder salary.
Jason Watson, CPA, of WCG Inc. (formerly the Watson CPA Group) with Amanda Rowles and Joseph Bassett discuss the housekeeping of operating an S Corporation. Issues reviewed are tax planning including all household income sources ending in mock tax returns. They also discuss Periodic Business Reviews (PBRs) and WCG's model of unlimited business consultation.
They also review the tax filing deadlines for business returns (S Corps and Partnerships are March 15 whereas C Corporations are April 15). And! Just because pass-thru entities do not have an income tax obligation at the federal level, there might be state issues; that is discussed as well.
This material is based on content from our website and our book, Taxpayer’s Comprehensive Guide to LLCs and S Corps.
https://wcginc.com/business-services/periodic-business-review/
https://wcginc.com/corporate-tax-prep/
https://wcginc.com/tax-center/getting-started/
Thank you!
Warm Regards,
WCG Inc. (formerly Watson CPA Group)
2393 Flying Horse Club Drive
Colorado Springs, CO 80921
719-387-9800 phone
719-345-2100 text message
855-345-9700 fax
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