As a business owner, your focus will always be to grow your business. But while you are finding these new opportunities, you are faced with a variety of challenges that can include managing your accounting and business taxes. We can relate with how frustrating this can be.
The following is a quick guide to help you better navigate the maze of business taxes. Need more help than that? Not a problem, MiklosCPA can guide you through!
We’ll provide you with a customized set of services to help you ease your stress and worry about your books so you can sleep at night. Here is a quick reference guide for some of the tax forms you may need:
| Your Business | Responsible for | Reporting |
|---|---|---|
| Partnership | Annual return of income Employment taxes Excise taxes | IRS Form 1065 IRS Form 940 / 941 / 944 / 943 Excise Tax Forms |
| Partner in a partnership (individual) | Income tax Estimated tax Self-employment tax | IRS Form 1040 Schedule E IRS Form 1040-ES IRS Form 1040 Schedule SE |
| Sole proprietorship | Income tax Estimated tax Employment taxes Excise taxes Self-employment tax | IRS Form 1040 Schedule C-EZ / C / F IRS Form 1040-ES IRS Form 940 / 941 /944 / 943 Excise Tax Forms IRS Form 1040 Schedule SE |
| S Corporation | Income tax Estimated tax Employment taxes Excise taxes | IRS Form 1120-S IRS Form 1120-W IRS Form 940 / 941 / 944 / 943 Excise Tax Forms |
| S Corporation (shareholder) | Income tax Estimated tax | IRS Form 1040 Schedule E IRS Form 1040-ES |
| C Corporation | Income tax Estimated tax Employment taxes Excise taxes | IRS Form 1120 IRS Form 1120-W IRS Form 940 / 941 / 944 / 943 Excise Tax Forms |
Remembering IRS filing deadlines for your business taxes and forms is a business by itself. However having a reliable tax firm, like MiklosCPA, a California based CPA practice can show you how to reduce your potential tax penalties by filing the right business tax forms correctly. Give us a call to set up a free consultation for your tax and accounting needs.
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