Death, taxes, and childbirth, always inconvenient and usually painful! But I hope this article has helped relieve some of the pain from filing your LLC taxes. And remember, the secret to a long happy relationship with the IRS is timely compliance, knowing your liabilities, and which tax forms...
IRS Free File is focused on federal tax returns, not state returns, so you’ll need to pay extra attention if you live in a state with income taxes. A few of the IRS Free File offers, like OLT.com and FreeTaxUSA, give a free state filing to anyone who qualifies for a free federal...
The tax year always corresponds with the calendar year, from January 1st to December 31st. Your federal income taxes are due by April 15th every year, but you can request an extension which will give you until August 15th to file them. Keep in mind that even if you file for an extension...
If you run your business as a corporation, or decide to treat your LLC as one, then you need to prepare a separate corporate tax return on Form 1120 (or Form 1120S if you are an S-Corp, or Form 1065 for a partnership and/or multi-member LLC). When it’s time to file...
If you’re preparing your taxes, you'll file federal income tax Form 1040. Geoff WilliamsMarch 20, 2025 How to Choose Your Filing Status Choosing a tax status can be harder than it looks, especially if you’re new to taxes or if you’ve had a recent life change, such ...
Sole proprietorship/LLC/partnership businesses aren’t subject to corporate income tax; you’d fill out your personal tax return and pay the taxes on those profits at your individual income tax rate. → Learn about14 tax tips for business owners. ...
No matter how small your business, you’ll likely need to file and pay taxes. Here’s our guide to filing small business taxes in 2025.
California LLC Statement of Information fee There is a$20fee to file a Statement of Information. Preferred method of filing As of 2025, the California Secretary of State only accepts LLC Statement of Information filings online viaBizFile.
While your owner’s salary is subject to self-employment and payroll taxes, you can take additional company profits as distributions, which are taxed as ordinary income and don’t incur self-employment tax. 📚Learn: How To File Business Taxes for LLC: What To Know Management structure LLC...
The S corp is available only to small businesses with 100 or fewer shareholders. It is an alternative to the limited liability company (LLC). Both S corps and LLCs are known as pass-through entities because they pay no corporate taxes. Instead, they pay their shareholders, who become respon...