Question by Shay nay nay: Filing taxes for a small business?
I started a small business in 2007 and earned a little over 10k in gross income. Do I have until April 15th to file taxes for my small business just like my personal filings?
Best answer:
Answer by russianator
yes…..unless you want to get bu*t rapped in prison
Give your answer to this question below!
Yes you do if it is not incorporated.
If you owe taxes, well, those may have been due earlier. See Form 1040ES
It all depend on if your company is set up as Corporation or self-employed. If Corporation, you must file company first then file personal. If self-employed, then file altogether before April 15th, just like personal.
you better before you go to jail
Depending on how you file (many small businesses add it in as income earned via their federal & state taxes, with a Schedlule C form) yes. Remember that sales tax needs to be sent in separately.
Contact your department of revenue in your state with specific questions–you can find them online with an easy google search. Each state has some differences and the filing dates for sales tax can vary considerably.
Yes.
But, I hope you kept your business accounts separate from your personal accounts.
In the future, you should also set aside money for “estimated tax payments”. Just because you’re self-employed does not mean that you can pay everything you owe for the whole year on April 15. The IRS demands that you withhold money, and send them a check every three months.