Understanding your tax deadlines is essential, whether you’re filing personal taxes or handling taxes for a business. Here’s a straightforward rundown to help you stay informed:
Individual Tax Returns: You typically need to file your taxes by April 15. However, if this date falls on a weekend or holiday, the deadline will move to the next business day. Need more time? You can extend your filing deadline to October 15 by submitting Form 4868.
Independent Contractors and Self-Employed: If you’re self-employed or do freelance work, remember that you need to make quarterly estimated tax payments. These payments are due throughout the year on set dates.
Partnerships and S-Corporations: These businesses generally have a filing deadline of March 15. If your business follows a different fiscal year, your specific deadlines may differ. Need an extension? You can apply for a six-month extension, which pushes your deadline to September 15, by filing Form 7004.
It’s important to keep these tax deadlines in mind to avoid penalties. Being organized and knowledgeable about your tax responsibilities will ensure your financial health. For tailored advice, consider reaching out to a professional like Accountit, CPA. They can provide customized guidance that suits your specific situation.
Stay proactive and well-informed to manage your taxes effectively!
