If you do business in the United States, there is a good chance you will be required to file a tax return to the IRS (Internal Revenue Service of USA). That does not always mean you will owe taxes. If your company or investment had a loss, then you may only be required to file your return but pay no taxes. Failure to file this tax return could result in heavy penalties and interest. In certain situations, you may also be required to file a State Return to the Department of Revenue (DOR).
For My Business
If you own a business, we first need to know the type of business you’ve formed in order to determine the file requirements.
Here are some easy ways to tell…
- An LLC with one partner only files an Individual Return
- An LLC with more than one member requires the LLC and all MEMBERs to FILE
- A C CORP files a FEDERAL and STATE tax return
- An S CORP must file a FEDERAL RETURN only, and all owners must file an INDIVIDUAL tax return
Tax returns for LLC are due April 15.
Tax returns for C CORP and S CORP are due March 15.
If you own real estate under your personal name and receive rental income, you will be required to file an INDIVIDUAL tax return to the IRS. Florida does not require a state return in this case. Others states, however, may require a State Tax Return.
For Individuals, you must present by April 15. We can help you file an extension which allows us to present by October 15. In most cases, you only need to file extensions if you owe taxes to the IRS or State government.
If you feel you will need to pay taxes on any gain, please contact us immediately.
Types of Companies
View all Products & Services