If you own a business you know how stressful tax deadlines can be. Between gathering paperwork, submitting everything, and trying to stay organized it can be overwhelming. What’s worse, there can be some pretty severe penalties for businesses that do not file their documents on time. This is why it is more important than ever to keep your business organized.
Missing the deadline for corporate income tax filing can lead to fines of up to $25k for businesses. Other missed deadlines can lead to additional fees and even percentages of the late filing fees being owed. The fact that different documents are due at different times can make it difficult to stay on top of every deadline. This is what can lead to penalties and fines adding up which can be detrimental to start up businesses. Keeping a calendar of all tax related deadlines can help avoid missing these important dates.
With deadlines for business tax filing happening all throughout the calendar year, a calendar allows business owners to have a better view of when they should be preparing different documents. To learn more about the tax deadlines for business and to find a calendar that works best for you, take a look at the infographic below: