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Record Retention
The IRS required that taxpayers maintain accounts or books of record capable of enabling a reviewer to establish the correct income, deductions, credits or other matters affecting tax or informational returns. No specific recordkeeping requirements are contained in the IRS Code; however, the following guide complied by the American Institute of Certified Public Accountants […]

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I just went through IRS audit. There are couple of things I learned.
1. Keeping corporate records about shareholder and directors meeting is very important. Also keeping corporate minutes from all important decisions by board of directors and shareholders. It doesn’t matter if you have one man company. You still have to do meetings and keep the […]

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Estimated tax payments for Corporations and S Corporations must be sent to IRS each quarter . Payments are due on the 15th day of the 4th, 6th, 9th, and 12th months of the corporation’s tax year. If you didn’t send the payment for the first quarter do it as soon as possible. Check our tax calendar […]

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Here is some information form IRS regarding Calendar Year vs. Fiscal Year“A year is a year, right? Yes and no. Different types of businesses may use different types of “tax years” when it comes to figuring taxable income. A tax year is an annual accounting period for keeping records and reporting income and expenses.A calendar […]

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If you operate your business as a corporation, the corporation must file Form 1120, U.S. Corporation Income Tax Return. For corporations with a calendar tax year, the due date for the annual return is March 15. The corporation may apply for an automatic six-month extension. Small business bookkeeping.
Popularity: 6% [?]

Popularity: 6% [?]

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How do you like doing paperwork? If you rather spent time building your business we have great proposition for you. We will file all forms you have to file at no cost. Just subscribe to our small business payroll program. The cost is only at $39.99 per month (up to 10 employees)! If you have […]

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