The first of March brings thoughts of spring warmth (and showers) but for some of you, it means a tax deadline is only 2 weeks away. If you file a Form 1065 (Partnership) or 1120S (S Corporation), your tax return is due on Friday, March 15, 2019, for the 2018 tax year.
Please note you can file a 6-month extension of TIME TO FILE. However, if you believe any tax will be owed by your business, that amount needs to be sent in by March 15, 2019, or you may be subject to penalties and interest.
Be sure to get your taxes in soon!
Please feel free to leave me your thoughts:
Thomas C. Hodge
Hodge Group LLC
3943 N. Austin Avenue
Chicago, IL 60634
Fox Business: 15 tax deductions for the self-employed.
Good info for the self-employed.
Be aware of potential tax scams! This article explains some of the signs of scammers.
The Motley Fool: It’s Tax Season. Watch Out for These 3 Signs of a Tax Scam.
Good advice if you’re close to retirement.
Kiplinger’s Personal Finance: 5 Often Overlooked Tax Strategies as You Approach Retirement.
The Mercury News: Q&A: Big tax-law changes, IRS understaffed so expect big surprises this tax season.
We were already dealing with the new tax laws and additional changes, plus additional requirements for Head of Household status. Please send your papers to your preparer early.
Business Insider: New federal income tax brackets 2019: How much am I paying in taxes?.
Here’s a preview of what your 2019 taxes will be (returns for 2019 are due in 2020)