5. Meet Your Deadlines
Annual returns are due on April 15 for unincorporated companies and S corporations.
C corporations must file within 2 ½ months from the end of their fiscal year.
Estimated Taxes are due 4 times a year: Jan. 15th, April 15th, June 15th & Sept. 15th.
Sales Tax is due quarterly or monthly, depending on what state your business is located in.
Employee taxes are due either weekly, monthly or quarterly, depending on the size of your payroll.
6. Update Your Accounting
Spend time each year reviewing your accounting practices to ensure that your books are up-to-date and accurate. Speak with your accountant about your procedures and ask if your current computer accounting system is the right system for your business.
7. Always Keep Your Tax Documentation for Seven Years
Although no one is looking for an audit, it is better to have your documentation ready if it happens.