Accounting News and Notes

Duluth/Gwinnett CPA: Don’t Delay: Final Due Date for Corporate Income Tax Returns is September 15, 2012

There is no extension beyond the final due date of September 15, 2012 for the filing of your corporate income tax returns (IRS Form 1120 & IRS Form 1120S) for the 2011 tax year. Do not “pass go” do not expect a reprieve, you need to get in touch with your CPA today as the IRS does not allow a corporate tax return to be timely filed beyond this date.

Please be reminded that an extension to file is not an extension to pay that that both the IRS and state of Georgia require taxpayers to pay their taxes as the tax monies/taxable income is earned.

Please be reminded that the final date for the filing of personal returns is Oct. 15th and that beyond that date the IRS will assess late filing and payment penalties and interest.

Tax Deductions for Businesses

Finding (and Tracking) Business Tax Deductions
Whether you are a new business owner or have owned your company for years, missed business deductions are a consistent cause of concern. Discover new ways and methods to improve your business tracking skills. See http://www.hiscpa.com/maximizing-deductions.html

Business Expense Documentation
Business expenses and their adequate documentation is key to running a successful business. Learning the ins and outs of what is required will both raise the efficiency of how you run your business and ensure that you always have proper documentation in the event of an audit. For more information visit http://www.hiscpa.com/business-expenses.html

Handling Automobile Expenses
Vehicle expenses are perhaps the most discussed while still being the least understood of all the tax code sections. Read how this section of tax law can be made simple so that all might understand.  To learn more see http://www.hiscpa.com/autos.html

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