If you had a March 15th due date on your S-Corp or Partnership return and it was extended, it is now due September 15th. If you had an April 15th due date on your C-Corp or personal return and it was extended, it is now due October 15th of 2021.
If you have an S-Corp or Partnership, then we cannot complete your personal return before completing your business return first.
Please also remember that extending your income tax return does nothing but extend the due date of the return. It doesn’t extend the due date of any payment that was due on the original filing date.
As such, if any payment is due, you may be required to pay penalty and interest. Either way, get your work into us today.
Let me leave you with this.
As we complete the year ends that were extended, I’m being pleasantly surprised and frankly impressed by the numbers. It seems as though many of you took my advice, and used the pandemic to your advantage.
Our competitors went out of business, and their customers needed a new home. Many have seen impressive gains in both their sales and net incomes.
Others used the downtime to renovate their places of business or develop new profit centers. I’m seeing numbers from some of you that I didn’t think were possible.
It all came down to one thing; not caving into the fear.
I’ve always been an aggressive salesman. I learned years ago growing up in my mother’s business, that you can’t catch fish if you don’t go fishing. I also learned that you’ll probably catch more fish if you’re the only one at the fishing hole.
The last seventeen months have offered a once-in-a-lifetime opportunity.
Many sat home, afraid, watching the numbers climb on CNN. Others went fishing and filled their coolers.
If you were one of the strong that went fishing, I commend you. It wasn’t easy, nothing worthwhile ever is, but you did it. As such, you deserve the spoils of war. Moving forward, let’s not forget what we’ve learned.
Be aggressive. Be strong. Lead.
We aren’t out of this mess by a long shot.
Accounting Solutions Ltd. stands ready to complete our mission and purpose of protecting you, your family, and your business. Whether you need help with Employee Retention Credits, PPP Loan Forgiveness, Payroll Service, or Bookkeeping and Tax Work, please contact us today. I’m here and I remain,
Accounting Solutions Ltd.
Note that the only professional services provided by Accounting Solutions Ltd. are those specified in a written communication from our office detailing the scope of services to be rendered and the terms and conditions applicable to the engagement.