The IRS needs to have an accurate report on how your busy business performed last year down to the dollar amount, so you’re considering hiring Trujillo Tax Service to do your Business Tax Filing St. Paul, MN. Here’s an overview for filing business taxes in MN. Check this out if you’re looking for filing your individual tax return.
What do I need for filing business taxes in St Paul?
A business needs several documents to file business taxes. They need a 1099-C document as well as any 1099 proving the hiring of any contractor or subcontractor that has been paid in excess of $600. The business needs to also produce the 1099-MISC document, that categorizes any supplementary income.
When do businesses file taxes in Minnesota?
Businesses file taxes in Minnesota every 3rd months, from April 15. These payments are usually forgotten by many first-time business owners and the IRS charges 8% interest on these overdue debts that are usually paid at tax filing, but easily preventable with paying taxes on time.
When does the IRS fiscal year start and end?
January 1st to December 31st. The deadline to file taxes is on April 15th to give people time for the fiscal year to be accounted for.
When do I pay business taxes?
Quarterly. If you have tax obligations and you are not paying your quarterly business taxes, you will also pay the IRS interest rate when you file annually.
Why should I pay business taxes?
Not paying business taxes means that the IRS can seize your company’s assets or force a wage garnishment on the income. If this case ever happens and the amounts are high, businesses hire Enrolled Agent Rudy Trujillo to represent them in front of the IRS. Trujillo has negotiated on behalf of individuals and companies with large tax liabilities, give breathing room, and a way for the business to keep their operation and assets.
St. Paul Trujillo Tax Service Reviews
Trujillo testimonials are on our Google pages. With 25+ years of service, we’re working diligently to continue to re-earn our St Paul Latino tax prep clients’ every year.
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