Taxes 101

 Deadlines! Don’t miss em!

If our deadlines are missed (March 1 for individuals, February 15th for partnerships) you will automatically be placed on extension.

Personal 

March 1st - Deadline for individual (and married) filers to upload all their documents  to the Link portal. (All, meaning you aren’t missing any 1099s and every question is answered)

April 15th - IRS deadline by which tax returns must be filed and payments received. Extensions must be filed with estimates for those extending by 6 months. 

SMALL BIZ/Freelancer

January 15th - Deadline for business owners to provide information for us to mail 1099s. If you paid any independent contractors more than $600, you must upload the requested documents to the Link portal so that we can mail the 1099s by the IRS deadline of January 31st.

March 1st - Deadline for individual (and married) filers to upload all their documents  to the Link portal. (All, meaning you aren’t missing any 1099s and every question is answered)

April 15th - IRS deadline by which tax returns must be filed and payments received. Extensions must be filed with estimates for those extending by 6 months. 

Partnership 

February 15th - Deadline to upload documents  to the Link portal. 

March 15th - IRS Deadline for filing partnership returns 

EXTENSION

March 15th - Deadline to request an extension and make an estimated payment.

July 1st - Deadline for individual (and married) filers to upload all their documents  to the Link portal. (All, meaning you aren’t missing any 1099s and every question is answered)

October 15th - IRS deadline for extended returns to be filed and payment to be made.


Where to Upload Documents

Returning clients, please click here to sign the engagement letter before you upload your documents.

Access the Intuit Link portal.



Expense organizers for freelancers

General business owner

(applicable to most business owners and freelancers)

  • Download excel here

  • Download PDF here


tax jargon

Federal return - the main tax return that is filed with the IRS (federal government) but MOST taxpayers must also file a state return in the place they live.

1040 - the form number for the personal tax return. Almost every taxpayer must file a 1040. Accountant speak: We’ve got about a hundred 1040s to prep before the deadline.

Extension - taxpayers can request (in writing, by April 15th) an automatic 6-month extension to file their tax return. The extension deadline is always October 15th. BUT!!! If money is owed (or might be owed) with the return, an estimated payment must be made with the extension. Penalties and interest will start to pile up after the April 15th deadline is missed. Accountant speak: If my clients don’t give me documents by March 1st, they are all going on extension.

Estimated payment - a payment made directly to the IRS.