Nichols Business Solutions LLC

01/12/2024

03/01/2022

When Are Business Taxes Due in 2022?

For most small businesses, including sole proprietorships, household employers, and C corporations, business taxes for the 2021 tax year are likely due April 18, 2022.

For S corporations and partnerships, taxes are due March 15, 2022.

The April 18th tax deadline applies mainly to sole proprietors, single-owner LLCs, freelancers, household employers, and C corporations. In contrast, S corporations and partnerships must file taxes for the 2021 tax year by March 15, 2022.

If you don’t pay your estimated taxes on the day they’re due, the IRS will charge you a late fee.

An extension will give you six more months to file your tax paperwork. You must apply for a tax extension no later than your typical tax due date.

Sole proprietors and single-owner LLCs:
If you own a sole proprietorship—or if you’re the only owner of your LLC—then you’ll simply need to file Schedule C as part of your Form 1040, which is the form you file with your personal tax return.

Partnerships, S corporations, and multi-owner LLCs:
Partnerships, S corporations , and LLCs with multiple owners need to fill out Form 1065. These businesses pass profits (or losses) through to the business owners, who report their earnings on Schedule E on the 1040 Form. They should receive a Schedule K-1 form to help them fill out Schedule E.

C corporations:
C corporations should file their corporate taxes with Form 1120. Owners receive a Form 1099-MISC to report any dividends on their personal income tax returns.

02/28/2022

Keep climbing towards your dreams. Let us at Nichols Business Solutions LLC help you bring it to reality.
Need an LLC? Let us help you. Call 954-661-7064 for a free consultation today.

01/21/2022

Check out this story....Awesome example.

Investor Kevin O'Leary thinks 29-year-old Jordan Myers has done a "great job" with his budget. Here's why.

01/21/2022

💥💥💥💥Important information💥💥💥💥

The IRS is warning of delays for returns if IRS systems detect possible errors, missing information, identity theft or fraud.

Refunds that include Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) cannot be issued before mid-February.
Those refunds are required by law to be held.

The IRS will be mailing letters to people who received Advanced Child Tax Credits (Letter 6419) and the Recovery Rebate Credit (Letter 6475) for the third Economic Impact Payment (EIP 3). Each letter will report the total payments that you received. Your 2021 tax return will need to match the total on the letter(s).

If you have an IRS account, you will be able to go your account and download your 2021 payment total for the ACTC.

Please make sure that the information you provide for your tax filing agrees with the letter(s), to prevent refund delays.

Always ensure your tax identification numbers and filing address are correct before your return is filed.

Call us at 954-661-7064 if you have any questions.

01/19/2022

Need your Business or Individual taxes done?
Call 954-661-7064 today!

01/18/2022

Tax Time! The IRS will begin accepting returns on next Monday 1/24/22.
Call us at 954-661-7064 today!

11/10/2021

Want to sound more confident? Avoid these words and phrases that make you look 'weak'.

"Does that make sense?"
What to say instead: "What are your thoughts?" or "I'd like your input on this."

If you ask "Does that make any sense?" after you've finished sharing a thought, you're immediately giving the impression that you're not convinced yourself, and that your idea might be incomplete.

Rather than seeking validation or approval, you should be asking the listener or reader for their opinions on your idea.

Have a Winning Wednesday!

09/23/2021

Got a Business idea 💡? Let us help you make it a reality. Call 954-661-7064.

Need an LLC or S-Corp? We can help you with that too. Let's make it happen!

09/09/2021

September 15th is 7 days aways! Call us at 954-661-7064. Let us help you meet your deadline.

08/16/2021

We take the anxiety of Tax Preparation away. Let's talk and get it done. The deadlines are upon us! Call 954-661-7064 today! We're here for you!

08/16/2021

Embracing Big Desires/Dreams? Make a plan and go for it!

We are here to help you achieve your Dreams. Please call us at 954-661-7064. Let's do it together!