As business owners, there are many important things for us to stay on top of each day. From our clients, employees, and ensuring our products/services are of the highest quality, it’s enough to keep one working long hours.
The last thing any of us want to worry about is missing important deadlines that keep our businesses compliant with the laws and regulations. Our time is too valuable to have to use it resolving tax issues with the IRS or other government agencies because an important deadline was missed.
The good news is that we compiled the top eight key dates in 2019 to help all of us stay on track. You want to thank us, don’t you? It’s okay, you can. We recommend something like this:
But enough about our shared love of compiled lists that make our lives easier.
Here are the most important small business tax deadlines you need to know about in 2019.
Small Business Tax Due Dates for 2019
Let’s all agree that the phrase, “tax due dates” is possibly the worst combination of words in the English language. But as we’ve said, we’re here to help ensure that you don’t have to hear even worse phrases like, “You’re being fined”, or “You missed the deadline and now owe bazillions of dollars”. But in all seriousness, the tax deadlines you need to pay attention to will vary, depending on the type of business you have, or if you file by the original deadline, or need an extension (because procrastination is real).
Avoid costly penalties by knowing exactly when you need to file in 2019.
- March 15, 2019 – Original deadline for S Corporations and partnerships
- April 15, 2019 – Original deadline for personal taxes and C Corporations
- May 15, 2019 – Original deadline for nonprofits, charities, and other exempt organizations
- Aug. 15, 2019 – Final deadline for exempt organizations
- Sept. 16, 2019 – Final deadline for partnerships and S Corporations
- Oct. 15, 2019 – Final deadline for C Corporations and individuals
Other Important Dates for Small Business Owners
Oh wait, we’re not done. Tax deadlines aren’t the only important dates you need to know for your business. Several forms or other documents need to be filed throughout the year as well. Make sure the following deadlines are on your schedule so that you can finish everything on time.
File Forms 1094-C and 1095-C
Feb. 28, 2019 (by paper), and April 1, 2019 (electronically)
While your employees need to have their personal 1095-C forms by the end of January, you don’t have to submit the same information to the IRS for another month (or three, if you are filing electronically). In addition to the 1095-C forms, you’ll also need to provide 1094-C forms, which are sent only to the IRS and serve as a cover sheet for the 1095-C form.
File Employee Benefit Plans (form 5500 series) to the Department of Labor
July 31, 2019
These forms are used to file your employees’ annual benefit plan information with the Department of Labor (DOL). You need to file these forms every year. The DOL uses these forms are used to ensure that the employee benefit plans are being operated according to certain standards. Essentially the bottom line is that compliance is our friend, so it’s important to submit these plans.
Plan Ahead for Your Business in 2019
There are many aspects to running a business, and staying on top of the taxes and IRS deadlines is a big part of it. We recommend you work closely with your CPA, HR, and accountants to ensure you stay compliant and on track.
Because at the end of the day, we want you to be this happy about your business.