There’s a new season upon us. Don’t let that 70-degree weather we’ve been having fool you—it’s not quite spring yet. We’re smack dab in the middle of tax season. Don’t let this part of your business frustrate or confuse you—and don’t put it off. We have a few tips for you, and some resources, to help you through the season.
Know your deadlines. Depending on what kind of business you are, your filing deadline may have changed this year—for example, S-Corps and partnerships should file by March 15, while C-Corps now have until April 15. And for your personal taxes, we’ve all got a few extra days and have until April 18. See the IRS’s full calendar.
Get up to speed. Our affiliate, the Denver Metro Small Business Development Center, can get you up to speed with its Financial Literacy Track, which includes a class just on business taxes on March 1 with CPAs from our member EKS&H.
Find a pro. For your business and all its complexities, be sure to consult with a certified public accountant (check out our membership directory to find one). There are also great resources for personal taxes for those making less than the average wage in Denver. Tax Help Colorado (provided by The Piton Foundation and the Colorado Community College System) offers free tax preparation for individuals who earn less than $54,000 per year—something they’ve done for the last 10 years as a community benefit. Share this information with your team, or if you’re a tax preparer and want to lend your expertise, offer up your skills.
Taxes can be confusing, but there are plenty of resources at your disposal to make your tax season easier.
Kelly Brough is the president and CEO of the Denver Metro Chamber.
