Hi,
Q3 estimated payments are due Tuesday, September 15.
If you owed tax last year, you almost certainly need to pay quarterlies this month or face IRS and state penalties. This is not just for business owners – anyone who consistently owes at year-end is required to pay them. Never filed these before? Reply and we’ll handle it.
September 15 is also the extended filing deadline for S-corps and partnerships that went on extension for 2025. If your return is still open, that is the last date.
Since we’re already talking taxes, a few other areas where we typically save clients money or catch issues before they turn into penalties:
S-corp restructuring
If you operate as a single-member LLC, multi-member LLC, or sole proprietor, you are likely overpaying tax, often by tens of thousands per year.
We may even be able to file a retroactive election for the last two years, obtaining tax refunds that can be in the 10s of thousands!
Send your prior & current P&Ls, and we’ll quantify the savings.
That said, once you convert to an S-corp, bookkeeping, payroll, and annual filings must be running properly. We can handle all of it for you in one place:
- Bookkeeping
- Payroll
- Sales tax compliance
- Your personal and business returns
All run by the same team. In most cases we match what you’d pay if you had separate providers, and our fees pay for themselves due to the S-corp savings.
State annual reports
These are separate from your tax return. Common states that require them: NJ, OR, CO, DC, VA, MD, WA, DE, PA, etc. Let us know if you need us to check for your situation. Don’t miss this or you lose good standing with the state!
Reply on any of the above – and if S-corp restructuring sounds right, we’ll discuss how you can have everything completed under one roof on a free 15-minute call with our senior tax advisor.
Sincerely,
—
George Dimov, CPA
Licensed and Insured
(833) 829-1120 toll free
(212) 994-8081 Fax
www.dimovtax.com