2019 Business Tax Highlights
The business tax landscape is constantly changing. Here are highlights of what's new in 2019.
Some key highlights from the video. Watch it to learn more.
1. Due Dates
Remember, all your W-2 and 1099 Misc with non-employee compensation must be filed by January 31, 2020. If not, it could cost you a whopping $50 to $270 per form in filing penalties.
2. Adjust your estimated payments
Remember to adjust and file your quarterly estimated tax payments on time. These payments are due January, 15, April 15, June 15, and September 15, 2020.
3. Know the impact of the new business deduction
Last year marked the first year of the 20% Qualified Business Deduction (QBI). The deduction is complex and can have a tremendous impact on your tax obligation, so make sure you know how to maximize this deduction for your business.