GliddenHolt & Associates

Truth is always worth it in the end. No matter how tempting it might seem to take the easy road, sticking to the truth will always pay off.

Know your tax deadlines!

One of the biggest reasons business owners miss tax deadlines is simply by not knowing them well enough. If you know the dates, and plan ahead, filing your returns on time should be doable. If you need any help with tax filing for your business, just visit www.gliddenholt.com and reach out to us!

Small-business owner? Your business tax-filing deadline for the 2021 tax year is probably April 18, 2022. If you're filing taxes in Maine or Massachusetts, where the 18th is a state holiday, you can file taxes on April 19, 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.

What about extensions? If you need an extension, you can apply for one.

However, bear in mind that a tax extension merely extends your filing deadline. You must still pay your estimated taxes on your business’s tax-filing deadline, which is probably either March 15, 2022, or April 18, 2022.

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 deadline:

🗓️ Sole proprietorships, C corporations, and single-owner LLCs must apply for an extension by April 18, 2022, which extends their tax-filing deadline to October 17, 2022.

🗓️ Partnerships and S Corporations must apply by March 15, 2022, which extends their tax-filing deadline to September 15, 2022.

You can have all the money in the world, but it won't buy you integrity or honesty. If your integrity doesn't stand on its own without money, it won't stand with money.

The problem is, integrity and maximizing profits don't always point in the same direction, and the temptation becomes to let go of integrity, just this once. It's a slippery slope.

It's that time again! Tax Season...

We're going to cover some of the basics to help anyone in E-commerce prepare for filing their annual taxes, no matter what situation they're in. Of course, we offer annual tax-filing services here, and we'd love to talk to you, even if you're not sure if you need help.

That said - our first tip is to find out whether you have/need a 1099-K.

A 1099-K form is a sales reporting form issued by Amazon, and similar businesses. It provides the IRS with annual and monthly gross sales information, and includes sales tax and shipping fees.

If you sell on Amazon and you have a minimum of $20k in annual sales and 200 total transactions, Amazon will provide this form for you. Either way, you'll need to make sure you provide Amazon with your tax status under "Tax Information" in Seller Central.

Amazon most likely will email your 1099-K directly to you if you qualify for it, but if you need to locate it, you can find it in the "Tax Document" library of the Reports menu.

You could make a point that luck isn't really part of it at all...🤔

Handling sales tax reporting for an E-commerce store can be a major hassle. Understanding your nexus and knowing where to find the reports can be really daunting, especially as a new seller. But thankfully, we take the hassle out of reporting sales tax with this convenient and affordable service. Visit www.gliddenholt.com to find out more and get started!

That initial boost of motivation will always run out. There will always be days where it just doesn't feel like there's any gas in the tank. But when you build habits of always accomplishing what you can, when you can, you won't always need motivation to keep moving.

As crazy as it is to say this...2021 is really close to being over, and a new year means new taxes to file. We can help!

Whether you use our monthly services or not, we can help you get prepared for your year-end taxes. Even if you're late to file, or whatever your situation, reach out so we can talk through it.

Year-end tax filing starts at $599.99 for an LLC and $799.99 for an S-Corp.

Visit www.gliddenholt.com today to get started!

We all know success doesn't necessarily equal happiness, and yet we all chase it, hoping that it will. That's okay, just make sure you actually want what you end up getting. 😉