Types of business

If you find it hard to keep up with all this tax stuff, this blog should help you figure it all out.

Here is our cheat sheet for the following situations;

1- Paid by 1099-Misc, Paid in Ca$h, D.B.A.
2- Self Employed, Sole Proprietor
3- LLC
4- S Corp or C Corp
5- Partnership

 

 

LLC

If you are a single member LLC or multi-partner LLC, please remember your obligations;

1-April 15th to file return or request extension until Sept 15
2-In California, Your Statement of Information is due by mail every other year on the anniversary date of your formation
(http://www.sos.ca.gov/business…/business-entities/statements).
If you are not in California, please check your state’s website.
3-In Los Angeles County, you need to report gross earnings by Feb 28th to the City of Los Angeles Office of Finance
(finance.lacity.org)
If outside LA County, please check your city’s local website.
4- Pay California $800 by April 15th, your Annual Franchise Fee.

Self Employed, Sole Proprietor, D.B.A., Paid by 1099-Misc, Paid by Cash

1-Your tax returns are due on April 15th to file or request an extension until Oct 15th
2-In Los Angeles County, you need to report gross earnings by Feb 28th to the City of Los Angeles Office of Finance
(finance.lacity.org)
If outside LA County, please check your city’s local website.

S Corp & Partnerships

1- March 15th to file return or request extension until Sept 15
2-In California, Your Statement of Information is due online or by mail every year on the anniversary date of your formation
(http://www.sos.ca.gov/business…/business-entities/statements).
If not in California, please check your state’s website.
3-In Los Angeles County, you need to report gross earnings by Feb 28th to the City of Los Angeles Office of Finance
(finance.lacity.org)
If outside LA County, please check your city’s local website.
4- Pay California $800 by March 15th, your Annual Franchise Fee.

C Corp

1- April 15th to file return or request extension until Sept 15. Used to be March 15th but that has changed now to make it
more confusing.
2-In California, Your Statement of Information is due online or by mail every year on the anniversary date of your formation
(http://www.sos.ca.gov/business…/business-entities/statements).
If not in California, please check your state’s website.
3-In Los Angeles County, you need to report gross earnings by Feb 28th to the City of Los Angeles Office of Finance
(finance.lacity.org)
If outside LA County, please check your city’s local website.
4- Pay California $800 by March 15th, your Annual Franchise Fee.