The IRS and the state of CA have started accepting 2021 e-filings. It’s not too soon to schedule your in-person or virtual tax appointment for your 2021 tax year preparation!  Contact us with any questions, to review our virtual tax process and with requests for 2021 tax organizers. Contact Brenda@taxplus.com or call 310.398.3231.  San Diego clients contact Rita@taxplus.com or call 858.279.1640. 

Send 2021 1099 Forms to Independent Contractors by January 31^st, 2022.

Issue 1099s by 01/31/22 if you have paid any independent contractor $600 or more during 2021.  There is no requirement to issue Form 1099 to corporations. Please contact Katheryn@taxplus.com or call 310.398.3231 for help with 1099s.

The City of L.A., Office of Finance, Business Registration is due by February 28^th, 2022.

You must comply with the City of Los Angeles, Office of Finance annual Business Registration by 02/28/22 if you are doing business in Los Angeles as an independent contractor, self-employed, freelancer, sole proprietor, small business owner, partnership, fictitious business name (dba), loan-out co., LLC, or S-Corp.  This includes self-employment or business operation with zero income, claiming business expenses.

If you file timely you may qualify for the Small Business Tax Exemption for businesses with total gross income under $100,000, or the Creative Artist exemption for total gross income under $300,000 – but ONLY if you file before February 28, 2020!  For other possible industry exemption amounts, please visit the City of Los Angeles, Office of Finance website:  https://finance.lacity.org/ or call 844.663.4411. Visit our website https://www.taxplus.com/resources/ for various useful City of Los Angeles links, including links to determine if you are within the city limits, business tax calculators, online registration and online business tax renewal.

If you do not register for the 2021 calendar year operation by the deadline you will pay taxes, interest and possibly penalties even if you were otherwise eligible for an exemption!

There are no Extensions:  YOU MUST COMPLY with Business Registration by February 28, 2020!

For our San Diego clients, please call the City of San Diego at 619.615.1500 or visit their website for registration instructions at: https://www.sandiego.gov/treasurer/taxesfees/btax/btaxhow

S Corporation and Partnership Filing Deadline is March 15^th, 2022.

S corporation (Form 1120S) and partnership (Form 1065) tax returns for entities who use the calendar tax year are due March 15^th.   The extension to file gives you 6 months extra time to file until the September 15^th deadline.  Please reach out to us now to request an extension to file your S-Corp. filings by September 15^th.

Note: 2022 S-Corp., LLC taxed as S-Corp. minimum franchise tax ($800) is due March 15^th,2022.

Individual Tax Returns, Single Member LLC, Corporations due April 18^th,2022.

Individual (1040) tax returns and payments are due April 18^th.  Single Member LLCs (Form 568) not owned by a pass-through entity are due April 18th.  C corporation (1120) tax returns are due April 18^th. 

Please reach out to us now to request an extension to file by October 15^th. Remember that it is an extension to file and not an extension to pay.  If you are going on extension, you should make an estimated payment by April 18^th to avoid penalties.  We can help you calculate the amounts of estimated payments to make.

We are working in person and by phone or video conference with great results!  Call for an in-person meeting. Call or e-mail to review our virtual tax process and we’ll minimize your taxes remotely. 

Please contact Brenda@taxplus.com or call 310.398.3231 to request a phone or video conference with one of our Enrolled Agents.  Contact Rita@taxplus.com  or call 858.279.1640 for our San Diego office.

We look forward to working remotely or in-person with you!

TaxPlus Team