How to File Business Taxes
Learn how to file business taxes with our detailed step-by-step guide. Follow our easy instructions to get it done right.
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0 of 6 steps completedStep-by-Step Instructions
1 Step 1: Organize Financial Records
Step 1: Organize Financial Records
Gather income statements, expense receipts, bank statements, and previous tax returns.
Small Business Tax Guide
Comprehensive guide to business tax filing
Receipt Organizer
Accordion file for organizing tax documents
2 Step 2: Determine Business Structure Tax Requirements
Step 2: Determine Business Structure Tax Requirements
Different forms for sole proprietor (Schedule C), LLC, S-Corp, or C-Corp.
3 Step 3: Calculate Business Income and Expenses
Step 3: Calculate Business Income and Expenses
Total all revenue and deductible expenses including home office, equipment, supplies, travel.
QuickBooks Self-Employed
Software for tracking business finances and taxes
Tax Deduction Checklist
Comprehensive list of business deductions
4 Step 4: Complete Appropriate Tax Forms
Step 4: Complete Appropriate Tax Forms
File Schedule C, 1120, 1120S, or 1065 depending on structure, plus quarterly estimated taxes.
TurboTax Self-Employed
Tax software for business owners
5 Step 5: Calculate Self-Employment Tax
Step 5: Calculate Self-Employment Tax
Sole proprietors and partners pay 15.3% SE tax on net earnings in addition to income tax.
6 Step 6: File or Hire CPA
Step 6: File or Hire CPA
Submit returns by deadline (March 15 or April 15 depending on structure) or hire accountant.
CPA Tax Preparation
Professional tax preparation for small business
Tax Extension Filing
Service to file extension if needed