When it comes to taxes, business owners have a lot on their plates. Last week, we tackled the ins and outs of business taxes—big deadlines, no chaos. This week? We’re flipping the script and focusing on you and your personal taxes.
Here’s everything you need to know, broken down in the simplest way possible.
The Tax Filing Sequence (aka the “Save-Your-Sanity” Plan)
Think of tax season like a well-organized movie production. There’s a specific order to follow, and skipping steps can turn your blockbuster into a disaster.
1. Business Tax Returns Go First
Your business is its own legal entity. Before you can even think about your personal taxes, your business has to file first. This means crunching the numbers—income, expenses, profits, and all that fun stuff the IRS wants to know about.
2. Issue Tax Forms
Once the business filing is wrapped up, it’s time to hand out the supporting cast documents:
- W-2s for employees (due by January 31)
- 1099s for contractors (due by January 31)
- K-1s for partners and shareholders (due by March 15)
These forms tell everyone (and the IRS) how much money the business distributed.
3. Then, It’s Personal
After you’ve got those forms in hand, you can finally file your personal tax return. Think of your business as the star of the show and your personal taxes as the post-credit scene—it only makes sense after the main event.
Important Update for Disaster-Affected Areas
Here’s some good news for anyone impacted by recent disasters, like the fires in LA County: The IRS has extended your deadlines.
If you’re in an affected area, you now have until October 15, 2025 to file your tax returns and make payments—business and personal.
This extension is a huge relief for those dealing with disaster recovery. If you think you qualify, let us know. We’ll help you confirm eligibility and make sure you stay on track.
Why This Matters
As a business owner, your personal tax return often depends on your business’s numbers. If you delay your business filing, your personal taxes are stuck in limbo—and that’s a one-way ticket to Stress City.
By following this sequence, you’ll avoid headaches, penalties, and any unwelcome surprises from the IRS. And who doesn’t want that?
Ready to Wrap It Up?
Taxes don’t have to feel like pulling teeth. Let’s handle your business and personal filings now so you can breathe easy. The sooner we get started, the sooner you can get back to what matters—like planning your next big goals or that vacation you’ve been dreaming about.
👉 Click Here to Schedule Your Consultation
Taxes can be simple, stress-free, and even a little boring in the best way. Let us prove it.
Cheers,
The Solution 8020 Team