Can you believe it; the 2007 tax year end is just around the corner! Most new business owners assume their tax returns are due April 15th for their corporate or LLC structure. However, the due date for most all business returns are not the same as that of a personal 1040.

Corporations (“C” and Sub-Chapter “S”) must file IRS form 1120 by March 15, 2008. For LLC’s and Limited and General Partnerships, the due date for IRS form 1065 is April 15, 2008.

A word of caution for those who operate out of an LLC - check with your tax expert to confirm your business tax election. An LLC can be taxed as a partnership, a sole-proprietorship, or as a “C” or “S” Corporation.

If your business operates a qualified retirement such as a 401k Profit Sharing plan, IRS form 5500 may be required. If your plans year end falls on December 31st and if it meets the requirements for filing, the due date is July 31st.

For guidance on tax compliance and assistance with preparation, a Traders Accounting tax professional can ensure that you meet the stringent IRS guidelines.

Corporation and LLC Owners Beware! Scammers are looking for you.

There are many unscrupulous people dreaming of ways to take your money without giving you anything of value in return. One of those scams that may take the unwary by surprise consists of an official looking document being delivered to your corporation or LLC. The document talks about the importance of documentation and sites several state statutes requiring adequate records be kept. The notice then states that you must send an annual fee to the address listed by a specified due date. All in all the notice looks official (view actual notice) and is accurate in regards to the importance of keeping adequate records. However, if you read the fine print the fee is not going to a governmental agency. Instead, it is being paid to a private corporation whose services are completely unnecessary and there is even some question as to what service they are actually selling.

This particular scam has been seen frequently in California but has been seen in many other states as well. This is just one scam in many that can trap the unwary business owner so; you want to be sure to read the fine print before writing any checks.

Trends and Successful Tips for Day Traders

Traders have very different styles as to how and when they make their trades. However, there are trends and patterns that day traders can find helping them become successful at day trading. According to 123 Sensex, they list 20 rules for day traders and explain what day traders should be on the look out for.

At Traders Accounting, we always want to help offer the best advice on tax planning, and with day trading. We will keep you up to date and informed on the best ways day traders can experience the maximum gains on their investments.

Day Trading Advice From The Experts

Traders Accounting introduced their new Tax Action Plan, to help day traders with advice on tax planning from professional tax deduction consultants. Each customized tax action plan outlines strategic planning for all those seeking expert day trading advice. To get started, please visit TradersAccounting.com.

“The best day trading advice we offer is to traders who have implemented a plan prior to tax time of the upcoming year, something so simple can save people time and money,” said Jim Crimmins, President of Traders Accounting. “Our clients look to our tax deduction consultants for the best strategy in tax preparation throughout the year, asking questions and helping with decisions.”

Quick and Easy Resources for Day Traders

Looking for a comprehensive listing of some of the best companies that provide brokerage, education and other services for the active trader? Visit Traders Accounting’s Trader Resources Center.

And if you need a reliable company that provides business products and services to people who trade as a business? Traders Accounting’s Business Resources Center offers an extensive list of businesses just for you.

If you have someone else you think should be included on this page, please contact us. By working together we can continue to provide you with services you need to make managing your small business easy.