Personal tax & Corporation tax?
Posted on January 13, 2009 by admin
Joy asked:
The fiscal year of the corporation is 3/1, I was told the corporation tax due 5/15. can I file my personal tax by 4/15 or I have to wait after the corporation tax is done? thanks.
How about the profit of the corporation? Does it have anything to do with the my personal tax? thank you.
The fiscal year of the corporation is 3/1, I was told the corporation tax due 5/15. can I file my personal tax by 4/15 or I have to wait after the corporation tax is done? thanks.
How about the profit of the corporation? Does it have anything to do with the my personal tax? thank you.
Your personal return is due by 4/15. The due date of the corporate return has nothing to do with your personal return.
If you’re referring to the profits from an S-Corp, since the fiscal year ends after 12/31/2007 those are distributed to the shareholders during CY2008 so they go on their 2008 Individual Income Tax Returns. The amounts from the S-Corp that you include on your 2007 returns are from the S-Corp’s FY2007 return which closed out on 2/28/2007.