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July 3, 2014

Keeping Financial Information Secure When Filing Corporate Tax Returns

For most people, the stresses and worries of tax season end in April on the annual deadline for income tax return filings. However small-business owners, entrepreneurs, and franchisees may not be quite off the hook as another corporate tax return deadline follows shortly after in June. Here’s some helpful hints on how to be prepared for the common tax deadlines for business owners while keeping your personal and financial information safe and secure.

Income Tax Returns

The income tax filing deadline is the most well-known as it applies to most people living and working here in the U.S. Due April 15th of each year, these individual and partnership tax returns marks the due date of the first installment of payments.

Corporation Income Tax Return

The corporation income tax return reports on the gains, losses, credits, and other tax liabilities of essentially all domestic corporations. This includes limited liability companies (LLC), S-corporations, and other various forms of business entities. For those that have filed on April 15th, the second installment of tax payments is scheduled for June 16th – three months following the April deadline. Corporate Income Tax Returns require Form 1120, which can be found online at IRS.gov or at your local IRS office. Franchise owners may benefit from talking with their regional manager or brand office as to the specific tax filings that may be required of them according to respective state laws.

Financial Information Security

Accounting for the variety of business transactions that have occurred over the course of the year requires an extensive amount of paperwork and processing. When gathering and collecting all these documents it is important to remember the importance of business document shredding in order to keep sensitive and confidential business information safe and secure. Tax season is the perfect time to schedule a business document shredding service as it is likely that all of the most important documents have been identified and organized during the process of filing.

Stay on top of your business finances by keeping track of the due dates and filing deadlines of important tax documents and payment installations throughout the year. Then, make sure to safely and securely dispose of unnecessary or outdated paperwork that can contain important financial data by using a business document shredding service. Local professionals in your area like PROSHRED® can help you schedule the perfect time to come right to your office for on-the-spot business document shredding or help you find a drop-off location convenient for you and your schedule. Take charge of your finances and your professional security with business document shredding from ProShred.

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