By Karlene Sinclair-Robinson
It’s April 15th. The deadline for filing your annual tax return is here.
Did you meet the IRS tax deadline? Did you have your documents in order? If needed, did you seek professional counseling? Do you need an extension? Did you review the ‘Small Business Tax Guide’? Have you visited the IRS’ website lately? So many questions to consider.
Though I am not a CPA or tax advisor, as a business financing source tax documents are often required when borrowers seek funding. Tax returns are always a necessary part of the financing due diligence process. Current tax returns is important as they play a vital role in lenders’ decision to fund or not to do so.
Don’t make the mistake in thinking you can bypass this requirement. It can also have a devastating effect on your business including having a tax debt or tax lien. This can and will impede your ability to access to much needed capital.
Doing your taxes is a part of doing business. Get it done today.
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