More Tax Tips From The NASE

It’s once again getting to be that time of year when high blood pressure medication should probably be handed out on street corners.  Small business owners who haven’t done their taxes don’t need to get anxious just yet, though, as the National Association for the Self-Employed has plenty of advice regarding how to take care of things.

Keith Hall, the NASE’s National Tax Advisor, pointed out that some individuals might not even have to stick to the standard deadline.  He said in a statement, "If you file your business return with your personal return, you may be able to get an automatic 6-month extension by completing Form 4868 by April 15."

In this case, just be sure to pay the government whatever you think you’ll owe, since the extension doesn’t apply to payments.

Then here are the other tips.  Whatever else you do, proofread the forms.  Once everything’s taken care of, consider thinking about next year, too, to do yourself a favor then.

Also, while still working on your taxes, check for hidden deductions and take retirement savings into account unless you’re in an extraordinary rush.  And finally, remember that the NASE and IRS have established help centers.