As seen in the Business News Daily, Gunster shareholder Danny Glassman was quoted in an article about filing a tax extension. He expresses that a tax extension is not an opportunity to delay payment to the government but to give people more time to get their paperwork in order. Glassman provides best practices for the process of filing including:
- Gather your overall income and expenses to accurately estimate what your tax liability is.
- Ensure you are aware of the specific deadline for your business type.
- Follow up with the IRS if you do not get a response within three to four weeks.
- Confirm you have the proper paperwork submitted to the IRS before April 15
- Do not wait to request if you know you will need more time.
He ends his discussion by urging businesses to follow the proper procedure to ensure a successful tax extension.
Glassman advises clients in all areas of personal and business tax planning. He works with individuals and businesses to create the most tax efficient structure for his clients in order to achieve the desired outcome.
Read the full article: How to File a Tax Extension for Your Small Business