How Do I Prepare My Small Business for Tax Season?
For calendar-year companies: close and reconcile the year's books, gather the documents your tax preparer needs, send W-2s and 1099-NECs by January 31, and calendar every deadline. S corporation and partnership returns are due March 15, C corporation and individual returns April 15, and the Texas franchise tax report May 15. Start in the fourth quarter, while there is still time to act on the number.
What should I do first to get ready for tax season?
Close and reconcile the year's books first, because every number on the return comes from them:
- Reconcile every bank, card and loan account to its December statement.
- Categorize every transaction and clear anything left uncategorized.
- Bring payables and receivables up to date.
- Separate personal and business spending, and record owner draws and contributions.
- Match payroll in the books to your payroll reports.
- Close December and lock the year.
If the books are months behind, catch up first: see How Much Does Catch-Up Bookkeeping Cost? The monthly routine is in The Month-End Close Checklist.
What documents do I need for small business taxes?
Most small business returns start from the same core documents. Put them in one folder for your tax preparer:
- Year-end profit and loss and balance sheet, from reconciled books.
- December bank, card and loan statements.
- Payroll reports, W-2s and year-end payroll tax summaries.
- W-9s and payment totals for every contractor who needs a 1099.
- Records of equipment, vehicles or other assets bought or sold.
- Sales-tax filings, if you collect sales tax.
- Last year's return and this year's estimated payments.
- Any change in owners or ownership percentages.
Your preparer may ask for more, depending on your entity.
When are small business taxes due?
For calendar-year companies, the key dates are:
| Date | What is due |
|---|---|
| January 31 | W-2s to employees and the Social Security Administration, and 1099-NEC forms to contractors and the IRS |
| March 15 | S corporation (Form 1120-S) and partnership (Form 1065) returns, or an extension to September 15 |
| April 15 | C corporation (Form 1120) and individual returns, including Schedule C, or an extension to October 15 |
| May 15 | Texas franchise tax report to the Comptroller. Know before May whether you crossed the threshold. |
| Every quarter | Estimated tax payments |
If a due date falls on a weekend or legal holiday, it moves to the next business day. This guide is general information, not tax advice.
How do estimated tax payments work?
Estimated tax payments are made quarter by quarter, not all at once when you file. Income from a sole proprietorship, partnership or S corporation flows to the owner's personal return, so the owner usually makes the payments; C corporations make their own. Calculate each one from current books, not last year's number. Underpaying during the year can bring a penalty even if you pay in full when you file.
Does an extension give me more time to pay?
No. An extension gives you more time to file, not more time to pay. Tax owed is still due by the original deadline, and interest and penalties can apply to anything paid late. If you extend, estimate what you owe from your books and pay it by the original date.
How does Korven help with tax season?
Korven keeps your books tax-ready all year, so tax season starts from reconciled numbers instead of a rebuild. Korven prepares your books and tax file; our licensed CPA partner prepares, signs and files your return. Before the return, we handle the year-end close, reconciliations, 1099s, sales-tax filings and quarterly estimates.
| Return | Price |
|---|---|
| Schedule C with Form 1040 | From $250 |
| Partnership, Form 1065 | From $650 |
| S corporation, Form 1120-S | From $700 |
| C corporation, Form 1120 | From $800 |
Each price includes one state return and, for partnerships and S corporations, two K-1s. Prices assume tax-ready books and are as of October 2026.
CPA-prepared S corporation returns often cost $800 to $2,500 elsewhere. See Business Tax Preparation, Without the April Scramble and How Much Does Business Tax Preparation Cost?
What else do people ask about tax season?
When should I start preparing for tax season?+
What if my books are not ready for tax season?+
When are 1099s due?+
Does my business need to file a Texas franchise tax report?+
Who prepares and files my return at Korven?+
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