It’s officially tax season here in the U.S. and here are some important tax deadlines for 2024. In addition, the IRS will officially start accepting 2023 e-filings on January 29, 2024. It’s not too soon to schedule your in-person or virtual tax appointment for your 2023 tax year preparation! Contact us with any questions, to review our virtual tax process and with requests for 2023 tax organizers.

The City of L.A., Office of Finance, Annual Business Registration is due by February 29^th, 2024. You may be penalized for non-compliance, even though you would have otherwise been eligible for an exemption. You must comply with the City of Los Angeles, Office of Finance annual Business Registration by 02/29/24 if you are doing business in Los Angeles as an independent contractor, self-employed, freelancer, sole proprietor, small business owner, partnership, fictitious business name (dba), loan-out co., LLC, or S-Corp. You may qualify for a small business exemption from city taxes if you generated up to $100,000 of 2023 gross income or up to $300,000 as a creative artist. However, these exemptions are only valid with timely filings.  You may be penalized by the city for non-compliance, even though you would have otherwise been eligible for an exemption.

Because the filing deadline falls before most of our clients’ income tax filing appointments, it is your responsibility to comply with the registration but call us if you need help complying.  Visit our website, www.taxplus.com under the Resources tab where you will find several links to City of Los Angeles, Office of Finance, including Tax Education, Is Your Business in the City of Los Angeles, Is Your Business Registered, Online Registration and Online Business Tax Renewal.

City of San Diego Business Tax

The City of San Diego issues a “Business Tax Certificate” instead of a business license. To obtain a certificate, you must apply for a Business Tax Certificate via online, in person, or by mail. Per sandiego.gov, it takes up to two weeks to receive a receipt of your business tax certificate.

To apply and keep your certificate active, there is an annual fee due to the city of San Diego, which is based on the number of employees your business has. For businesses with 12 or fewer employees, the annual rate is $34.00 (with an additional $4 state-mandated fee), and businesses with 13 or more employees have an annual rate of $125.00 plus $5.00 per employee.

The city tax application must be submitted within 15 days of the business start date. Businesses that fail to pay within this time frame are subject to a late fee of $25.00 or 10% of the amount owed, whichever is greater. Some surcharges apply for businesses that are found operating in the City of San Diego but have not paid the Business Tax.

• If you have any questions: please refer to the FAQ’s on the city website:
  • https://www.sandiego.gov/treasurer/taxesfees/btax/btaxfaq
• To apply OR renew your City of San Diego Business Tax Certificate, please click on the following link:
  • https://www.sandiego.gov/treasurer/taxesfees/btax/btaxhow

Save These Important 2024 Tax Deadlines

Send 2023 1099 Forms to Independent Contractors by January 31^st, 2024.

•  Issue 1099s by 01/31/24 if you have paid any independent contractor $600 or more during 2023.
• There is no requirement to issue Form 1099 to corporations.
• Please contact Roxana@taxplus.com or call 310.398.3231 for help with 1099s.

The City of L.A., Office of Finance, Business Registration is due by February 29^th, 2024.
You must comply with the City of Los Angeles, Office of Finance annual Business Registration by 02/29/24 if you are doing business in Los Angeles as an independent contractor, self-employed, freelancer, sole proprietor, small business owner, partnership, fictitious business name (dba), loan-out co., LLC, Corporation or S-Corp.

S Corporation and Partnership Filing Deadline is March 15^th, 2024.
S corporation (Form 1120S) and partnership (Form 1065) tax returns for entities who use the calendar tax year are due March 15^th.   The extension to file gives you 6 months extra time to file until the September 15^th deadline.  Please reach out to us now to request an extension to file your S-Corp. filings by September 15^th.

Individual Tax Returns, Single Member LLCs, Corporations due April 15^th,2024. 

Individual (1040) tax returns and payments are due April 15^th.  Single Member LLCs (Form 568) not owned by a pass-through entity are due April 15^th.  C corporation (1120) tax returns are due April 15^th.  Please reach out to us now to request an extension to file by October 15^th.