Accounting Corner: April

The best way to ensure success on and off the court is to plan for the unexpected. In business, this is simply called budgeting and forecasting. By utilizing historical data and being aware of current pressures, business owners can plan for success. The first quarter of a fiscal year is very critical to ensuring the business meets its goals by year end. If you have been diligent and paid attention to monthly financial and operational performance measures, then you are likely to have success at the end of the year. Reviewing your performance after each quarter helps you to be proactive throughout their year. The first quarter of 2014 has ended and you have the opportunity to change the game. Many of the first round basketball teams wished they had started the game strong and made adjustments early on in the game. Stay proactive and do not wait until the fourth quarter to try to win the business game.

IMPORTANT TAX DEADLINES

  • April 1 Annual Report due
  • April 15 1040 (Schedule C) US Individual Income Tax return and 1065 US Return of Partnership Income
  • April 15 Tennessee Franchise and Excise Tax
  • April 15 1st Period Estimated Tax Payments
  • April 30 941 Employer’s Quarterly Federal Tax Return
  • April 30 Tennessee Department of Labor Wage and Premium Report

Dimeta Smith has extensive accounting, auditing and consulting experience. Previous roles include Internal Auditor, Financial Systems Implementation Consultant and Chief Financial Officer. She has consulted with small to large size corporations, sole proprietorship and partnerships from various industries within for profit and nonprofit sectors.

Dimeta Smith, CPA provides outstanding service to clients because of dedication to three underlying principles; professionalism, integrity and quality. To learn how Dimeta Smith can help your small business, visit http://www.dimetasmithcpa.com.