Real Estate Investing Tactics

Don't miss this important deadline.

If you have an entity like a corporation, LLC or LLP you must either file your 1120 return by midnight tonight or file a request for an extension.

If you  have an entity and file for the extension then your return will be due on Tuesday September 15, 2009. If you also file a personal extension next month, you will be able to apply for an additional extension in August on your personal return because you are waiting on your K-1's from your entities.

That means your personal return will not be due until Thursday October 15, 2009.

There are many who believe a later filing reduces your chances of an audit.

However, remember, these are extensions to file your returns not to pay the taxes. You still must pay any amounts your entity will owe today, and any additional amounts you owe on your personal return by the 15th of next month.