Categories: Business Basics

Filing Deadlines

Deadlines are definitely a necessary evil – no one likes to feel the pressure of a deadline on their back but without them, we would procrastinate. And procrastinate. And procrastinate. This week on our ABC’s for small business blogging segment, F is for filing, and meeting, deadlines.

We need a bit of a push if we ever expect to get anything done. And, for many, that “deadline” is the end of the year. It’s a simple enough deadline, and gives you 364 days of wiggle-room. We hear from a lot of people that say they want to start a business by the end of the year. They have an idea, they have a plan, and they just need to actually get that paperwork filed and their business opened. So they put it off, month after month, because they gave themselves until the end of the year.

And here we are, in October. Two months until the end. And you may be asking yourself, “Is it worth spending the time to file what I need to file for just two months of business?”

Probably not.

Opening up your business two months before the end of the year will give you two more months of sales and growth, but with them comes end of the year taxes and filing fees. It may not be worth the headache, and hit to your wallet, to get going so late in the year.

So, around this time, we typically recommend that new businesses owners look at the ‘delayed filing’ option when sending in their paperwork to the state. You can still get your business paperwork filed before the end of the year, just like you wanted, but the state will hold off on recognizing your business until January. You get two more months to prepare to open, have a set date for recognition, and can still keep that promise you made to yourself to get your paperwork in by the end of the year.

Also, if deadlines are something that you’re consistently worried about, you should consider checking out our new service, the MyCorp Vault when sending in your business filings. With it you can keep track of everything you need to keep your business in good standing with the state, and know when a deadline is approaching.

After all, preparation is key when it comes to deadlines, and staying on top of your paperwork is a great way to avoid scrambling around when deadlines loom.

Deborah Sweeney

Deborah Sweeney is an advocate for protecting personal and business assets for business owners and entrepreneurs. With extensive experience in the field of corporate and intellectual property law, Deborah provides insightful commentary on the benefits of incorporation and trademark registration. Education: Deborah received her Juris Doctor and Master of Business Administration degrees from Pepperdine University, and has served as an adjunct professor at the University of West Los Angeles and San Fernando School of Law in corporate and intellectual property law. Experience: After becoming a partner at LA-based law firm, Michel & Robinson, she became an in-house attorney for MyCorporation, formerly a division in Intuit. She took the company private in 2009 and after 10 years of entrepreneurship sold the company to Deluxe Corporation. Deborah is also well-recognized for her written work online as a contributing writer with some of the top business and entrepreneurial blogging sites including Forbes, Business Insider, SCORE, and Fox Business, among others. Fun facts/Other pursuits: Originally from Southern California, Deborah enjoys spending time with her husband and two sons, Benjamin and Christopher, and practicing Pilates. Deborah believes in the importance of family and credits the entrepreneurial business model for giving her the flexibility to enjoy both a career and motherhood. Deborah, and MyCorporation, have previously been honored by the San Fernando Valley Business Journal’s List of the Valley’s Largest Women-Owned Businesses in 2012. MyCorporation received the Stevie Award for Best Women-Owned Business in 2011.