OTHER TYPES OF TAXES AND DUE DATES
There are many types of taxes that businesses/entities and individuals besides income taxes and employment taxes. Please learn about the kinds of taxes that you are liable for by education and your tax accountant. You are responsible for knowing the laws and regulations and how to comply with them. Compliance includes caculating and making estimated tax payments when due, and preparing and filing tax returns when due
Most companies and owners do not have the expertise to identify the taxes that they are responsible for. Further, they do not know how to calculate estimated taxes and when to pay them, or how to prepare or file their own tax returns. This is because we specialize in our professions and because tax law is expansive and outside of the understanding of most's experience.
You or your accountant will need to understand your company, industry, and type of owner you are. He/she will then research the types of taxes that you are liable for. Business owners (including not-for-profit managers) are generally way too busy running their operations to become tax experts at any level. It is highly recommended that owners/managers engage a knowledgeable tax accountant and/or firm to advise on what is needed and how to track tax liabilities so that they are paid and reported appropriately.