S-Corp & Partnership Tax Deadlines Are Coming — Don’t Screw This Up
Author: Greg
March 11, 2025
This might be the most boring post we publish all year.
But if you ignore it, it might also be the most expensive mistake you make in 2025.
So buckle up, business owner. It’s tax season. And if your company’s structured as an S-Corp or partnership, the IRS is staring at you like a hungry pitbull.
🧾 What’s the Deal with March 15?
If you run an S-Corporation or a partnership, your federal tax return is due March 15, 2025.
Yes, earlier than the usual April 15 deadline—and no, your accountant is not a psychic.
Here’s what you need to file:
- Form 1120S for S-Corps
- Form 1065 for Partnerships
Even though these are pass-through entities (meaning the income flows to your personal return), you still have to file a separate return for the business. And yes—the IRS absolutely penalizes you if you’re late.
👉 Assume nothing. Ask your CPA. Confirm they’re on it. Then follow up again.
🕒 File or Extend—But Don’t Freeze
If you’re not ready by March 15, don’t just ghost the IRS.
File Form 7004 to request an extension, which gives you until September 15 to get your paperwork together.
⚠️ Key Detail:
An extension to file is not an extension to pay.
You still have to estimate your taxes and pay them now—or you’ll be handing Uncle Sam interest and penalties like a tip.
CPA Pro Tip: Pay now, file later. It’s way cheaper.
💡 Should You Even Be an S-Corp?
Here’s where it gets interesting.
If you’re still a sole prop or single-member LLC, ask yourself:
“Am I leaving money on the table?”
You might be if:
- You’re clearing $40K–$60K+ in net income
- You’re sick of getting crushed by self-employment tax
- You’re ready to run payroll and stack your retirement like a boss
Greg’s done this play multiple times. Once an LLC starts making decent money, flipping to an S-Corp becomes a smart move—not just for taxes, but for structure, legitimacy, and long-term growth.
👥 Partnership vs. S-Corp — Know the Difference
Partnerships:
- Flexible profit splits
- Easy to start
- Ideal for joint ventures and early-stage teams
S-Corps:
- Cleaner ownership structure
- W-2 salary setup
- Stronger for long-term planning and exit strategies
If you’re bringing on a business partner, talk entity structure now—not after the IRS finds out you’re winging it.
📈 Why This Stuff Actually Matters
Let’s be real.
Reading about IRS forms isn’t your idea of a good time.
But if you’re serious about building wealth, recruiting talent, and creating something that lasts, then you’ve gotta act like it.
Structure = Strategy
Deadlines = Discipline
Entity = Elevation
You can’t build a high-earning business on low-level habits.
✅ Action Plan (Because You’re a Pro)
1. Confirm your structure.
Are you optimized—or overdue for a shift?
2. Double-check the March 15 deadline.
File or extend, but don’t ignore it.
3. Talk to your CPA
if you haven’t already. (Seriously—do it this week.)
This isn’t tax advice. It’s real-world common sense for anyone trying to win long-term.
If you’re gonna grind for your business, don’t let the IRS punk you because you missed a form.
Be smarter than that. Be sharper than that.
Be Boom-level professional.
-Greg
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