How to Properly Submit a Business Entity Filing for 2020
Whether you are just establishing your business or running a business that has been around for generations, there are certain entity filings that must be made on the state and federal levels. The type of filings your business will need to make will depend on whether or not it is a new business and what type of business you are running. For instance, corporations are required to make annual filings with the Secretary of State. There are variations in filing requirements depending on whether you are running a corporation, LLC, sole proprietorship, partnership, etc. It is great to stay on top of your game and submit your client’s entity filings in 2019 even though they won’t be filed until 2020. However, you just have to make sure each filing is 2020 compliant since that is the year in which they will be filed.
Make Sure Entity Filings are Compliant for 2020
First, make sure you have a thorough understanding of what filings your clients’ businesses are required to submit and when each is due. Failure to submit mandatory filings on time can result in unwanted and unnecessary penalties and fines.
Secondly, Make sure any downloaded forms are either made for the 2020 year or are approved for 2020 filings. Lastly, do research on each type of filing to make sure rules, regulations, and requirements have not changed from the previous year. If any changes have been made, be sure to make note of the new requirements and adhere to them.
Lastly, if it isn’t already clear when submitting the filing, make a note that the filing is for the 2020 year. Failure to comply with 2020 requirements means you will have to redo and submit the filings for your clients, which can result in delays and fines. This leads to frustrated business owners.
Simplify the Management of Your Clients Business Entities
Managing business entities is a tedious necessity in business ownership. Filejet is an innovative yet easy to use business management platform that takes the hassle out of business entity filings and business management. Increase profits by easily completing the business entity filing process on our software without the need to use expensive outsourcing. Contact us today and let us show you how business entity filing can be a breeze!