Iowa Tax Day 2025: Tax Deadlines for Small Business Owners in Iowa
As Tax Day approaches, small business owners in the Des Moines, Iowa area must navigate both federal and state tax obligations to ensure compliance and avoid penalties. At CustomOne CFO & Controllers, we understand the complexities of tax preparation and offer this guide to help you through the process.
Related: Getting Ready for Taxes with Your CPA!
When are Federal taxes due in 2025?
2025 Federal Tax Deadlines
For the 2024 tax year, the Internal Revenue Service (IRS) has set the following deadlines:
- March 17, 2025: Partnerships and S corporations must file their 2024 federal tax returns (Forms 1065 and 1120-S, respectively) by this date. If additional time is needed, filing Form 7004 grants a six-month extension, moving the deadline to September 15, 2025.
- April 15, 2025: C corporations and sole proprietors are required to file their 2024 federal tax returns (Forms 1120 and 1040 with Schedule C, respectively) by this date. An extension can be requested using Form 7004 for C corporations and Form 4868 for sole proprietors, extending the deadline to October 15, 2025.
When are Iowa taxes due in 2025?
2025 Iowa State Tax Deadlines
In Iowa, the tax deadlines differ slightly from federal dates:
- April 30, 2025: Individual income tax returns, including those for sole proprietors, are due. This deadline also applies to pass-through entities such as partnerships and S corporations.
- Estimated Tax Payments: Quarterly estimated tax payments for individuals are due on April 30, June 30, September 30, 2025, and January 31, 2026.
Key Considerations for Small Business Owners
- Accurate Record-Keeping: Maintain detailed financial records throughout the year to streamline the tax preparation process and ensure all deductions and credits are accurately claimed.
- Understand Filing Frequencies: Iowa determines sales and use tax filing frequencies based on the amount of tax collected annually. Businesses collecting less than $1,200 per year file annually, while those collecting more must file monthly.
- Payroll Tax Obligations: Ensure timely filing of payroll taxes, including federal and state withholding, Social Security, and Medicare taxes.
- Seek Professional Assistance: Tax regulations can be complex and subject to change. Consulting with accounting professionals can help ensure compliance and optimize your tax strategy.
How CustomOne CFO & Controllers Can Assist
At CustomOne CFO & Controllers, we specialize in providing outsourced accounting and financial consulting services tailored to the needs of small and medium-sized businesses in the Des Moines area. Our services include:
- Bookkeeping: Accurate and timely financial record maintenance.
- Financial Analysis: Strategic financial guidance to support business growth.
- Cash Flow Management: Optimizing liquidity and financial stability.
- Technical Consultation: Expert advice on taxation, insurance, and banking matters.
Our team comprises experienced CFOs, CPAs, and accountants dedicated to supporting the success of entrepreneurs and family businesses in Des Moines.
Navigating tax obligations requires careful planning and attention to detail. By staying informed of deadlines and leveraging professional expertise, you can ensure compliance and focus on growing your business. CustomOne CFO & Controllers is here to support you through every step of the process.
