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5 Things Every Business Owner Should Know About Tax Filing with Victoria Watson

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Victoria Watson is the founder of VW Tax & Accounting Services located in Lisle, IL. She began her career with the Internal Revenue Service as a taxpayer advocate helping individuals and businesses resolve complex tax issues. After departing from the IRS in 2016, Victoria took her passion for taxes and tax law and started her own accounting firm which specializes in individual and business tax preparation, tax resolution, payroll processing, and small business planning. Professionally, she enjoys the challenge of identifying and solving problems and keeps abreast of the ever-changing tax law to ensure that she provides premier accounting services to each individual and unique client. Victoria’s motto is “Committed to Solutions from Start to Finish.”

Victoria is a United States Navy Veteran having served 3.5 years on active duty. She holds a Bachelor of Science in Business, with a concentration in Accounting, from the University of Phoenix. Victoria is currently pursuing a Masters in Taxation from DePaul University.

5 Things Every Business Owner Should Know About Tax Filing

  • You do not need to be registered with your state as a business to claim business income or take business expenses on your individual tax return
  • Creation of the Employer Identification Number determines your filing requirement with the IRS
  • If you become a registered business with your state you are required to file an annual report 
  • In some cases the business tax return must be filed before your personal tax return
  • The due dates for some business returns are different than your personal tax return

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