email : Webview : FMS Pulse - Week 3 Sales Down

Share this:

Week 3 Sales Down

Looking back on the third week of January, independent grocers are reporting another rough week with same store sales down 10.98% compared to the same period in 2016. We have one more week of January to report on to see if sales can even out.

Tomorrow the Bureau of Labor Statistics will release its January unemployment report. Initial estimates are optimistic that the beginning of the year will show an uptick in job creation. The results will be released tomorrow at 8:30AM EST.

2017 Independent Grocers Financial Survey Open

This collaborative effort between FMS and the National Grocers Association is in its twelfth year and has become more important than ever. This survey is the only one of its kind to deliver the type of benchmarking and industry knowledge critical to understanding our landscape.

We understand the value of your time, which is why we offer a free copy to everyone who participates. We hope you’ll become part of this important study.

All the information you submit to us is completely anonymous. No identifying information will be included in the survey or shared with anyone.

Participate in the 2017 Independent Grocers Financial Survey

Alternatively, you can download and print the survey.

Same Store Sales
% Change from last year

Same Store Sales – Previous Months

BGBC Partners, LLP Tax Update: IRS Reminder - Tax Return Due Dates Changed

Back in September 2016, we devoted our Tax Update to the recent changes to certain tax return due dates. Now that we’re closer to filing season, we felt that it would be beneficial to remind you of what those new dates are.

In 2015, Congress passed the short-term highway funding extension which contains several important tax provisions changing many of the tax return due dates and extended tax return due dates. The new due dates will apply to returns for tax years beginning after December 31, 2015. Personal tax returns filed on Form 1040 will not change with the tax return due date remaining April 15th and the extended due date remaining at October 15th. Also, not changing are calendar year S Corporations filed on Form 1120S. The S Corporation tax return due date remains March 15th and the extended due date is September 15th. Also, there were no changes to Form 5500 which is due July 31st and has an extended due date of October 15th.

Here are some of the more notable changes to be aware of

Partnership tax returns (with calendar year end) Form 1065.
Due date – March 15th
Extended due date remains the same at September 15t
Trust and Estate tax returns Form 1041
Due date remains the same at April 15th
Extended due date changed to September 30th
C Corporation tax returns (calendar year) Form 1120 – Before January 1, 2026
Due date – April 15th
Extended due date remains the same at September 15t
C Corporation tax returns (calendar year) Form 1120 – After December 31, 2025
Due date – April 15th
Extended due date – October 15th
C Corporation tax returns (Fiscal Year End – other than December 31st or June 30th) Form 1120
Due date – 15th day of 4th month after year end
Extended due date of 10th month after year en
C Corporation tax returns – (June 30th fiscal year end before January 1, 2026)
Form 1120
Due date –September 15 th
Extended due date – April 15t
C Corporation tax returns – (June 30th fiscal year end after December 31, 2025)
     Form 1120
     Due date –October 15th
     Extended due date – April 15th
Exempt Organizations Form 990
Due date May 15th
Extended due date November 15t
FinCEN – Report 114 Foreign bank and Financial Accounts Report (FBAR)
New due date April 15th
NEW – Allows for extension to October 15t
W-2’s and 1099’s – Forms W-2 and certain 1099-MISC are due to IRS on January 31st. All other Forms 1099 are due February 28th; March 31 if filed electronically

The changes to the C Corporation dates are logical in that now personal tax returns and C Corporations are due on the same date (April 15th) making the returns that may have tax dollars owed and payable with the tax return due at the same time. The good news is that your trusted CPA will keep track of this for you, so make sure you contact him or her!

BGBC Partners, LLP is a full service certified public accounting and business consulting practice.

For more information, contact Brad Bell, CPA or Steve Reed, CPA/ABV/CFF at BGBC Partners, LLP (317-633-4700).

8028 Ritchie Highway | Suite 212 | Pasadena, MD 21122

email marketing by Endeavour Marketing