Happy New Year!

With the new year here, that also means tax season is here. Let's make sure all your paperwork is in on time to beat the “rush” that comes when the deadlines approach.

Here's a run-down of all the deadlines you need to be aware of. All of them might not apply to you, but make sure you read through the whole email to ensure your bases are covered!

1) Estimated taxes are due January 17th

It's quarterly tax time again! If you're a small business owner, you may be required to pay estimated taxes every quarter.

2) 1099s due January 31st

You are required to send Form 1099 to vendors or sub-contractors during the normal course of business you paid more than $600 for services, and that includes any individual, partnership, Limited Liability Company (LLC), Limited Partnership (LP), or Estate.

3) W-2s & Form 940 (FUTA) due January 31st

You're legally responsible for distributing paper copies of W-2s, unless your employees have given consent to receive them electronically before January 31st. Form 940 (FUTA) annual tax return is due also by January 31st.

4) Partnerships and S Corps

Wednesday, March 15, 2023 is the deadline for all Partnerships (Form 1065) and S Corps (Form 1120S). Remember these are “information returns” with no tax due, BUT you can't file your personal 1040 return until you get your K-1 from these business returns.

5) Individuals (Sole Proprietors) and C Corps

Monday, April 17, 2023 for individuals (Form 1040) and C Corps (Form 1120).

And that about wraps up the filing requirements for any small business during tax season.

If you are a current monthly bookkeeping client, please note that these services are NOT included in your regular monthly fee. Only our CFO clients have this service included.

If you would like us to prepare any of the returns above, please contact us ASAP so we can get you on the schedule and let you know what information we need.

If you have any questions, please don't hesitate to reach out. That's what I'm here for!

My Courses and Services

My Favorite Resources 

**My emails sometimes include affiliate links. You can read my full boring disclosure and privacy policy here.

  • Gusto Payroll – This is the payroll service I use for my clients. If you want to setup and run payroll yourself, sign up through this link and receive a $100 VISA Gift card after you run your first payroll. They also offer human resource and insurance options for small business owners as well.
  • QuickBooks Online – This is the accounting software I use for bookkeeping for all my clients. It's very easy to setup and learn for new business owners. Use my link and you will receive 30% off QuickBooks for 3 months!
  • Legal Templates – Simple DIY legal templates for All entrepreneurs