As we move further into the fourth quarter, small business owners everywhere begin to breathe a sigh of relief as their most pressing tax deadlines fade into the distance.
Below are the few upcoming small business tax deadlines for November that may affect your company.
- November 13 - If you made timely payments of your payroll taxes, you get a 10-day grace period and can file your form 941 for the third quarter by this date.
- November 13 - Employees who earned tips of $20 or more in October must report those tips to their employer by this date.
- November 15 - If you pay your payroll taxes monthly, you must deposit October's payroll tax by this date. For semi-weekly payers, check the IRS tax calendar for the specific due dates.
- November 30 - If your business accepts bets, you must file form 730 and pay taxes on wagers accepted in October by this date.
- November 30 - Businesses in the trucking industry must file form 2290 and pay tax for vehicles first placed in service during October.
- State Taxes - Check your state's taxation website for the monthly state tax deadlines that may apply to your business.
Regarding tax deadlines, the worst is behind you for this year. But before you rest on the laurels of another successful year, ask yourself, "What can we do differently to make next year more profitable?" Believe it or not, the answer to that question lies within your financial reports. The trick is to know where to look and what questions to ask to find it.