The fourth quarter is coming to a close and before you know it, you’ll be toasting the new year and making your business resolutions for 2018. But before you bid farewell to the “auld lang syne” of 2017, you should ensure you’re prepared for the upcoming small business tax deadlines.
- January 2 – Businesses that file form 730 or form 2290 must do so and pay applicable taxes for November by this date. For taxable activities in December, they must file by January 31.
- January 10 – Employees need to report to their employers any tips of $20 or more earned in December 2017.
- January 16 – Individuals and sole proprietors must pay the final installment of their 2017 estimated taxes due (unless they file their 2017 return by January 31 and pay all of the 2017 taxes due at that time).
- January 16 – If you pay your payroll taxes monthly, you must pay the amount due for December, 2017 by this date. (Semiweekly payers can check the IRS calendar for those dates.)
- January 31 – You need to provide a 1099 form to any non-employees you paid in 2017 by this date. You also must issue W2s to your employees by this date. Due to the Equifax breach, it’s recommended that people file their returns early this year, so the sooner you issue these forms, the better.
- January 31 – You must also file a form 1099-MISC with the IRS for any non-employee payments for 2017.
- January 31 – Employers have to file their 2017 forms W-2, W-2AS, W2CM, W-2GU, W-2VI, W-3 and W3SS with the Social Security Administration by this date.
- January 31 – If you are subject to excise tax, you must file form 720 for the 4th quarter 2017 by this date.
- January 31 – Employers that didn’t pay all of their payroll taxes on time must file the applicable forms 940, 941, 943, 944 and/or 945 by this date. If they did pay them on time, they have until February 12 to file these forms.
- January 31 – You need to pay any FUTA tax owed through December, 2017 by this date.
When you’re ready to tackle those 2018 business resolutions, talk to us. The finance experts at Driven Insights will show you how your accounting data can reveal the measures you need to take to make those resolutions a reality.
Convert Your Finance Function into an Advantage
At Driven Insights, we show business owners how to find and use the hidden intelligence in their financials to increase profits. Ask us how our outsourced accounting services will help you make the upcoming year more successful than ever. Reach out 888-631-1124 / [email protected] to find out how outsourcing your accounting replaces tax-time stress with year-round confidence.
