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As a small business owner, the deadlines never seem to end. And, unfortunately, right after all the hustle of the holidays, January can be the most overwhelming for tax deadlines. Below are some of the deadlines that need to be heeded before the end of the month:

If you have employees:
  • Form 941 filing and payment for quarterly payroll taxes – Deadline January 31st
  • Form 940 filing and payment for annual federal unemployment taxes – Deadline January 31st
  • Employees’ W-2 and W-3 filing and distribution – Deadline January 31st
  • State quarterly unemployment filing and taxes – Deadline January 31st in Idaho
  • State annual payroll filing and withholding payment – Deadline January 31st in Idaho
  • Workman Compensation filing – Typically Deadline January 31st
If you collect sales tax:
  • Sales and Use Tax filing and payment – Deadline January 31st
If you paid any vendor/supplier more than $600:
  • Form 1099 filing and distribution – Deadline January 31st

If you have not yet done so, we recommend you reading our Due Dates post for helpful reminder calendars.

It is also recommended to have all employees complete a new Form W-4 at the beginning of each new year. Also, if you do not subscribe to a payroll service, you should download and start using the newest withholding tables from the IRS. (For 2018, we are to keep using the 2017 tables until the IRS is able to implement the newest tax reform bill.)

Support4Business offers a variety of tax forms and envelopes to assist you with your year-end tax deadlines. See our online catalog, visit our online store or contact us for assistance.

Finally, January is a great time for new year’s resolutions, so now is the time to start the year off right. We encourage you to:

And while you are getting organized and moving last year’s files aside, making room for the new year’s filing system, you might as well start getting your tax records assembled. Because, guess what? The next big deadline for the year is right around the corner…April 15th! We recommend you not wait until the last minute, as there are still options available to help lower your tax liability. A few minutes of organizing each day will make tax filing much less stressful.

Until next issue…Best wishes in your endeavors!

Note: This post may contain affiliate links. By clicking on them and purchasing products through my links, I receive a small commission.

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