Tax season can cause stress months before any paperwork is even due. Our professionals here at Norton CPA, LLC can take over your bookkeeping and accounting to help to ease the dreaded deadlines and keep your business on track.
What You Need During Tax Season
Before we get to the dates that every small business owner should keep in mind, read through some of the typical necessities that you may need come tax time.
- Gross incomes
- Salaries
- Invoices
- Sales
- Business expense receipts (ex. Office supplies)
- Vehicle use
Keeping accurate records of your business’s expenses and earnings will prepare you when it comes time to file, pay quarterly taxes, or issue forms to independent contractors.
Important Dates & Forms to Keep Track of
Don’t try to tackle taxes right before the deadline. Knowing due dates for payments and filing can help your business stay organized each year. To make tax season throughout 2023 easier for your small business, consider marking these dates on your calendar.
Individual Taxpayers:
-
January 15, 2023: Fourth quarter estimated tax payments are due for the tax year 2022. If you’re self-employed or have other sources of income that aren’t subject to withholding, be sure to make your estimated payments by this date.
-
April 18, 2023: The deadline to file your federal income tax return for the tax year 2022. If you need more time, you can file for an extension, but be sure to pay any taxes owed by this date to avoid penalties.
-
June 15, 2023: Second quarter estimated tax payments for the tax year 2023 are due.
-
September 15, 2023: Third quarter estimated tax payments for the tax year 2023 are due.
-
October 16, 2023: If you filed for an extension on April 18, 2023, this is the deadline to file your federal income tax return for the tax year 2022.
Business Owners:
-
January 31, 2023: Deadline for employers to furnish Form W-2 to employees and for businesses to issue Form 1099-MISC to non-employees who received $600 or more in compensation during 2022.
-
March 15, 2023: Deadline for filing corporate tax returns (Form 1120) for the tax year 2022 for S-Corporations and partnerships. If you need more time, you can file for an extension, but remember to pay any taxes owed by this date.
-
April 18, 2023: The deadline to file your federal income tax return (Form 1120) for the tax year 2022 for C-Corporations.
-
June 15, 2023: Second quarter estimated tax payments for corporations are due.
-
September 15, 2023: Third quarter estimated tax payments for corporations are due.
-
October 2, 2023: Deadline for providing employees with information about health insurance coverage under the Affordable Care Act (ACA). Form 1095-B or 1095-C must be furnished to employees by this date.
General Deadlines:
-
April 18, 2023: First quarter estimated tax payments for individuals and corporations are due.
-
June 15, 2023: The deadline for U.S. citizens or resident aliens living abroad to file their federal income tax return for the tax year 2022.
-
October 16, 2023: Extended deadline for U.S. citizens or resident aliens living abroad to file their federal income tax return for the tax year 2022.
These dates are subject to change, and specific situations may vary. It’s always a good idea to consult with a qualified tax professional, like those at Norton CPA, LLC, to ensure you’re meeting all your tax obligations accurately and on time. Our team is here to provide guidance and support, helping you navigate the complexities of the tax landscape and make the most of your financial opportunities. Stay proactive, stay informed, and make 2023 a year of financial success!
Let Our Professionals Help!
Norton CPA, LLC is here to take your business’ books off your hands. Avoid any major headaches come tax season and keep thorough records all year long with the help of our professional accountants. We provide accurate and affordable bookkeeping and accounting services in the Union County area, call us today at (201) 988-6806