The end of the calendar year is a busy time for everyone. For many businesses, it’s the time to review profitability and plan for the upcoming year. It’s also time to start thinking about tax season if you are not currently working with a monthly accounting firm that takes a proactive approach to tax planning year-round.
While March or April may seem far away, gathering your data now can help you avoid a bottleneck come spring. Most importantly, you’ll gain insight into your business’s fiscal health, with time left before tax season to leverage this insight and drive growth.
What important deadlines and dates should you keep in mind for the 2017 tax year? We’ve created a handy calendar of eight dates you need on your calendar.
2017 Tax Year Dates and Upcoming Deadlines
January 16, 2018
Estimated Quarterly Payments: Fourth and final 2017 estimated quarterly payment for profitable corporations. Note that you do not have to file this payment due on January 16, 2018, if you file your 2017 tax return by January 31, 2018 and pay the remaining balance owed with your return.
January 31, 2018
Send 1099 and W2 Forms to Employees and Independent Contractors: Today is the deadline to fill out and mail all forms 1099 and W2 to independent contractors and employees, respectively.
March 15, 2018
Partnership and S Corporation tax returns are due: Today is the deadline to file your SCorp tax return (form 1120S or Partnership return (1065, or file for an extension).
April 2, 2018
File W2 and 1099 Forms Electronically: If you work with employees, independent contractors, or both, and you’re filing forms online, today is the deadline to electronically file copies of your W2 and 1099 forms for 2016.
April 17, 2018
Individual and C Corporation tax returns are due: Today is the deadline to file individual (forms 1040) and CCorp (forms 1120) tax returns, or file for an extension.
Usually, April 15 is the tax deadline. But in 2018, April 15 falls on a Sunday, and Monday 4/16 is Emancipation Day in Washington D.C., so taxes are due on Tuesday 4/17.
Estimated Quarterly Payments: The first 2017 estimated quarterly payment for profitable corporations is also due on April 17, 2018.
June 15, 2017
Estimated Quarterly Payment: The second 2018 estimated quarterly payment for profitable corporations is due today.
September 17, 2018
Final deadline for extended Partnerships and S Corporations: If you were granted an extension on your 2016 taxes, today is the final deadline to file forms 1120S and 1065.
Estimated Quarterly Payments: The third 2017 estimated quarterly payment for profitable corporations is due today.
October 15, 2018
Individual and CCorp Tax Returns Due (with Extension): If you were granted an extension on your 2016 taxes, today is the final deadline to file forms 1040 and 1120.
Questions about your tax obligations? Don’t wait to get the answers you need.
If you have questions about your tax obligations, don’t wait until the new year to reach out to an accountant. If you haven't already made the jump to monthly accounting for your small business, are you getting the support and insight you need to grow your business?
Many small businesses start by hiring an annual accountant. An annual service can be a great way to reduce the time you spend filing taxes, and to help you focus on your business.
However, many small businesses quickly find that annual accounting services aren’t the right partners they need to grow their business. In comparison, a monthly accounting service provides consistent suggestions to make your business more profitable throughout the year.
Don’t wait until tax season. Contact us today and get the expert advice you need to grow your business today.