Save the Date!

 

As a small business owner, one of the most important things you’re responsible for is taking care of your taxes every month.

In order to prepare you for this, we’ve gathered the January tax due dates that you need to know about! Knowing the due dates will help you prepare your bank account for these dings. Plus, paying on time means you won’t have to pay any unnecessary penalties or interest.

January is extra special because Annual filings begin coming up!

Here are the due dates you need to know about:

 

Payroll Tax Deadlines

If you’re a semi-weekly payroll tax depositor:

  • If your payroll date falls on a Sat, Sun, Mon, or Tue, be sure to make your payment the following Friday
  • If your payroll date falls on a Wed, Thur, or Fri, be sure to make your payment the following Wednesday

If you’re a monthly payroll tax depositor:

  • January 15th, 2018: 941 Federal Monthly Deposit

 

January 10th, 2018: Form 4070 (employee tips over $20) due to you from employees for the month of November (make sure to collect them!)

 

Federal Quarterly Filings (for Oct-Dec 2017)

January 31st, 2018: FUTA tax deposit for previous quarter due

January 31st, 2018: Form 941 – Quarterly Federal Tax Form due

 

Federal Annual Filings (for 2017)

January 31st, 2018: 1099-MISC Copy A due to IRS

January 31st, 2018: 1099-MISC Copy B due to contractor if box 7 is filled

January 31st, 2018: W-2 Copy A due to Social Security Administration

January 31st, 2018: W-2 Copy B & C (also Copy 1, if applicable)  due to employees

January 31st, 2018: W-2 Copy 1 due for state income tax (if applicable)

January 31st, 2018: W-3 due to Social Security Administration

State Sales Tax- for December 2017

January 22, 2018: Colorado Sales Tax Due

January 22, 2018: Arizona Sales Tax Due

  • If tax due for 2017 was $300 or less, it’s due annually instead of monthly on January 22, 2018

Note: Each state might have a different due date for sales tax, if you don’t know your due date, call or go online to your state’s Department of Revenue.

Income Tax

Arizona Income Tax (for 2017)

January 31, 2018:  A1-APR Annual Income Tax Return

  • Send with copies of W-2, or form A1-T if filing this form electronically
  • Form Instructions

January 31, 2018:  A1-R- Reconciliation, if Quarterly Depositor

  • Send with copies of W-2, or form A1-T if filing this form electronically
  • Form Instructions

 

Colorado Income Tax (for 2017)

January 31, 2018:  DR 1093- Annual Transmittal of W-2 Forms

Bonus

 

Bank Holidays

It’s also very important to know the banking holidays every month. Make sure to mark them on your calendar and plan accordingly when it comes to payroll, paying contractors, and paying bills. It could also affect your deposits and how much you’re paying your employees.

Martin Luther King Day- Monday, January 15th, 2018