End of the Year Small Business Tax Strategies – Quarter Four
On October 1st
So, you’ve made it to the end of the year.
Finish up those small business tax strategies for 2011 and you can start the new year ready to go!
October:
- Monday Oct. 17th – Employers should remember that your September 2011 payroll tax deposit is due if you’re not on a semiweekly deposit schedule.
- Monday Oct. 31st – Employers should file Form 941 (payroll tax) for the 3rd quarter of 2011 and deposit unpaid taxes as well as deposit unemployment tax (for the 3rd quarter) if you own more than $500 FUTA for the year.
November:
- During November, ask your employees whose with-holding allowances will change in 2012 to fill out a new Form W-4.
- Also, ask each eligible employee who wants to receive advance payments of the earned income credit during 20ll to fill out a Form W-5.
- Tuesday, Nov. 15th – October 2011 payroll tax deposit is due if you’re not on a semiweekly deposit schedule.
December:
- Thursday, Dec. 15th – Corporations should pay the 4th installment of your 2011 estimated income tax.
- Remember that November 2011 payroll tax deposit is due if you’re not on a semiweekly deposit schedule.
- During December or prior to your last payroll process, calcualte employees personal use of auto inclusion amount. Also for S-Corps, calculate amount of health insurance paid for greater than 2% owners
That’s it, 2011 is almost over and all of your small business taxes should be taken care of!
If you have any questions about tax planning, small business tax planning or think I can help you in any other ways, contact me, or give me a call at (239) 384-9688. You may also download one of my FREE eBooks.
– Mark
This information is based on facts, assumptions and representations as stated and authorities that are subject to change. We will not update this information for subsequent legislative or administrative changes of future judicial interpretations.
LEGAL NOTICE AND DISCLAIMER: The information within this blog is for informational and educational purposes only and is not tax advice and should not be used as such. The facts of each individual situation can have significantly different outcomes when applying tax law. The hiring of a CPA is an important decision not to be based solely on advertisements.
