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Key Business Tax Deadlines at the Start of the Year

Key Business Tax Deadlines at the Start of the Year

The beginning of the year is a busy time for business owners, not just for planning and goal setting, but also for meeting critical tax deadlines. Missing these dates can lead to penalties, compliance issues, and unnecessary stress. Staying ahead of these obligations ensures a smooth start to the year and keeps your business on track. Here’s what you need to know about the key tax deadlines that arrive early in the year.

January 15 – Fourth Quarter Estimated Tax Payment

If your business pays quarterly estimated taxes, the final payment for the previous year is due by January 15. This applies to sole proprietors, partnerships, and corporations that do not pay taxes through withholding. Making this payment on time helps you avoid interest and penalties.

January 31 – W-2 and 1099 Filing

By the end of January, businesses must provide W-2 forms to employees and 1099 forms to independent contractors. These forms also need to be filed with the IRS. Preparing these documents early ensures accuracy and compliance, and it gives your team time to resolve any discrepancies before the deadline.

Early February – State Filing Requirements

Many states have their own deadlines for payroll tax filings and annual reports. These dates vary, so it’s important to check your state’s requirements and mark them on your calendar.

Why These Deadlines Matter

Meeting these deadlines isn’t just about avoiding penalties, it’s about maintaining accurate records and setting the stage for a stress-free tax season. When your filings are complete and your payments are made on time, you can focus on growing your business instead of scrambling to catch up.

Start Tax Season Stress-Free with ProNexus LLC

At ProNexus LLC, we help businesses stay ahead of tax season with expert accounting and tax preparation services. From organizing your books to filing accurate returns, our team ensures you’re ready for every deadline.

Contact ProNexus LLC today to schedule your tax preparation consultation and start the year with confidence.

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