Owning a startup or a small business is no easy task, especially when tax season rears its ugly head. It is important to know each deadline and to stay on top of each requirement to ensure success for the year ahead. Read further to become familiar with monthly due dates that are imperative in 2023.
Beginning in January, payments for employees and independent contractors are due. This involves forms like the W-2 or W-3 and other similar employment documents. In February, paper filings are due, and extensions are recommended to be sorted out at this time. March is the time specifically for Delaware Franchise Annual Report and Tax to be turned in, and is also the month in which S-Corp and partnership extensions are due.
April 18 is tax day, and it is on this date that quarter 1 estimated tax payments are due. Moving into May, foreign investment forms are due in this month. In June, those second quarter tax payments sneak up quickly, as well as the quarter three payments in September. Extended returns are due in the middle of October, after which penalties will be assessed. The final quarter tax payments are due in December, wrapping up the year with minimal other responsibilities at this time.
Several agencies and services are devoted to making taxes less painful for all. Take advantage of the aid this tax season and stay on top of your finances.