January Tax Deadlines

Can you believe it's 2023?! As a new year begins, you will need to begin preparing your tax documents from the previous year. If you are a small business owner, there are a few forms you will need to complete soon. To help you stay on top of your tax deadlines, we created a list of forms you should have completed by the end of January.

• W2 Forms for Employees: When you have employees on payroll, you are required to provide every person with copies of their W2 form. This form must reflect the employee’s wage and any bonuses they may have received for the 2022 year.

• W3 Form for the Social Security Administration: A W3 form must be submitted to the Social Security Administration outlining the wages, tips, and other compensation employees received. 

• Form 1099-NEC: If you paid any contract workers, freelancers, or service providers in 2022, then they need to be provided with a copy of a 1099-NEC form. 

We know that doing your taxes on your own can be a hard task to complete, but we are here for you! If you need help preparing any tax documents or forms for your small business, contact AMJ Bookkeeping at (919) 368-1877 today.

Source: https://www.easieraccounting.com/january-accounting-list-small-businesses