Mastering Sales Tax Reporting: How QuickBooks Eases Tracking

As a business owner, managing sales tax reporting can be quite a daunting task. This tax, however, is extremely important given a company’s clients need to understand the final price of the item and businesses must anticipate how much tax they are responsible for giving back to the government.

The domino effect of improper sales tax calculations can affect a business’s long-term financial goals, a result easily avoided with the right tools that streamline the calculation process and ensure compliance across all avenues.

QuickBooks software offers several features that make tracking sales tax for products and services a breeze. Read More HERE

Mark Your Calendar

Due April 1, 2024: Required minimum distribution if turned 73 in 2023

Due April 15, 2024:

• Filing Tax Return or to Request an Extension- Form 1040.

• First Quarter, January – March Estimated Quarterly Taxes:
  Form 1040-ES

• C Corporations and Sole Proprietors Tax: Form 1120
  

  April 15th Additional Due Dates:

• File Schedule H (1040) and Pay Employment Taxes for Household Employees

• Contribute to IRA for 2023

• Contribute to Health Savings Account for 2023

• Withdraw Excess IRA Contributions in 2023 to Avoid Penalty if Filing of Form 1040 Was Not Extended

• Plan or Simplified Employee Pension (SEP) Plan for 2023 by Self-Employed if Filing of Form 1040 Was Not Extended 

• Foreign Bank and Financial Accounts (FBAR) – FinCEN Form 114

Due May 15, 2024:

• Exempt Organizations – Forms 990

• TX Franchise Tax Extensions Due

Due June 17, 2024:

• Second Quarter, April – May Estimated Quarterly Taxes: Form 1040-ES