As a small business owner, one of the most important things you’re responsible for is taking care of your taxes every month. If you don’t, Uncle Sam will chase you down and make you pay way more than you originally owed just to keep your doors open. Ouch!
In order to prepare you for this, we’ve gathered the March 2018 tax due dates! Knowing the due dates will help you prepare your bank account for these drafts.
Super bonus: Paying on time means you won’t have to pay any unnecessary penalties or interest.
While March doesn’t have nearly the amount of annual forms as those due in January, there are still a few! They only happen once a year, so it’s easy to forget about them.
Here are the March 2018 tax deadlines you need to know about...
Payroll Tax Deadlines
If you’re a semi-weekly payroll tax depositor:
If your payroll date falls on a Sat, Sun, Mon, or Tue, be sure to make your payment the following Friday
If your payroll date falls on a Wed, Thur, or Fri, be sure to make your payment the following Wednesday
If you’re a monthly payroll tax depositor:
March 15, 2018: 941 Federal Monthly Deposit
March 10, 2018: Form 4070 (employee tips over $20) due to you from employees (make sure to collect them!)
2017 Federal Tax Filing Deadlines
March 15, 2018: S Corps and Partnerships 2017 Taxes Due (Filed and Paid)
February 2018 Sales Tax Deadlines
March 20, 2018: Colorado Sales Tax:
March 20, 2018: Arizona Sales Tax: March 20, 2018
It’s also very important to know the banking holidays every month. Make sure to mark them on your calendar and plan accordingly when it comes to payroll, paying contractors, and paying bills. It could also affect your deposits and how much you’re paying your employees.