We all know that Januarycan be a very busy month for most of us. The QuickBooksGal is here to helpalleviate any stress and worries that you may have with a January To-do list.
January To-do List:
Step one: W-4's
- Download or order your IRS W-4 forms and have all employees fill out and sign them. If there are any changes to withholding that need to be made, now is the time to do it.
- Order W-2 forms at QBGal Store to receive a 20% discount.
- Send W-2 forms to employees no later than January 31st.
- Copy A goes to the Social Security Administration
- Copies B & C go to the employee
- Copy D the employer retains for their records
- Use W-3 form which is a recap sheet that indicates how many forms there are and the total amount of W-2's in transmission
- Photocopy your W-3 form and attach to your file copy D.
1099 forms: are required for any service providers thatare unincorporated, to whom you pay $600 or more a year. Samedeadlines apply for 1099 as they do for the W-2 forms
- Copy A for Internal Revenue Service Center
- Copy B for the independent contractor or 1099 vendor
- Copy C for the business owner (you)
- Copy 1 and 2 to the recipient
Is submitted with copy A and then submitted to the IRS.Make sure to check the"mail-to" address on transmittal forms, since they vary.
SMART TIP!

