Taxes are not our favorite subject and if you are like me, you might forget about them but celebrating July 4th reminded me – “No Taxation without Representation”! So here is some useful upcoming tax calendar info for optical and all businesses from Alert in case you need that little memory jog:
July 15: If the monthly deposit rule applies, employers must deposit the tax for payments in June for social security, Medicare, withheld income tax, and non payroll withholding.
August 1: If you have employees, a federal unemployment tax (FUTA) deposit is due if the FUTA liability through June exceeds $500. The second quarter Form 941 (Employer’s Quarterly Federal Tax Return) is also due today. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the quarter in full and on time, you have until August 10 to file the return.
August 15: If the monthly deposit rule applies, employers must deposit the tax for payments in July for social security, Medicare, withheld income tax, and non payroll withholding.