Totally Balanced Bookkeeping, LLC

Don’t miss these important deadlines!

👉🏼 The deadline for Q4 estimated tax payments for 2022 is Jan. 17th, which applies to income from self-employment, investments, gig economy work and more.

🚨 January 31, 2023 filing deadlines

👉🏼 W-2
If you have employees, you’ll need to fill out two copies of Form W-2 for each one. One W-2 must be submitted to the IRS and the other must be sent to the employee.

👉🏼 Form 1099-NEC Copy A and B
If you work with independent contractors, you must file Form 1099-NEC. Copy A must be filed with the IRS by this date and Copy B must be furnished to the contractor on this date, as well.

👉🏼 Form 1099-MISC Copy B
Regardless of whether you file electronically or use paper forms, Copy B of Form 1099-MISC must be sent to the payee.

Hiring a professional bookkeeper will save you time and money. 💰
Bookkeeping is important for helping you maintain accurate financial records. Did you know poor accounting is one of the top reasons businesses fail? 📈 Which is why it is important and critical to the success of your business that you have a good handle and understanding of the financial health of your business from the start. 👈What you do now and the habits you create will either drive your business to success or failure. Without proper bookkeeping or accounting, you are blindly driving your business.
Still not convinced that your focus needs to be on bookkeeping? Below are 5 reasons why bookkeeping is important.
1. Provides a snapshot of your business to track performance 👉profit and growth

2. Financial Management to keep all your records in order and to ensure everything is accounted for

3. Planning Purposes to build and expand for the future

4. Budget because growing a business takes time and money management is key

5. Tax Preparation so that you are prepared and have all the financial docs you need to make this process as simple as possible

You now know why bookkeeping is important. ✨ It can save you money, time, and a headache. If you find yourself needing to implement a bookkeeping process, consider hiring us for professional to help. No more worrying about your company’s books. Leave it to the experts! 🤝

When it comes down to it, it’s all up to you!! It takes to make those dreams of yours a reality. So let’s do it! 💛

The filing deadline for Federal income returns and tax payments has been extended from April 15 to July 15, 2020.

Keep in mind, State filing and payment deadlines vary and are not always the same as the federal filing deadline. For more information regarding your State Tax filing, please visit https://www.taxadmin.org/state-tax-agencies.

State Tax Agencies