December 2015 Tax Due Dates for Business Owners

9 December 2015
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Yesterday, we went over the December 2015 tax due dates for individuals. Those of you who read our blog regularly know that we usually follow up with tax due dates for business owners, and voila, here we go:

December 1 – Employers

During December, ask employees whose withholding allowances will be different in 2016 to fill out a new Form W4 or Form W4 (SP).

December 15 – Social Security, Medicare and Withheld Income Tax

If the monthly deposit rule applies, deposit the tax for payments in November.

December 15 – Nonpayroll Withholding

If the monthly deposit rule applies, deposit the tax for payments in November.

December 15 – Corporations

The fourth installment of estimated tax for 2015 calendar year corporations is due.

December 31 – Last Day to Set Up a Keogh Account for 2015

If you are self-employed, December 31 is the last day to set up a Keogh Retirement Account if you plan to make a 2015 Contribution. If the institution where you plan to set up the account will not be open for business on the 31st, you will need to establish the plan before the 31st. Note: there are other options such as SEP plans that can be set up after the close of the year. Please call the office to discuss your options.

December 31 – Where did the time go?! It’s the last day of the year!

This is your last call to make financial moves that can affect your tax year. If the actions you wish to take cannot be completed on the 31st or a single day, you should consider taking action earlier than December 31st. Please set up an appointment with Dagley & Co. before this day so we can get you all squared away in time.

Image via Rosé Media, used with permission