The topic of taxes for most small business owners is their least favorite. It involves time and cost, both of which owners have in limited supply. Nonetheless, tax matters can’t be ignored. January 31, 2023, is an important date for businesses when it comes to reporting certain information to workers and to the government. The failure to do so can result in serious penalties. The sooner you get your data organized and determine how forms will be filed, the easier it will be to meet the deadlines. Be sure the deadlines are clearly marked on your calendar.
