“Quicklet” - A Podcast for QuickBooks Pro, Premier, Enterprise Solutions, Point of Sale and Peachtree users featuring helpful information, tips, tricks and suggestions for bookkeepers, business owners, and consultants. Got a QuickBooks Mess? Call The QuickBooks Gal!
January 31st Deadlines
• State Unemployment Taxes & Forms should be completed, filed and liabilities paid by Jan 31st.
• Local returns and liabilities are usually due on the last day of January; check your local regulations.
• 941 4th Quarter 2007 report is due and should be postmarked by Jan 31, 2008.
• 940 Annual FUTA return is due and should be postmarked by Jan 31, 2008.
• W-2’s are due to be distributed to employees or postmarked no later than Jan 31, 2008.
• 1099’s (Miscellaneous, Interest, etc) must be postmarked no later than Jan 31, 2008.
February 28th Deadlines
• Federal copy – 1099 – 1096 transmittal enclosed – postmarked no later than Feb 28, 2008.
• Store 2007 payroll records
• Date stamp all reports listed above with the dates you mailed them
• Attach certified mailing receipts if applicable
• Download W-4 2008 form and distribute to employees and update payroll records with any changes to employee addresses or withholding data.
• Download the new I-9 form and get completed forms from all employees
• Clean up payroll file in QuickBooks and make former employees inactive.
• Download W-9 form and mail to new subcontractors/vendors.
• Create a checklist for quarterly and end of year tasks; you’ve just completed these tasks, so now is a great time to create a spreadsheet or document with a checklist of these tasks, processing notes and deadlines so you will have a handy tool next year. You can modify the checklist for use on a quarterly and year-end basis. This is especially helpful if you have multiple clients…helps to assure you don’t forget anything.
Well, that’s it for now. I appreciate your time and hope you will join us again next time for another in our Quicklet© series. If there are topics you would like me to cover, send me an email at firstname.lastname@example.org. I welcome your ideas, questions, and comments.
I’m Jayne Miller, The QuickBooks Gal. Thanks for listening.
Jayne Miller, is the owner of Custom Business Solutions, is a consulting firm in Reno, NV that specializes in providing bookkeeping and software support. © 2008