Important Federal Tax Dates for February 2012

Wed 1 Deposit payroll tax for payments on Jan 25-27 if the semiweekly deposit rule applies.
Fri 3 Deposit payroll tax for payments on Jan 28-31 if the semiweekly deposit rule applies.
Wed 8 Deposit payroll tax for payments on Feb 1-3 if the semiweekly deposit rule applies.
Fri 10 Deposit payroll tax for payments on Feb 4-7 if the semiweekly deposit rule applies.
Fri 10 Employers: Employees are required to report to you tips of $20 or more earned during Jan.
Fri 10 File 2011 Forms 940, 941, 943, 944 and/or 945 if you timely deposited all required payments.
Wed 15 File a new Form W-4 if you claimed exemption from income tax withholding in 2011.
Wed 15 Furnish Forms 1099-B, 1099-S and certain Forms 1099-MISC to recipients.
Wed 15 Deposit payroll tax for Jan if the monthly deposit rule applies.
Wed 15 Deposit payroll tax for payments on Feb 8-10 if the semiweekly deposit rule applies.
Thu 16 Begin withholding on employees who claimed exemption from withholding in 2011 but did not file a W-4 to continue withholding exemption in 2011.

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Go ahead, check them out!  2012 will be a great year to start your online business, and I’ll be here to help however I can!

Thank you.  Be well.

~John

Making Government Work Better for Entrepreneurs and Small Business Owners

by Karen Mills, SBA Official

Today was an important day for America’s small businesses. President Obama asked Congress for the authority to reorganize and modernize government and he elevated my position as the SBA Administrator to Cabinet-level status.

These actions are a reflection of the importance he places on small business, economic growth, and job creation.

He asked Congress for the authority that Presidents from Hoover to Reagan have had to reorganize and modernize the federal government. This authority lapsed in 1984, but, today, the federal government needs to be updated to ensure that it meets the demands of entrepreneurs and small business owners in the 21st century.

The President’s first proposal under this authority would be to create a unified department focused on economic growth and job creation, so that we can be more effective at helping businesses do what they do best – create jobs.

For the entrepreneurs and small business owners that SBA and other agencies serve, this is very good news. A more integrated approach would ensure that small businesses would have access to all of the federal government’s programs in a more seamless, coordinated, and coherent way.

Read more... (302 words, estimated 1:12 mins reading time)

Ohio Secretary of State Husted Releases Year-End Filing Figures for New Businesses

SECRETARY OF STATE HUSTED RELEASES YEAR-END FILING FIGURES FOR NEW BUSINESSES

Announces updates to filing forms for companies to make doing business in Ohio easier.

 COLUMBUS  Secretary of State Jon Husted today announced that 82,601 new entities filed to do business in Ohio in 2011. Those numbers are up compared to 2010, in which 80,081 new entities filed. Secretary Husted also announced the roll-out of updates to filing forms designed to make is easier for domestic and foreign companies to do business in Ohio.

When it comes to the number of new businesses choosing to operate in Ohio, our state is heading in the right direction, Secretary Husted said. The Secretary of States office continues to do its part to ensure a more welcoming business environment, working to streamline the filing process for Ohio companies. We hope for an even more prosperous year for Ohio in 2012.

The year-end numbers include figures for December 2011, in which the Secretary of States office assisted with 6,463 new business filings. This is a slight increase from December 2010, in which there were 6,226 new entities filed.

Read more... (380 words, 1 image, estimated 1:31 mins reading time)