Winter Quarterly Newsletter 2025
President’s Message
Well, it is official! Tax season is here! We hope this letter finds you doing well. For us, we are excited to start the tax season. We look forward to serving you and the referrals you may send.
Preparing your Tax Documents and other Tips
As we enter the new tax season, here are some things you can start doing now.
· Be sure to look over your checklist that we sent out. This can be a helpful tool to help keep documents organized and help prevent you from missing anything that may be needed for your tax preparation. If you need a new checklist, feel free to reach out as one of us will be able to send that to you.
· When your tax documents arrive, be sure to put them in a designated spot.
· If possible, try to send us your documents early. By the middle of March, we are usually about two weeks out from when we receive tax documents. Once we pass April 1, we may need to file an extension.
· In the scenario where you do need an extension, please know that an extension gives you more time to file, not for paying your tax due. If you do owe, try to pay the tax by April 15th so that you can avoid late payment penalty or interest.
The elections are over! What does this mean for taxes?
No matter what candidate we support, each one had their own approach regarding taxes. With the new administration coming in, I am not expecting a lot of changes. The tax brackets should stay as they are as should most tax credits. If there is anything significant that you should know about, we will send a separate notice to you. As always, if you have any questions feel free to reach out as we are happy to help!
New Clients are Welcome!
Over the past couple of years, we have found that many tax preparers are retiring while less are going into the tax preparation business. We want you to know if you have a friend, family member, or co-worker that is needing tax preparation, we are happy to help. As an FYI, once we are into the middle of March, our capacity to take on new clients becomes less and less. Pass our name along early so we can help those that you send our way.
Important Dates
· March 9, 2025, Daylight Saving Time Begins
· March 17, 2025, Corporate Tax Deadline
· April 15, 2025, Individual Tax Deadline
· May 26, 2025, Memorial Day - Office Closed