Tax Season Is Over, What’s Next?
There are three types of people post tax season: those who filed their returns, those who extended, and those who are panicking…
If you find yourself in the panic crowd or know someone that is, we’d love to have a conversation about how we can help.
If you’re in the first two buckets, you can’t get too comfortable!
One of the sneakiest tax deadlines of the whole year is the second quarter due date for estimated taxes – it comes just two short months after you paid your first installment in April!
June 16th (the Q2 estimated tax deadline) is coming up quickly, and May is a great time to get organized and avoid surprises. Missing a quarterly tax payment can result in penalties and interest (even if you filed on time in April!), so it’s always best to stay proactive.
Need help figuring out how much you need to pay next month? We can help with that!
Understanding your numbers shouldn’t feel like learning a whole new language.
But let’s be honest,reviewing your financials can feel like a Duolingo lesson for a lot of small business owners.
That’s why I created the Ultimate Accounting Cheat Sheet, a plain-English guide to all the accounting jargon you actually need to know.
Inside, you’ll find no-fluff definitions of the most common accounting and tax terms,so you can feel confident talking money without second-guessing yourself.
This guide is for informational purposes only and is not intended as tax advice. Always consult with your financial professional for guidance specific to your situation.
I’ve got homework for you! Reflect on your most recent tax season using this quick survey and rate your experience from a 1-5 (5 being the best!).
• How was the communication from my tax accountant? Did I feel like I truly understood my return or reason for extending?
• For my business, were my books prepared in a timely and accurate manner to be used to prepare my tax return?
• How happy am I with my current finance team?
If you got a total of at least 9 and up, it sounds like things are going pretty good! But if you’re scoring your tax season experience lower, May is the perfect month to make a change!
Are you ready to make a change? We are here to help and ensure you have the support you need!
Lourene Bouffard
[email protected]
www.everypennybooks.com
(518) 290-8330