Things to remember as April approaches…

April can feel overwhelming for small business owners, but a little preparation can go a long way in reducing stress. As tax deadlines get closer, here are a few key things to keep in mind:

1. File Your Taxes by April 15 (or Request an Extension)
   Make sure your federal (and state, if applicable) tax returns are filed on time. If you’re not ready, you can request an extension—but remember, an extension to file is not an extension to pay.

2. Ensure Your Books Are Accurate and Complete
   Double-check that all income and expenses from the prior year are recorded, reconciled, and categorized correctly. Clean books help prevent errors and missed deductions.

3. Gather Supporting Documents
   Collect receipts, invoices, bank and credit card statements, and any documentation for major expenses, charitable contributions, or deductions.

4. Review Estimated Tax Payments
   If you pay quarterly taxes, now is a good time to review what you’ve paid so far and prepare for your first 2025 estimated tax payment, which is due April 15.

5. Plan Ahead for Next Year
   Use this time to identify areas you can streamline—like setting up monthly bookkeeping or better record-keeping habits—so tax season is less stressful next year.

Disclaimer: This post is for informational purposes only and is not tax advice. Always consult with your tax professional or CPA to ensure you’re meeting your specific obligations and deadlines.