Spring also marks tax season. If you haven’t filed your taxes, you still have some time. The deadline to file this year is Monday, April 15. Here’s a short checklist to help you prepare your tax returns. 1.????? Gather your tax documents, including your W-2s, 1099s, and any other income or deduction statements. 2.????? Determine your filing status (single, married filing jointly, etc.). 3.????? Gather all necessary information for any credits or deductions you plan to claim. 4.????? Double-check all your calculations before you submit your return. If you have questions about filing your taxes, discuss them with a financial adviser.

June 17th is the due date for paying your second quarter estimated taxes! ?? Want to know my FAVORITE hack for never missing an estimated tax payment? Using IRS Direct Pay, you can schedule payments up to one year in advance. ?? https://lnkd.in/eA6zJCBj to get a copy of FREE GUIDE TO ESTIMATED TAXES.

With tax season officially here, you may be wondering how much you will owe or how much your refund will be for this year. To capture the most accurate information about what you’ll owe in taxes, you’ll want to use the worksheets provided by the IRS and work with a tax professional. But, for a quick estimate, Northwestern Mutual has created a simple and easy to use worksheet to help you estimate your taxes. Access the worksheet here: https://lnkd.in/gixSwd2p

?? Avoid costly penalties by filing your taxes on time! Even if you can't pay immediately, submit your return to minimize penalties. The IRS offers relief options like installment agreements and penalty abatement. And don't forget your state taxes! Schedule a mid-year tax checkup and prepare early. Our tax prep appointments open in December—book ahead to stay on track. https://loom.ly/IBDHM10 #FinancialPlanning #GleasonTaxAdvisory #TaxDeadlines

?? Need More Time for Taxes? File an Extension! If you can’t meet the April 15, 2024 deadline for filing your federal tax return, don’t panic! You can request an extension. Here’s how: Online Option (IRS Free File): Use IRS Free File at IRS.gov/freefile to request an automatic filing extension. You’ll have until October 16, 2024, to file your 2023 federal income tax return. Form 4868 (By Mail): File Form 4868, the Application for Automatic Extension of Time to File, before the regular tax filing deadline. This gives you extra months to prepare your tax return, no matter why you need more time. Remember, an extension is for filing your return, not for paying any taxes owed. Make sure to estimate and pay any tax liability by the April filing due date. ????? #TaxExtension #IRS #DeadlineApproaching

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When filing your tax return, a filing status must be chosen. This is used to determine your standard deduction, rates and eligibility for certain tax breaks. If you’re married, should you file jointly or separately? It depends on your situation. You should generally use the status that results in the lowest tax. But remember: If you file jointly, each spouse is “jointly and severally” liable for tax on your combined income (as well as any other tax, interest and most penalties the IRS assesses). So the IRS can come after either of you for the full amount. In most cases, joint filing saves more tax, but some people save by filing separately. We’ll weigh the options when preparing your return. For full article click on the link: https://bit.ly/49E9mc0

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Explore our comprehensive guide to uncover common personal tax deductions and credits you might be missing. This guide provides strategies for managing your finances effectively, helping you make informed decisions to minimize your tax burden and maximize your tax savings. Click the link to learn more: https://lnkd.in/eWt9xKWy If you found this article informative, please like and share it.???? #EBOSCloudAccountants #TaxSavings #PersonalFinance #TaxTips #PersonalTax

Tax season is just around the corner. Here’s a look at what you need to know as you sort out your tax forms, organize your receipts, and get ready to file. https://trib.al/ncKmegk