Are You Ready For The Next Tax Deadline?

The Tax Deadline Extension Has Expired

The tax deadline extension was October 15. Now that the time has passed, everyone should hopefully have their taxes done. Those of us in the clear are breathing a sigh of relief knowing that we have six months before the next major tax deadline. Why wait, though? Six months isn’t that big of a time frame and you’ll be stressing about it soon enough.

Unless you get ahead!

4 Reasons To Get Ahead of Your Tax Deadlines

1. Avoid Stress

This is the big one. Taxes are stressful. Do them wrong and you face the wrath of the IRS – its slow, implacable, anal-retentive wrath. There’s always so much to deal with and so much worry. There doesn’t have to be, though. If you work on your taxes ahead of time, you can spread the amount of work out over a longer period of time. Instead of doing all your taxes at the last moment before they need to be turned in, do your taxes on a quarterly basis. That way, you get a little bit done over the whole year and aren’t rushing to get it done at the end.

2. More Time to Find Deductions

Another problem with doing your taxes in a rush before the deadline is you don’t have time to really look at everything. When you’re in a hurry, you’ll end up missing deductions you can declare. You’d be surprised how many deductions you qualify for that you miss because you didn’t have time to look into it. If you do your taxes ahead of time, you can spend the extra time before the tax deadline finding those deductions and save more money for yourself.

3. Get Your Tax Refund Sooner

Tax refunds can be a real break when you need it. A little bit of extra money coming back to you can solve any number of financial problems you might be dealing with. But you can’t get a refund until your taxes have been filed. So, the sooner you get your taxes filed, the sooner you can get some money back when you’re owed it.

4. Avoid Tax Fraud

There are many different kinds of fraud. One of the more distressing is when someone gets a hold of your financial information, uses it to file fraudulent taxes in your name and steal your tax refund. If you file your taxes ahead of time, however, that’s no longer a problem. You can’t file your taxes more than once, so if you’ve already filed and someone else tries to file it fraudulently, the IRS software will reject their filing. It gives you an extra layer of financial protection.

Get Ahead of the Tax Deadline Now

If you haven’t been doing your taxes quarterly, now’s a good time to get in the habit. You’ve got six months before the April deadline next year. Instead of waiting until the last minute, start today. Get a hold of your financial advisors and accountants and start prepping for an early submission. Don’t have an accountant? Why not call us? We’re ready to help you with all your tax needs! Get in touch today and see how we can save you time, money, and sanity!