(607NewsNow) — As September rolls in, it’s time for business owners to focus on their tax returns, particularly with the deadline looming on September 15th. This month, we’ll discuss the importance of preparation, reconnecting with your tax advisor, and navigating the upcoming changes in tax law.
Business Returns Due September 15th
For many businesses, September 15th marks a critical deadline for filing tax returns. It’s crucial to have your financial documents organized and ready for submission. Whether you’re filing for a partnership, S-corporation, or LLC, being prepared can help prevent last-minute stress and ensure compliance with IRS regulations. If you haven’t done so already, set aside time this month to gather your financial statements, receipts, and other necessary documentation to streamline the filing process.
Reconnect with Your Tax Advisor
This is also an excellent time to reconnect with your tax advisor. Setting a date to meet can help ensure that you’re not only meeting deadlines but also strategizing for the future. A proactive approach to your tax planning can help identify opportunities for savings and improvements in your financial strategy. Whether it’s a phone call or an in-person meeting, don’t hesitate to reach out.
Navigating Changes in Tax Law
As we look ahead, it’s essential to recognize that political changes can significantly impact tax laws. The Tax Cuts and Jobs Act of 2017, which introduced numerous benefits for businesses, is set to expire in 2025. This means that as we move forward, we’re entering a new landscape of tax code that could change how businesses operate and report their income. As soon as we know what the new laws will entail, it’s vital to consult with us to prepare effectively for the upcoming changes.
Planning and Care
At Sprague & Jackson, we are committed to providing personalized service tailored to your needs. Our client-oriented approach ensures that we take the time to understand your business and its unique challenges. With a focus on planning and care, we aim to equip you with the knowledge and tools to navigate the complexities of the tax code confidently.
Take Action Today
Don’t wait until the last minute! September is the perfect time to prepare for your business returns and assess your tax strategy for the coming years. Reach out to us at Sprague & Jackson, and together we can tackle the upcoming changes and ensure your business is ready for whatever lies ahead.
For a more personalized tax consultation, reach out today to Sprague & Jackson. You can give us a call or visit www.sprjac.com for more information!
