October 15 is the deadline to file extended tax returns from the prior year. Donna Genie warns that filing on time isn't the real problem: not knowing your tax liability in advance causes stress, penalties, and interest charges starting April 15. Year-round tax planning lets you know what you owe early and keeps more cash in your business.
Foreign the end of the tax world is coming. October 15th is just around the corner and that is the last day on all extensions for filing for the prior year. So do you know where your taxes are? There are many folks out there who still don't have their tax returns filed. Now, I don't necessarily have a problem with that, but what I have a problem with, and you should too, is not knowing how much you owe. We are now going into ten and a half months into the year and they can't figure out what happened last year. That seems a bit harsh. Either you've been put to the bottom of the totem pole or your information is a mess. I don't know. But filing October 15th is not an issue. But not knowing how much you owe until then is causing you a lot of stress. It's also causing you to pay penalties and interest all the way from April 15th moving forward and sometimes prior to that, if you should have paid some of that in estimated payments. If you're tired of this process and you should be, it doesn't need to be the norm that it's becoming. There is a better way. Learn how you can know how much you owe all throughout the year. Our clients already know how much they owe for 2022, so they're over a full year in advance of where you're at. If you're awaiting that final bill for your 2021 tax returns right now, we are happy to help you get into a better routine where you are looking out the front window instead of driving with your vision in the rearview mirror and wondering what that surprise number will be for you. I'd be happy to talk with you about a better way to solve that problem. Check out our Uncle Sam strategy to help you move into the new century and be forward facing and working with a proactive accountant who can help you all throughout the year and help you take advantage of tax strategies to minimize that tax liability while growing your business and even finding the money to help you grow it by minimizing your tax liability. Reach out if you have questions or concerns. We'd be happy to talk with you. Thanks. Please follow us on Facebook and Instagram. Please make sure to check out our blog and our website linked below. Subscribe to our YouTube channel and hit the bell to be notified when we post. Email me at donna@calculatedmoves.com.
