Jared GoetzZenpire · CEO & Founder at Zendrop

Most people think filing a tax extension means you did something wrong...

16 May 2026 · 0 min

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In this brief tax‑advice clip, the speaker explains that filing a tax extension is not inherently a sign of error. He advises that most W‑2 employees without investment income should file their returns on time, while self‑employed individuals are encouraged to file an extension. The extension gives a CPA or tax professional extra time to uncover additional deductions, incorporate updated accounting information, or apply a K‑1 business loss to offset taxable income, ultimately reducing the tax bill.

Does it always make sense to file an extension for taxes? Most W-2 taxpayers that have no investments need to file on time. If you're self-employed, I would highly recommend that you go on extension. There's always certain deductions that you're leaving out that your CPA or your tax professional can find in the later months because your accounting got updated again. Or better yet, you might just have received a K-1 that's pulling in a business loss that you can use to offset your taxable income.