We are down to the wire on the 2024 tax season, folks. While mentioning taxes might send a shiver down your spine, consider this your navigational chart through the tax deadline waters. I am here to remind you of these critical dates and empower you with knowledge and strategies to tackle this tax season head-on, ensuring you save time, reduce stress, and possibly even your tax bill.

Understanding deadlines

If you have not put a plan in place to hit these deadlines, this is your sign.

• March 15, 2024: A crucial date for partners and S corporation shareholders. It is the deadline for filing your 2023 returns (Forms 1065 and 1120-S). If you are not ready, don't panic—this is also the deadline to file for an extension, giving you until September 15, 2024.

• April 18, 2024: The big one for individual taxpayers and C corporations. File your 2023 income tax returns (Form 1040 for individuals and Form 1120 for C corporations) by this date. Need more time? This is also the deadline to request a six-month extension, pushing your due date to October 16, 2024, for individuals.

Why this matters

These deadlines aren't just arbitrarily picked. Since individual tax returns encompass a single year, Congress set a deadline in the spring so people would have time to get a complete account for all the income, deductions, and credits needed for the previous year.

Penalties and interest will be involved if you don't file within their deadline or request an extension. We know you don't want to give away more of your income than you have to, so we often help our clients proactively approach taxes by scheduling strategic planning meetings throughout the year. These help us stay on track and uncover opportunities to optimize your tax situation.

Embracing the process

I understand that taxes can be overwhelming, but I see this process as an art form. Like painting on a blank canvas, we use the tax laws to create a picture that aligns with your personal and business goals. Each brushstroke, whether a deduction, credit, or strategic decision, brings us closer to the masterpiece we envision.

Navigating tax season is a journey best undertaken with a trusted guide. My team and I are here to be that for you, asking the right questions and offering clear, understandable advice tailored to your unique situation. Our goal is not just to help you meet these deadlines but to ensure that our path aligns with your broader financial and life goals.

If you're struggling with following the steps, reach out. Our team would love to help you.

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