4 Ways to Tame Your Tax Bill

It’s that time of year again when the tax man is knocking at the door.  Are you ready?

Over the next seven days I will be sharing with you “4 Ways to Tame Your Tax Bill” so you can keep more of the money you are making.

Here is what we will be covering:

1. File on Time: Three tips for “kicking procrastination” to the curb.
2. Know Your Deductions: What money are you leaving on the table?
3. The $30K tax saving tip you need to know about.
4. Investing as a Tax Strategy

This week we will share with you the required deadlines.  There is nothing more frustrating that paying penalties and interest because of missing a deadline.

Here are some important 2018 dates for filing your 2017 tax returns

Jan 31: All W2 and 1099 forms were required to be in the mail.  If you are still waiting for one be sure to check in with the sender.

March 15:  All S Corporations and Partnerships are required to file their tax returns or an extension

April 17:  Deadline for filing all personal, C Corporation with a Dec 31 yearend or calendar year estates/trusts tax returns or an extension.

• If you owe taxes: To avoid late payment penalties and interest, any additional taxes you owe must be paid by this date even if you filed an extension.

May 15: Deadline for all exempt organizations with a Dec 31 year end to file their return or an extension

September 17:  Final deadline to file your S corporation or partnership tax return if you filed an extension.

October 1: Final deadline to file your calendar-year estate/trust tax return if you filed an extension.

October 15: Final deadline to file your personal and C Corporation with a Dec 31 yearend tax return if you filed an extension.

November 15:  Final deadline for all exempt organizations with a Dec 31 year end who filed an extension

For C Corporations with a fiscal year end a tax return or an extension is to be filed by the 15th of the 4th month after the fiscal year ends.  If an extension is filed the return must be filed by the 15th of the 10th month after the fiscal year ends, with the exception of a Fiscal Year End of June.

Fiscal Year End:

Mar 30 File July 15th Extension Jan 15th

June 30 File Sept 15th Extension April 15th

Sept 30 File Jan 15th Extension July 15th

Be sure to find your dates and mark your calendar.  Then be in touch with your tax advisor and discuss what needs to be in place for you to be ready!

The CFO Agency is happy to announce we are now offering Tax Preparation Services!  We are saving most of our clients filing costs!  If you would like to explore if we are a good fit for you simply comment below!