The deadline for on time tax filing s at hand.
If you need more time you can get an Automatic Extension. See https://www.irs.gov/forms-pubs/extension-of-time-to-file-your-tax-return
Remember, the tax owed is due on the 18th of April though your extension will give you 6 more months to actually file. You'll need to estimate your taxes due when applying for the extension.
It has been a busy tax season and now is the time to pay less for 2023. Review your W$ ensuring the amount withheld is appropriate. Some clients like getting refunds by over withholding. I try to discourage that as an interest free loan to the Treasury but it seems to be a forced savings approach. Others may inadvertently or not withhold too little and at year end must write a check. That can incur an underpayment penalty so be smart about it and know the safe harbors etc.
For any client who wants help reviewing their situation and planning ahead to lower taxation, I am always available to discuss and advise. Many deductions must be done in within or better yet at the beginning of each new tax year. When the year ends it's too late to implement most. The notable exception is that IRA contributions can be made for the previous year ended up to the tax deadline date. So for 2022 you have until April 18 2023 to contribute. Hey, that's today!
I wish to thank my clients for all of their efforts working with me as a team to trim their taxes and receive fair treatment from agencies that can at times be less than thoughtful.
Best to All,
Donn Marier
DM-Your Own CFO