FOR INDIVIDUALS
A large refund means you overpaid throughout the year — that money could have been in your pocket. Revisit your W-4 withholding. If you owed at filing and skipped estimated payments, underpayment penalties accumulate quarterly. Get ahead of them now.
- Adjust withholding if income or life circumstances changed
- Max out IRA or 401(k) contributions
- Consider tax-loss harvesting before year-end
- Keep returns and documents for at least three years
FOR SMALL BUSINESS OWNERS
Filing is the starting line, not the finish. If tax season felt chaotic, that’s a bookkeeping problem — fix it now before the year gets away from you. S Corp Owners: The IRS requires a reasonable salary before distributions.
Taking little or no salary while drawing large distributions is a red flag that riggers audits. If this applies, the time to correct it is now — not December.
Estimated taxes: Q1 due April 15 · Q2 due June 16 · Q3 due Sept 15 · Q4 due Jan 15
Entity structure: The structure that made sense at launch may be costing you money today. A quick consultation can reveal whether a change makes sense.
FOR NONPROFITS
Tax-exempt does not mean tax-free from scrutiny. Form 990 is a public document — donors and grantors read it. Accurate books make the filing process smoother and ensure your financial story reflects your mission.
• Calendar-year 990 due May 15
• Review board governance policies — the 990 asks
• Unrelated business income (UBI) may be taxable
• Confirm gift acknowledgment letters were issued
FOR CORPORATIONS
Post-filing is the right time to revisit your tax position strategically. Bonus depreciation, Section 179 expensing, and cost segregation can accelerate deductions — but those decisions require planning now, not next fall.
Closely held C Corps should document compensation decisions carefully. The IRS will challenge deductions that appear to be structured to avoid double taxation on dividends.
If lenders or investors require compiled or audited financials, line that up now— not when you’re against a deadline.
Haven’t Filed Yet? We Can Still Get You Taken Care Of.
Don’t panic — and don’t wait. An extension stops the failure-to-file penalty immediately, but remember: an extension of time to file is not an extension of time to pay. Any balance owed is still due by the original deadline. We work with individuals, businesses, nonprofits, and corporations at every stage — including extended and late filers. Reach out and we’ll get it sorted.
Ready to Get Started?
Schedule: calendly.com/sbinkley-
