Ask Angie: Last call for tax preparations – March tax tips

(607newsnow) – March is here and the clock ticks in the tax season. Regardless of whether you are a person or a business owner, this is the month in which these decisive last steps are completed in your tax preparation. At Sprague & Jackson we know how busy the tax season can be, and we are here to help you stay on the right track. The tax tips of this month focus on important deadlines, maximize contributions and what to do if time is no longer possible.

1. Max your Ira- and HSA contributions until April 15th

If you are looking for ways to reduce your taxable income, maximizing your IRA and HSA contributions is a great strategy. The deadline for the tax year 2023 is April 15th. Now it is time to take measures. Are you not sure if you qualify for these advantages? Work with Sprague & Jackson to check your authorization and ensure that you use your contributions optimally. An IRA can help increase your retirement provision, while HSA offers tax advantages for health costs.

2. Business extensions and sales tax applications

March is a crucial month for companies, especially for those who handle sales tax applications. Make sure that your VAT figures are completed and presented in good time to avoid penalties. If you are not entirely willing to submit your tax return, don't worry that an extension can be submitted in operation by September 15th. The earlier you start the process, the better.

3. Have you not yet come? Now the time is!

Here at Sprague & Jackson we love to work with customers all year round to create a solid tax plan. But we know that some of them still try to get everything in order. If you haven't connected to us yet, it's almost too late – but not quite! If you are one of these last minute filers, call us as soon as possible. Bring everything you have and we will work through it together. We kindly ask for a little patience – we have a lot of paperwork, but we promise to quickly bring you the help you need.

4. Be prepared for the future

It's not just about taking the past year, but also the opportunity to plan the future. If you have missed deadlines or feel overwhelmed, the perfect time is now to be able to organize. At Sprague & Jackson, we offer companies and individuals continuous support and help you to further develop planning, accounting and future tax strategies.

5. Last thoughts

March may feel like a stressful month for tax filters, but with the right planning you can still make the best out of your return. Regardless of whether you are trying to maximize your IRA or HSA contributions or submit your sales tax figures, Sprague & Jackson is here to help. Do not wait until it is too late – divide it today and let yourself be confidently guided through these last steps.

Still contact Sprague & Jackson today to get more personal tax advice. You can call us or visit www.sprjac.com to get more information!