It’s almost the end of the year and now is a good time to prepare for tax season in 2025. Easy Tax Service would like to remind you of important tax filing deadlines and documents needed to file your tax return:
- January 15, 2025 is the due date for the fourth quarter estimated tax payment.
- The document deadline for employers to send most key tax forms (W-2s and 1099s) to their employees is January 31, 2025.
- The federal tax filing deadline (Tax Day) is April 15, 2025.
- The federal tax extension deadline is October 15, 2025, if an extension has been filed by April 15, 2025.
The following are some tax tips:
- If you meet the age requirements, remember to take your required minimum distribution (RMD) for retirement accounts.
- Remember to contribute to tax-advantaged accounts like individual retirement accounts (IRA) and health savings accounts (HSA).
- If you are inclined to do so, make charitable contributions.
- Consider giving gifts to loved ones. IRS rules allow all individual taxpayers to gift up to $18,000 per recipient to as many people as you like (tax year 2024).
- If you itemize, organize receipts for out-of-pocket medical expenses.
- In most cases, you may deduct more medical expenses on your Arizona state tax return than you can deduct on your federal return, which may qualify you to itemize for Arizona.
- If you have a small business, organize receipts separately for business expenses.
- If you use a vehicle for business use, keep contemporaneous records of your business mileage and actual expenses.
Easy Tax Service in Prescott Valley can help if you have any questions about filing your taxes. Our tax preparers have over fifty years of combined experience preparing taxes. Easy Tax Service is open year-round and committed to providing high-quality tax preparation service at a price you can afford. Please give us a call at 928-775-7000 to schedule an appointment today.