Tax Season Reminders

As we enter further into tax season, it’s time to ask yourself these questions:

For Business Owners:

• Are all my income and expenses entered and categorized for 2024?

• Have I reconciled my accounts (includes any payroll and loan balances)?

• Have I sent all required 1099s and W-2s?

• Have I organized additional tax info like my mileage log, home office deductions, retirement contributions, and estimated taxes paid?

For Individuals:

• Which tax documents am I still waiting to receive?
  PRO TIP: Use your accountant’s tax questionnaire to help you figure this out!

• Have I sent my tax accountant everything they need to file my tax return?

• Do I need to make any additional retirement contributions for 2024?

Communications Note

This is Financial Umbrella’s busiest time of year, and that can come with a slight delay in our normal response time. If you’re a current client, please use the secure messaging system in our client portal and we’ll get back to you within one business day.

If you’d like to become a client, please visit www.financialumbrella.co/start to fill out an intake form. This gathers everything we need to know ahead of time, so we respect each other’s time.

But don’t worry - we’re not going to ghost you! Stay connected with us:

• On social media through Instagram

• Schedule a call using our online scheduler (clients only)

• Any you’ll always find us in your inbox on the first of each month!

Due Date Reminders

While we’re at it, here’s your first preview of our tax filing deadlines for the 2024 tax season:

• Individuals, S Corps, and C Corps: We must have a completed questionnaire and all your tax documents by Friday, April 4, 2025 at 5pm EST to complete your returns without filing an extension.

• Partnerships: We must have a completed questionnaire and all your tax documents by Friday, March 7th, 2025 at 5pm EST to complete your returns without filing an extension.

• Nonprofits: We will communicate your deadlines as appropriate, since many of our nonprofit client’s fiscal years do not follow a calendar year and therefore have many different deadlines as far as tax filings go.

Referrals

Remember, Financial Umbrella can help individuals, service-based businesses, and nonprofit organizations with their tax filings each year! We also welcome your referrals!

As always, thank you for being a valued client and have a fantastic February! 💖