5 Last-Minute Tax Filing Tips: What You Can Still Do Before April 15th
The April 15th tax deadline is fast approaching, and if you haven’t filed your return yet, don’t panic—there’s still time to get everything in order. Whether you’re filing as an individual or a business owner, these last-minute tax tips can help you meet the deadline while maximizing deductions and avoiding common mistakes.
As a trusted Certified Public Accountant (CPA) firm, Smith Dickson CPA is here to guide you through these final weeks of tax season.
1. Gather & Double-Check Your Documents
Before filing, ensure you have all necessary financial records, including:
- W-2s and 1099s
- Mortgage interest statements
- Business income and expense records
- Retirement contributions and investment statements
Review these documents carefully to avoid costly errors or omissions. A Certified Public Accountant expert can help ensure accuracy and identify any potential red flags.
2. Maximize Last-Minute Deductions
Even at the last minute, there are still tax-saving opportunities, such as:
- Contributing to an IRA – You can make contributions for 2024 until April 15, 2025, and potentially reduce your taxable income.
- HSA Contributions – If you have a Health Savings Account, you can still contribute and deduct it from your 2024 taxes.
- Business Expense Deductions – Ensure all eligible business expenses are properly recorded to lower your taxable income.
- Consulting with a CPA firm can help you take full advantage of these deductions before the deadline.
3. Consider Filing an Extension (But Pay If You Owe)
If you’re running out of time, filing an extension can give you until October 15th to submit your individual tax returns. However, keep in mind:
- An extension only applies to filing, not payment—you still need to estimate and pay individual income taxes owed by April 15th to avoid penalties if you do not qualify for tax relief .
- Working with a Certified Public Accountant ensures you file your extension correctly while minimizing potential penalties.
4. Avoid Common Last-Minute Filing Mistakes
Rushing to meet the deadline can lead to errors. Watch out for:
- Incorrect Social Security numbers or misspelled names
- Math errors that could trigger IRS scrutiny
- Forgetting to sign or e-file your return
- Choosing the wrong filing status
A CPA firm can help review your return before submission to ensure accuracy and compliance.
5. Plan for Next Year Now
If tax season feels stressful this year, now is the time to get ahead for 2025. Consider:
- Keeping financial records organized year-round
- Adjusting tax withholdings or estimated payments
- Scheduling mid-year tax planning with a Certified Public Accountant firm
Need Help with Your Taxes? Contact Smith Dickson CPA
Whether you need last-minute filing assistance or long-term tax planning, our team of experienced CPA professionals is here to help. Don’t wait until the deadline—reach out today for expert guidance and peace of mind.