New Year-New Tax Season: How to Prepare and File with Confidence

As we welcome a new year, it also means the start of a fresh new tax season. For many individual and small business owners, tax time can feel overwhelming. It doesn’t have to be with a little preparation and the right guidance.

It is important to remember tax season is not just about filing a return—it’s about setting yourself up for financial clarity, compliance, and peace of mind for the year ahead. Below we have put together some helpful tips to get you tax-ready and a reminder of important filing deadlines you don’t want to miss.

Tips to Prepare for a Smooth Tax Season

1. Gather Your Documents Early

Organization is the key to saving time, less stress and prevention of delays.

Common documents include:

• W-2s and 1099s

• Social Security statements (SSA-1099)

• Interest and dividend statements (1099-INT, 1099-DIV)

• Mortgage interest and property tax statements (Form 1098)

• Childcare, education, and medical expense records

• Prior-year tax return

For business owners:

• Income and expense records

• Mileage logs

• Payroll reports

• 1099s issued to contractors

• Balance sheet and profit & loss statements

2. Report All Income

All income must be reported, even income earned and not reported on a tax form.

Side jobs, gig work, cash payments, and online sales are commonly overlooked and can lead to IRS notices if missed.

3. Review Life Changes

Major life events can significantly impact your taxes.

Be sure to let your tax professional know if you:

• Got married or divorced

• Had a child

• Bought or sold a home

• Started or closed a business

• Retired or changed jobs

These changes may affect your filing status, deductions, and credits.

4. Don’t Wait Until the Last Minute

Having your returns prepared and filed early can help:

• Reduce identity theft risk

• Speed up refunds

• Allow time to fix issues

• Avoid last-minute stress

If you need more time, extensions are available—but remember, an extension to file is not an

extension to pay.

Important Tax Filing Deadlines

Individual Tax filing deadlines

• April 15 – Deadline to file Form 1040 or request an extension

• October 15 – Extended filing deadline (if extension was filed)

Business Tax filing deadlines

• March 15 – S Corporations (Form 1120-S) and Partnerships (Form 1065)

• April 15 – Single-member LLCs and sole proprietors (Schedule C with Form 1040)

• April 15 – C Corporations (Form 1120)

• September 15 – Extended deadline for S Corps and Partnerships

• October 15 – Extended deadline for individuals and some businesses

This Tax Season has BIG tax laws changes. Every individual, family and/or business’ financial

situation is unique. That is why it is super important to get started early. Tax Pros, like AM

Income Tax, are ready to guide you every step of the way.

Here’s to a successful, stress-free tax season and a prosperous new year for you and yours!