Last-Minute Tax Tips: What You Can (and Should) Do Before April 15

 


As April 15 quickly approaches, many individuals and small business owners find themselves scrambling to get their taxes in order. Whether you're filing on time or need to request an extension, there's still time to make smart financial decisions. Here are some practical last-minute tax tips to help you stay ahead of the deadline and avoid costly penalties.

1. File or Extend — Don’t Ignore the Deadline

The worst thing you can do is do nothing. If you're not ready to file your tax return by April 15, make sure to file an extension. This gives you until October 15 to submit your return, but remember: an extension to file is not an extension to pay. You still need to estimate and pay any taxes owed by April 15 to avoid interest and penalties.

You can file for an extension online using IRS Form 4868 or through most tax software platforms. If you need help with this, please contact our office at info@jswhitecpas.com or 630-519-4427.

2. Double-Check Common Deductions

Even if you’re short on time, don’t skip potential deductions. Some valuable deductions and contributions you can still make before the deadline include:

  • 🏦 IRA Contributions: You can contribute to a traditional or Roth IRA for the prior tax year up until April 15.

  • 💳 HSA Contributions: Health Savings Account contributions can also be made up to the deadline and may reduce your taxable income.

  • 🧾 Self-Employed Business Expenses: Make sure to include home office costs, mileage, software subscriptions, and other legitimate expenses.

These deductions can make a meaningful difference in your tax liability.

3. Make a Payment to Avoid Penalties

If you think you owe taxes but aren’t ready to file, make an estimated payment with your extension. This can reduce or eliminate penalties and interest. The IRS allows you to pay directly through their website or by mailing a check with your extension form.

4. Don’t Panic — But Don’t Procrastinate

Last-minute filings are more common than you think. You’re not alone, and it’s not too late to get organized. Gather your W-2s, 1099s, and other key documents, and reach out to your tax professional for help. If you're unsure where to start, a quick consultation can make all the difference.

5. Small Business Reminders

If you’re a small business owner, make sure you’ve:

  • 📄 Collected all 1099s and Schedule K-1s

  • 🏢 Accounted for depreciation on assets

  • 📊 Reviewed Qualified Business Income (QBI) deductions

These items can significantly impact your tax return and are often overlooked in the rush.

6. Next Year Starts Now

Once you file, take a breath — but don’t forget to plan ahead. The best way to reduce stress and lower your tax bill is to start early. Set up a time to review your financials, adjust your withholdings, or explore quarterly estimated payments for the coming year.

Need Help Before April 15?

We’re here to support individuals and small businesses with last-minute tax needs and ongoing planning. Contact us today to schedule a consultation or get help filing an extension. Already filed? Let’s talk about strategies to make next tax season even easier.

Stay calm, stay compliant, and don’t go it alone — J.S. White & Associates, LLC is just a phone call or email away! Contact us at 630-519-4427 or info@jswhitecpas.com.


Location: Lombard, IL, USA

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