Tax Tip: Don’t Wait Until the Last Minute to File Your Return

March 15, 2008

Here are some good reasons not to procrastinate any longer in the filing of your 2007 tax return.

1) Get Your Refund on the Way. If you are entitled to a refund, why not get the ball rolling? The government is not going to pay you interest, so why are you giving them an interest free loan?

2) Plan For Your Payment. Even if you own taxes, you can go ahead and file your return now so that you can prepare for the amount you have to pay. Regardless of the date you file the return, the actual cash payment is still due April 15th.

3) Contribute your refund to your IRA. If you are able to make a contribution to a traditional IRA, you have until April 15th to make that contribution. You can file your taxes early, you may receive your refund (if you are due a refund) in time to help fund your IRA.

4) Plan Your 2008 Estimated Tax Requirements If you are one of the lucky individuals that is required to submit estimated tax payments to the IRS, you will know the amount of your required payment to that you can plan for it. It is due on April 15th!

Donna Bordeaux, CPA with Calculated Moves

Creativity and CPAs don’t generally go together.  Most people think of CPAs as nerdy accountants who can’t talk with people.  Well, it’s time to break that stereotype.  Lively, friendly and knowledgeable can be a part of your relationship with your CPA as demonstrated by Donna and Chad Bordeaux.  They have over 50 years of combined experience as entrepreneurial CPAs.  They’ve owned businesses and helped business owners exceed their wildest dreams.   They have been able to help businesses earn many times more profit than the average business in the same industry and are passionate about helping industries that help families build great memories.