Your Last-Minute Checklist: Tax Extension Deadline

If you’re feeling the pressure of the October 15th tax deadline creeping up, you’re not alone. Procrastination happens—whether it’s been a crazy quarter or you just couldn’t face your finances until now. But with a few key steps, you can still get everything in order and avoid penalties. Let’s dive into your last-minute checklist to get your books clean and your taxes filed on time.

The "Must-Do" Checklist Before October 15th

1. Sort and Categorize Outstanding Receipts and Invoices
   Start by quickly organizing any receipts and invoices you haven’t yet filed. If you’re using QuickBooks Online (QBO), the process is simple. With the QBO app, you can easily scan receipts and auto-categorize them right from your phone. 
2. Ensure All Income Sources Are Accurately Reported
   Double-check that you’ve accounted for all income streams. Whether it’s client payments, freelance work, or side hustles, every dollar should be reported. This will prevent any unpleasant surprises from the IRS.
3. Review Deductions to Maximize Your Savings
   Take time to review any eligible deductions. Business expenses, home office deductions, and vehicle mileage can help you reduce your taxable income. It’s worth going through your records to make sure you’re not missing out on any savings.
4. Simplify Your Process with Automation
   If you’re still manually categorizing transactions, you’re adding unnecessary stress. QuickBooks Online offers automation features that can help simplify your bookkeeping by automatically categorizing transactions.  
5. Get Help Now with a 20-Minute New Client Consultation
   If you’re overwhelmed or just need a second set of eyes, I offer a 20-minute new client consultation to help you sort out your last-minute tax prep. It’s a quick, personalized session that could save you from costly errors and missed deductions. 

And, if you want to make sure you don’t miss a thing, I have outlined a 9-step checklist on How to Get Your Books in Order for Your Tax Preparer. It covers everything you need to finalize your tax prep with ease. You can download it now and follow along step-by-step to ensure you’re 100% ready before October 15th. 

Conclusion

There’s still time to meet the tax deadline without losing your cool. Just follow these steps, leverage QBO’s automation features, and reach out if you need help cleaning up your books. October 15th will be here before you know it—so let’s get started now!