Now that the rush of tax season has passed, it’s easy to breathe a sigh of relief and tuck everything away until next year. But the truth is, the best time to get ahead on next year’s taxes… is right now.

Here’s how to stay one step ahead with just a little bit of organization and planning:

1. Create a Centralized System for Tax Documents

Whether digital or paper, having a designated place for tax-related documents throughout the year can make a big difference.

Pro tip: Set up a folder labeled “2025 Taxes” now and start dropping in things like:

• Donation receipts

• Medical expenses

• Investment summaries

• Business-related purchases

• Childcare or education costs

2. Review Your 2024 Return

Use your recently filed return as a roadmap. Look for:

• Deductions you might have missed

• Credits you qualified for

• Any surprises that might need adjusting in the coming year

A short conversation with your accountant now can lead to big savings later.

3. Adjust Withholding or Estimated Payments

If you owed more than expected or received a large refund, consider adjusting:

• W-4 withholding with your employer

• Quarterly estimated payments if you’re self-employed or have investment income

This helps you stay balanced throughout the year and avoid a year-end scramble.

4. Set Calendar Reminders for Key Dates

Don’t let tax-related deadlines sneak up on you. Set reminders for:

• Quarterly payments

• Retirement contribution cutoffs

• Business license renewals or compliance filings

Future-you will thank you.

5. Check in With Your Accountant (That’s Us!)

You don’t have to do it alone. We’re here to:

• Answer your planning questions

• Review your financial goals

• Help you stay proactive year-round

A little prep now = a lot less stress later.

Want to set up a mid-year planning session? Let’s talk—we’re just a call or click away.

The Summersgill CPA Team

Your financial partner beyond tax season