Monthly
Newsletter
Business, Bookkeeping, and Taxes
Key Actions
As March wraps up and tax season is almost behind us, this is a critical checkpoint for your business. Before you shift fully into Q2, here are key actions to take now:
- Gather all tax documents including 1099s, W 2s, prior year return, quarterly estimated payment confirmations, bank and credit card statements, payroll reports, mortgage interest statements, and records of major purchases or charitable contributions
- Confirm your tax return is accurate or file an extension if needed
- Reconcile all bank and credit card accounts
- Adjust estimated tax payments if income has changed
- Review your Q1 profit and cash flow
- Set aside funds for taxes and build your cash reserve
- Schedule a proactive tax planning meeting for the rest of the year
Upcoming Tax Deadlines - March 16, 2026
- Deadline for S-corporations and Partnerships (Form 1065) to file 2025 returns
- April 15, 2026
- Deadline to file 2025 federal income tax returns, pay any tax owed
- Last day to contribute to IRAs/HSAs for the 2025 tax year
- Deadline for C-corporations (Form 1120) to file 2025 returns
- First estimated tax payment due for 2026. This first payment applies to income earned from January 1 through March 31, 2026.
- Deadline to file an extension, if needed by submitting Form 4868 to the IRS. You must estimate your tax liability and pay any amount owed by the original deadline. An extension gives you more time to file, not more time to pay.
Final Thoughts from the Founder - March is more than just the end of Q1. It is a reset moment. Tax season forces you to look at your numbers. Use that clarity. What worked in Q1? What did not? Where did cash feel tight? Where were you profitable? As you move into Q2, focus on clean books, consistent reporting, and proactive planning. That is how you reduce stress, protect profit, and grow with confidence.
- Now is the time to close out last year’s books, finalize your tax planning strategies, and get your return filed before the deadline.
- If you have questions, please do not hesitate to reach out. This is a busy time for both business owners and accountants, so we encourage you to schedule your time now if you need support.
#HOUSTONBOOKKEEPER #TEXASBOOKKEEPER