(607NewsNow) — March is here, and the clock is ticking on tax season. Whether you’re an individual or a business owner, this is the month to finalize those crucial last steps in your tax preparation. At Sprague & Jackson, we know how busy tax season can get, and we’re here to help you stay on track. This month’s tax tips focus on important deadlines, maximizing contributions, and what to do if you’re running out of time.

1. Max out your IRA and HSA contributions by April 15th

If you’re looking for ways to reduce your taxable income, maximizing your IRA and HSA contributions is a great strategy. The deadline to contribute for the 2023 tax year is April 15th, so now is the time to take action. Not sure if you qualify for these benefits? Work with Sprague & Jackson to check your eligibility and ensure you’re getting the most out of your contributions. An IRA can help boost your retirement savings, while an HSA offers tax advantages for healthcare costs—both are excellent ways to plan for the future while saving on taxes today.

2. Business extensions and sales tax filings

March is a crucial month for businesses, particularly for those handling sales tax filings. Make sure your sales tax figures are finalized and submitted on time to avoid penalties. If you’re not quite ready to file your tax return, don’t worry—businesses can file for an extension until September 15th. However, the sooner you start the process, the better.

3. Haven’t reached out yet? Now’s the time!

Here at Sprague & Jackson, we love working with clients throughout the year to create a solid tax plan. But we know some of you might still be scrambling to get everything in order. If you haven’t connected with us yet, it’s almost too late—but not quite! If you’re one of those last-minute filers, give us a call as soon as possible. Bring in everything you’ve got, and we’ll work through it together. We kindly ask for a little patience—we have a lot of paperwork to process, but we promise to get you the help you need, fast.

4. Be prepared for the future

Tax season is not just about filing for the past year—it’s also an opportunity to start planning for the future. If you’ve missed deadlines or feel overwhelmed, now is the perfect time to get organized. At Sprague & Jackson, we offer ongoing support for businesses and individuals, helping you stay ahead with planning, bookkeeping, and future tax strategies.

5. Final thoughts

March may feel like a stressful month for tax filers, but with the right planning, you can still make the most of your return. Whether you’re trying to max out your IRA or HSA contributions or rushing to file your sales tax figures, Sprague & Jackson is here to help. Don’t wait until it’s too late—reach out today, and let us guide you through these final steps with confidence.

For a more personalized tax consultation, reach out today to Sprague & Jackson. You can give us a call or visit www.sprjac.com for more information!