With tax season officially underway, you want to make filing your return as stress-free as possible. This is even more important with recent tax law changes, including the tax-free tips and overtime benefits. Here are seven ideas to get organized for filing your 2025 tax return.

Ideas to get organized for tax season

1. Create an April 15th reminder. This is the deadline for filing your 2025 individual income tax return, completing gift tax returns, making contributions to a Roth or traditional IRA for 2025, and paying the first installment of 2026 individual estimated taxes.
2. Know the deadlines for business returns. If you are a member of a partnership or a shareholder in an S corporation, the deadline to file business returns for these entities is March 16th. Calendar-year C corporation tax returns are due by April 15th.
3. Gather your tax information for filing. Items you’ll need include K-1s, W-2s, 1099s, and other forms you receive from your business, employers, brokers, banks, and others. If you find any errors, contact the issuer immediately to request a corrected copy. And if you have tip or overtime income, you must break this income out to take advantage of tax-free savings. It will not appear separately on your W-2.
4. Organize your records. Once you’ve started gathering your information, find a place in your house to put all the documents as you receive them, or consider scanning them to store on your computer. You can also take pictures of the documents with your phone as backup. Missing information is one of the biggest reasons for delays.
5. Review your child’s income. Your child might need to file a 2025 income tax return. A 2025 return is generally required if your child has earned more than $15,750 or has investment income, such as dividends, interest, or capital gains that total more than $1,350.
6. Calculate your estimated tax if you need to extend. If you file an extension, you’ll want to do a quick calculation to estimate your 2025 tax liability. If you owe Uncle Sam any money, you’ll need to write a check by April 15th, even if you do extend.
7. Contribute to your IRA and HSA. You can still make 2025 IRA and HSA contributions through either April 15th or when you file your tax return, whichever date is earlier. The maximum IRA contribution for 2025 is $7,000 ($8,000 if age 50 or older). The maximum HSA contribution is $4,300 for single taxpayers and $8,550 for families.

Your to-do list

Begin tax filing for 2025

• Organize tax documents (W-2s, 1099s, 1098s and other records)
• Schedule a tax appointment for document drop-off or a meeting

Begin tax planning for 2026

• Create a budget
• Adjust your withholdings
• Rebalance investment portfolios

Contact our RRBB advisors if you have any questions or if you’re ready to start filing.