Lookout Outlook | March 2025 Are you suffering from tax-iety? The upcoming March and April tax deadlines have everyone feeling a little nervous... What happens if you can’t get all your documents together and get everything filed on time? Easy answer—you just extend your tax return! While the form you’ll file for an automatic extension changes depending on which type of tax return you’re extending, the process is pretty much the same. You can file electronically or mail your extension form....
about 2 months ago • 4 min read
Lookout Outlook | February 2025 Roses are Red, Violets are Blue… There are only 68 more days until your individual taxes are due! It's time to ask yourself these questions: FOR BUSINESS OWNERS: Are all my income and expenses entered and categorized for 2024? Have I reconciled my accounts (including any payroll and loan balances)? Have I sent all required 1099s and W-2s? Have I organized additional tax info, including my mileage log, home office deductions, retirement contributions, and...
3 months ago • 4 min read
Lookout Outlook | January 2025 Cheers to a stress-free tax season! Happy 2025! To celebrate the new year, I’m gifting you a personalized New Year’s resolution: Never miss a tax deadline in 2025! Let’s start with what’s due this month: January 15th: The final installment of your 2024 estimated tax (Form 1040-ES) is due. January 31st: Employers must file W-2s and send a copy to each employee. Form(s) 1099-NEC must be filed and a copy sent to recipients. Form 940 (Federal Unemployment Tax, for...
4 months ago • 4 min read
Bookkeeping Newsletter | December 2024 Wrapping up 2024... Whew, what a year! You’re in for a treat today, I’m letting you in on a little behind-the-scenes action of what we we're up to at Lookout Bookkeeping in 2024. Here are the greatest hits from our official Spotify Wrapped: Lookout Bookkeeping Edition! In 2024, Lookout Bookkeeping: Served over 70 clients. Most popular genre (a.k.a industry) was home service providers. Most played songs during work hours was definitely anything from Max...
5 months ago • 5 min read
Bookkeeping Newsletter | October 2024 Here’s what you need to do this month for your taxes: If You Extended: File extended individual tax returns (Form 1040) File extended corporate tax returns (Form 1120) Prepare for next year so you don't have to file an extension To Prepare for 2024 Filing: EOY tax planning with your professional Start planning any EOY charitable donations Collect W-9s from all contractors What happens if I just don’t file? Failure To File Penalty: If you haven’t filed...
7 months ago • 4 min read
Bookkeeping Newsletter | September 2024 Ready to tackle your extended tax returns? September means the kids are settling back into school, football season is kicking off, and you’ve got some pretty important tax deadlines coming up! Let’s go over what’s due on September 16th: Partnership and S Corporation tax returns: If you extended your Form 1065 or Form 1120-2, your tax return is due. Third quarter estimated tax payments: Individuals and corporations need to make their third quarter...
8 months ago • 3 min read
Bookkeeping Newsletter | August 2024 TTYL, Summer! It’s super depressing that summer’s coming to an end (but maybe not so sad that the kids are going back to school!). If you’re anything like me, you’re already looking forward to the extra time to plan your fall marketing campaign. Here are some marketing expenses your business might be able to deduct: Marketing Write-Offs Facebook/Google Ads Branding Photoshoot Copywriting Services Website Design Branded Merchandise Event Sponsorships...
9 months ago • 3 min read
Bookkeeping Newsletter | June 2024 Father’s Day is just around the corner... And if your dad is anything like mine, he’s known for manning the grill every weekend in the summer, killing any bugs you’re too scared to touch, and teaching invaluable life lessons, like how to change a flat tire. But, as much as we look up to them, there’s one thing dads are are notorious for having: a boring, old bookkeeper. Here’s why I’m NOT like your dad’s bookkeeper: I can work with you WHEREVER you are. Say...
11 months ago • 3 min read
Bookkeeping Newsletter | May 2024 It's gonna be an a-MAY-zing month! I hope you found some great ways to support small businesses on Small Business Saturday this past weekend! My mission is to put order to chaos when it comes to the finances of business owners, and I want to take a moment to highlight some of the ways I love to do that: SERVICE NUMBER ONE | HISTORIC BOOKKEEPING This one-time service is to get your bookkeeping up to date from your last tax filing. We will "recreate" your books...
12 months ago • 2 min read