Lookout Outlook | April 2025 | Bookkeeping Newsletter
Published 2 days ago • 4 min read
Lookout Outlook | April 2025
No April Fools, Taxes Are Due!
It's officially coming down to the wire, Tax Day is on April 15th. Let's recap everything that’s due:
Individuals: Your Form 1040, or individual tax return, is due. You can file Form 4868 for an automatic 6-month extension to file your return, but your tax payment is still due on April 15th. Failing to pay your taxes owed by this date can result in penalties and interest.
If you’re required to pay estimated taxes, your first quarter 2025 estimated tax payment is due on April 15th.
Depending on your state, you may also have state tax payments due.
C Corporations: For calendar-year C corporations, Form 1120 is due along with the payment of any balance due. You can file Form 7004 for an automatic 6-month extension to file your return.
If your corporation is required to make estimated tax payments, your first quarter 2025 estimated tax payment is due on April 15th.
💡Bookkeeping isn’t just about tax prep—it’s about staying ahead year-round. Ever found yourself scrambling at tax time, trying to pull together all the documents your CPA suddenly needs? When you work with a bookkeeper (like me!), all of that is already handled. 📌I gather receipts (for your assets... not all of them), statements, and asset details throughout the year. 📌I keep your books clean, reconciled, and tax-ready. 📌I ask the questions before your tax preparer does—so when tax season rolls around, you’ve got everything at your fingertips. The difference between chaos and confidence at tax time? A proactive bookkeeper. Check out my latest blog to see how I make tax season easy for my clients! 🔗Read more here!
If you know someone who's starting their own business, please send them the link to register for my class "Start Smart: Essentials for Starting a Small Business."
This Month's Freebie!
If you’ve got burning home office questions like:
Can I deduct my new stand-up desk as a remote employee? And, what's not going to fly with the IRS when it comes to the home office deduction?
If you’ve made it this far, I want to take this time to say THANK YOU for:
Your patience with my email response times
Referring your friends and family to us
Leaving testimonials on your experience with Lookout Bookkeeping
Making a tough time of year totally worth all the long hours
I'm forever grateful for your support of my small business, thank YOU for making all of this possible. Here's to finishing tax season strong, and finally getting to my self-care plans, retail therapy, and visiting my mom and sisters in Minnesota!
Vendor Spotlight – Relay Financial
Are you looking for a banking solution? I've got one for you!
Relay is an all-in-one business banking and money management platform to help small businesses understand what they’re earning, spending, and saving—so they can make the best financial choices for their business. With Relay, business owners can:
Bank with no account fees, no overdraft fees, and no minimum balance required
Organize expenses and cash reserves using up to 20 individual accounts
Earn barrier free savings between 1-3% APY
Issue up to 50 virtual or physical Visa® debit cards to meticulously organize spending by team or project
Send payments and deposits via ACH, wires, or checks
Cashflow automations, like maximum balance transfer rules and recurring payments
Give team members and financial advisors secure, role-based banking access
Integrate banking with accounting software like QuickBooks Online and Xero
Get personalized customer support by email and phone
And, my favorite feature from Relay - automated Profit First transfers! Read more here.
Getting started with Relay couldn't be more simple - just click this link - the application process takes 10 minutes or less!
The Fine Print: Relay is a financial technology company, not a bank. Banking services and FDIC insurance are provided through Thread Bank, Member FDIC. The Relay Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® debit cards are accepted.
Looking for a DIY Solution?
Look no further than our Small Business Bookkeeping Tracker! For the start-up side gig who just has a few transactions a month, this tracker will be your BFF for tax filing. You can enter your transactions each month and this tracker will produce monthly and annual reports. The best solution for any business until you need to partner with a bookkeeper to provide done for you services.
$97.00
Small Business Bookkeeping Tracker | Lookout Bookkeeping
This Small Business Bookkeeping Tracker in Google Sheets helps you keep track of your business income, expenses and... Read more
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....
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...
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...
