Year-round tax strategies that help you avoid surprises at tax time, make smarter decisions for your business and stay compliant with the IRS and Illinois.
Your tax return reports what already happened. Tax planning happens during the year, while there is still time to act: when to buy equipment, how to pay yourself, how much to set aside for taxes and which business structure fits you best.
With a plan in place, there are fewer surprises in April, better cash flow during the year, and decisions backed by numbers instead of guesses.
If you are self-employed or have income without withholding, the IRS expects tax payments during the year.
| Payment | Covers income earned | Due date |
|---|---|---|
| 1st quarter | January 1 – March 31 | April 15 |
| 2nd quarter | April 1 – May 31 | June 15 |
| 3rd quarter | June 1 – August 31 | September 15 |
| 4th quarter | September 1 – December 31 | January 15 |
No. Families, self-employed workers and anyone with a major life change can benefit from planning.
As early in the year as possible. Many strategies must be in place before December 31 to count for that year.
Don't ignore it. Most notices have a response deadline. Bring it to us and we'll explain your options.
It depends on your profit, salary and goals. We run the numbers with you before you make the election.
This page provides general information and is not legal or tax advice for your specific situation. Requirements can change; we confirm current IRS and Illinois rules during your consultation.
Start with a planning consultation and leave with a clear strategy for the year.