Most people don’t start thinking about their taxes until April. Many businesses have to deal with them year-round, but even then, their tax burden may not get as much attention as it probably needs. With the start of the new year, now is the time to start preparing your taxes. There are several reasons to do this, six of which we’ll discuss here.
1. Get Refunds Sooner
One of the most attractive benefits of filing taxes promptly is that you get your refund sooner. If you overpaid over the course of the last year, you’ll be due a refund, and that extra cash can be very helpful if business has slowed down after the holiday season. If you make estimated payments throughout the year, that extra windfall can be put toward this year’s taxes, diminishing your overall financial burden.