Year end & tax season
Year End Through Tax Season, in Order
What to handle before the year closes, what comes after it, and the page that covers each step in full. For individuals and business owners in Easley, Greenville and across South Carolina.
Six steps, in calendar order
Filing dates move from year to year, so this page does not list them. South Carolina tax deadlines explains how the calendar works, and the refund advance page shows when applications open.
Catch up the books
Planning and filing both depend on books that are current. If yours have fallen behind, by months or by years, we reconstruct the period from bank and card statements, reconcile it, and keep it current from there.
Ask about this: Catch up the booksReview the year while it can still change
Tax planning looks ahead to decisions that still affect this year’s return: entity structure, retirement contributions, and the timing of income, deductions and larger purchases. Once the year is over, those decisions are already made.
Ask about this: Review the year while it can still changeSettle the final estimated payment
If nothing is withheld from your income, tax is normally paid in instalments through the year. Skipping one does not defer the tax, it adds penalties on top of it. The calculator works out the instalment and where the safe harbours sit for you.
Ask about this: Settle the final estimated paymentGet W-2s and 1099s out
For payroll clients, year-end W-2 and 1099 forms are part of the service, prepared and delivered to your employees and contractors. They have to agree with the payroll filings made during the year, which is why they are handled together.
Ask about this: Get W-2s and 1099s outGather documents, then file
A complete set of documents is the difference between one appointment and three. If you are thinking about a refund advance, the refund advance page explains how it works and shows when applications open.
Ask about this: Gather documents, then fileRead the IRS notice before reacting
Most IRS letters are not audits. We read the notice, tell you what it is asking for, and gather the records and prepare the response or returns it needs. Where a matter requires professional representation, that is handled by the independent licensed CPA we work with, with our office coordinating.
Ask about this: Read the IRS notice before reacting
Not sure which of these applies?
Book a consultation and we’ll work through it with you, in the Easley office or virtually. Or send a short note about your situation and we’ll come back to you with a straight answer.
Not sure which option is best for you?
Reach out to Elite Pro-Tax & Financial Services to discuss your tax and financial needs today.