As we move into a new year, it’s a great time for individuals and business owners to reset, get organized, and stay ahead of important tax deadlines. While taxes are often associated with April, the reality is that tax responsibilities happen all year long — and missing key dates can lead to penalties, interest, and unnecessary stress.
Here’s a practical overview of the most important tax reminders and timelines to keep on your radar as the year begins.
January: Setting the Foundation
January is all about closing the books on the prior year and preparing for upcoming filings.
Key reminders:
- Gather year-end bank statements, credit card statements, and payroll reports
- Confirm contact information and addresses with vendors and contractors
- Review bookkeeping for accuracy before tax forms are issued
Important deadlines:
- January 31
- W-2s due to employees
- 1099-NECs due to contractors
- W-3 and 1096 filings submitted to the IRS
- 1099-NECs filed with New York State
If you issue payments to contractors or freelancers, this is one of the most important deadlines of the year.
February–March: Tax Prep Season Begins
Once information returns are filed, tax preparation officially ramps up.
What to focus on:
- Providing your accountant with all tax documents promptly
- Reviewing prior-year estimates and payments
- Identifying any major changes from last year (new business, new state, new income sources)
April: The Big One (But Not the Only One)
April 15 (or the applicable federal deadline) is the most well-known tax date, but it’s not the end of the story.
Due dates typically include:
- Individual income tax returns (Form 1040)
- First-quarter estimated tax payments
- Partnership and S-Corporation extensions (if not already filed in March)
If you’re not ready to file, an extension can be filed — but remember:
An extension gives you more time to file, not more time to pay.
Quarterly Deadlines: Not Just for Big Businesses
Many taxpayers have quarterly responsibilities throughout the year.
These may include:
- Quarterly estimated tax payments
- New York State sales tax filings
Missing these deadlines can add up quickly, especially for small business owners.
Year-Round Best Practices
The most successful clients aren’t the ones who rush in at the last minute — they’re the ones who stay organized all year.
A few habits that make tax season easier:
- Keep bookkeeping current and accurate
- Separate business and personal expenses
- Save receipts and documentation digitally
- Communicate early when something changes
Taxes work best when they’re treated as an ongoing process, not a once-a-year event.
How Buffalo Tax Strategies Can Help
We believe good tax outcomes start with good planning and clear communication. Whether you’re an individual taxpayer or a small business owner, staying ahead of deadlines helps reduce stress and creates better financial decisions throughout the year.
If you’re unsure what applies to your situation, reach out — that’s what we’re here for.