For most farmers, their tax season usually ends on March 1 of each tax year since that is when they usually file their income tax returns. However, for the rest of us, our normal due date is April 15, but many of our clients get an extension until October 15.
These clients are usually our “procrastinators” and it can get very stressful to get these returns all down by October 15 of each year. As usual, I still have a few stragglers that for some reason cannot find all of their information or get it to me. I will deal with those after today but for 99.9% of my clients, we are done with another tax season.
Now it is time for us to do our year-end tax planning and if you have never done this before, contact your tax advisor since planning now can save you taxes later!
Paul Neiffer, CPA