April showers bring May flowers, and with them, the final stretch of tax season. With just two weeks remaining before the April 15th deadline, we are wrapping up tax preparation and preparing to shift into tax planning, investment discussions, and cash-flow focused summer meetings.

As a firm, we complete hundreds of returns each year, varying in complexity, from a retired client with three simple forms to a self-employed professional managing dozens of documents and multiple state filings. Despite those differences, one recurring bottleneck remains the same: organization.

The “rigamarole” of gathering documents each spring can feel overwhelming. The good news is that we are only a quarter of the way into 2026 – which means there is still plenty of time to implement habits now that will make next tax season far more streamlined and stress-free.

Charitable Contributions

We recommend tracking charitable donations throughout the year using a simple Excel spreadsheet or Google Sheet (a free and mobile-friendly option). Helpful columns include:

• Charity name
• Date of donation
• Deductible amount

Remember, charities will indicate the deductible portion of your gift. If nothing was received in return, the donation is typically 100% deductible. If goods, services, or event tickets were received, the deductible amount is reduced by the value of those items.

Business Expenses

One of the most common reasons business owners miss deductions is simply a lack of awareness around what qualifies as an expense. We aim to educate clients throughout the year, not just at tax time, so they can make informed decisions as expenses occur.

There are many expense-tracking tools available. A few that stand out:

• QuickBooks Self-Employed – integrates directly with Schedule C reporting
• FreshBooks – ideal for service-based professionals who invoice clients
• Expensify – effective for managing high volumes of receipts and travel expenses

For individuals with fewer than 100 income and expense entries per year, a well-maintained Excel or Google Sheet is often more than sufficient.

Dependent Care Expenses

The Child and Dependent Care Credit can provide meaningful tax savings – up to $600 for one child (20% of $3,000 in expenses) or $1,200 for two or more children (20% of $6,000 in expenses), assuming eligibility requirements are met.

To claim this credit, we will need:

• Provider name
• Provider address
• Provider Taxpayer Identification Number (TIN or SSN)

Gathering this information in advance helps streamline the filing process.

Tax Return Retention

After filing your 2025 return, you may generally shred tax returns from 2018 and earlier.

We recommend retaining the summary letter we provide with your return. It offers a concise overview of income figures, payment details, funding sources, estimated payments, and your Adjusted Gross Income (AGI).

Full tax returns should be stored securely in a safe or lockbox.

We are here to assist with any tax-related questions, whether discussing recent legislative developments, planning ahead for provisions scheduled to sunset in 2028, or helping you stay organized throughout the year.