Now that tax time is officially over, we can all exhale. But sure as death, another one is on the way. Make next year less stressful by following these 6 bookkeeping tips for after tax time.
1. Did You File by April 15?
Those of you who have not filed have lots of reason to stress. We highly recommend you file as soon as possible. “Better late than never” does apply here. The sooner you file, the less you will be penalized in penalties, fees, and much more. Also be sure to get a professional to help you file your late tax return, as this is not a do-it-yourself job.
Did you know? Houston ranks number 12 in cities for late tax filings behind other such as Las Vegas, Seattle, Austin, and Dallas? Source: IPX 1031
2. Check on Your Return
It is now easier than ever to check the status of your tax return. You can go to the IRS official site and click on the refund tab. Click on Check your refund and enter your Social Security Number, filing status, and refund amount to get an update. Those of you who paid can also login to your IRS account to check your tax return status.
3. Make Payments for Next Year
Do you constantly owe the IRS each year? Make a payment in advanced in order to not take a huge hit next year. We like to recommend paying at least half of what you think you will owe next year. You will get the money back if you over pay. However, there will be no interest on this money if this is the case.
4. Spend Your Refund Wisely
Those of you with a refund can be tempted to splurge on a luxury. However, we recommend investing in something more substantial. With the stock market currently on the decline, it can be a great time to buy. Feel free to ask your bookkeeper or other financial professional for recommendations. Here are a few good recommendations from the internet.
- Pay off a high-interest debt, as double digit interest can really add up. – Benzinga.
- Buy a Used Car, there are many quality models at this price on Carfax.
- Build your portfolio with a safe ETF – Guide for Investment.
- Create an emergency fund – Benzinga.
- Take advantage of employee matching benefits at work.
Did you know? The average refund amount for tax payers in 2025 was $3,055? This is up from $2,948 in 2024. Source: Forbes
5. Relax and Enjoy
As a professional tax return preparation firm, we like to call this the most wonderful time of the year. It is a great time to take a vacation, go on a road trip, or even do a classic stay cation. You have earned this time off, so enjoy.
6. Get a Bookkeeper
Did you find this tax season extra stressful? Get a bookkeeper to help you prepare the right way for next year. They can help with your individual, married, and business tax returns. They can also help you minimize your liability while maximizing your return.
More Bookkeeping Tips for After Tax Day in Houston
Need an experienced bookkeeper for your personal or professional tax needs in Houston? You may contact us to learn more about our services.
