Tax Tips from Tax Services of Tennessee

  Missing Your W-2? Here’s What to Do Before Filing Your Tax Return https://taxservicesoftennessee.com If you are ready to file your 2025 tax return but cannot find or never received your Form W-2 , don't simply leave those wages off your return. Your W-2 reports important information, including your wages and the federal income tax, Social Security tax, and Medicare tax withheld from your paycheck. Employers are required to provide employees with a W-2, and the IRS recommends contacting your employer first if yours is missing. Start by contacting your current or former employer and asking for another copy. If you moved during the year, make sure the employer has your correct mailing address. You can also check your IRS Individual Online Account for available 2025 wage and income transcript information. Keep in mind that the IRS transcript may not contain all of the state and local information that appeared on the original W-2. What If the Employer Will Not Give You a W-2? If ...

  https://taxservicesoftennessee.com Missing a 1099-NEC? You May Still Need to Report the Income If you are self-employed or an independent contractor and are still waiting for a Form 1099-NEC , you may be wondering whether you can file your tax return without it. The important thing to understand is that not receiving a 1099-NEC does not make the income disappear . The IRS says taxable income generally must be reported even when you do not receive a tax form reporting it. If you believe you should have received a 1099-NEC, first contact the business or payer and ask for a copy. You can also check your IRS Individual Online Account for available wage and income transcript information. The IRS notes that 2025 wage and income transcripts may include Form 1099-NEC information, although a form may not appear if the payer has not submitted it to the IRS. If you still cannot obtain the form, don't automatically leave the income off your return. Use your own records—such as bank depo...

  Self-Employed and Filed a Tax Extension? Don’t Miss the October 15 Deadline Self-Employed and Filed a Tax Extension? Don’t Miss the October 15 Deadline If you are self-employed and requested an extension for your 2025 individual income tax return, October 15, 2026 is generally the extended filing deadline . Self-employed taxpayers often have more information to report than someone who receives only a W-2, so waiting until the last minute can make filing more difficult. Your return may include business income, expenses, vehicle or mileage deductions, equipment purchases, insurance, advertising, supplies, professional fees, and other costs associated with operating your business. One important thing to remember is that an extension gives you additional time to file , not additional time to pay the tax that was originally due. Self-employed individuals may owe both income tax and self-employment tax , so the final balance can sometimes be larger than expected. If you haven't filed...

  Tax Services of Tennessee Still Haven’t Filed Your 2025 Taxes? Here’s What to Do Before October 15 If you requested an extension for your 2025 federal income tax return and still have not filed, now is the time to take action. For most individual taxpayers with a valid extension, October 15, 2026 is the extended filing deadline . An extension gives you additional time to file your return, but it generally does not give you additional time to pay taxes that were due with the original return. The IRS recommends filing as soon as you can rather than waiting until the deadline. Do not avoid filing simply because you are worried that you may owe money. Filing the return tells you exactly where you stand. If you cannot pay the entire balance, you may have IRS payment options available. Waiting to file can create additional problems, particularly when tax is owed. Getting the return completed now also gives you time to review it, locate missing information, and address questions befor...

  https://taxservicesoftennessee.com What Happens If I Miss the October 15 Tax Extension Deadline? If you received an extension to file your 2025 federal income tax return, October 15, 2026 is generally your final extended filing deadline . But what happens if October 15 comes and goes and you still have not filed? The most important thing is do not continue putting it off . Filing as soon as possible can help prevent the situation from becoming more expensive and complicated. If you owe taxes, penalties and interest may apply, and delaying the return can potentially increase what you ultimately have to pay. Remember, an extension gave you additional time to file your return , not additional time to pay taxes that were originally due. Even if you cannot afford to pay the entire balance, it can still be important to get the return filed and then address the amount owed. If you are due a refund, you generally will not face a failure-to-file penalty simply because you filed after t...

  Filed an Extension? Don’t Forget That October 15 Is Not a Payment Extension One of the biggest misunderstandings about a tax extension is believing that it also gives you extra time to pay your taxes. For most individual taxpayers who requested an extension, October 15, 2026 is the extended deadline to file the 2025 federal income tax return—but the extension did not extend the original deadline to pay taxes owed . If you expect to owe, waiting until October to file can allow interest and applicable penalties to continue adding up. Even if you cannot afford to pay your entire tax bill, getting the return filed is still important. Once you know the actual amount you owe, you can determine what your next step should be. Depending on your circumstances, IRS payment arrangements may be available. Ignoring an unfiled return because you are worried about the amount due usually does not make the problem easier. At Tax Services of Tennessee , we work with individuals and small-busines...

  October 15 Tax Extension Deadline Is Coming — Don’t Wait Until the Last Minute If you filed an extension for your 2025 individual income tax return , your extended federal filing deadline is October 15, 2026 . An extension gave you additional time to file your return, but it did not give you additional time to pay taxes that were originally due on April 15. If you still have not filed, now is the time to gather your W-2s, 1099s, business income and expenses, rental information, and other tax documents and get your return completed. Waiting until October 15 can create unnecessary stress, especially if you discover that you are missing a tax document or have questions about your return. Filing earlier also gives you more time to understand what you owe and consider payment options if you cannot pay the entire balance at once. The IRS recommends that taxpayers who owe pay as much as they can as soon as possible to help reduce additional penalties and interest. At Tax Services of...

Why Is It Better to File Your Tax Return on Time?  Yes. You should file your federal income-tax return on time even if you cannot pay the full amount you owe. Filing and paying are separate obligations. If you received an extension for your 2025 individual return, October 15, 2026, is generally your filing deadline. Failing to file may result in a failure-to-file penalty, which is generally higher than the failure-to-pay penalty. Filing your return on time may help you avoid additional charges, even when you cannot pay the entire balance. You should pay as much as you can because penalties and interest may continue to accumulate on the unpaid amount. After your return is filed and the amount owed is established, you may be able to apply for an IRS payment plan. Depending on your balance and financial circumstances, the IRS may offer a short-term payment plan or a longer-term installment agreement with monthly payments. Penalties and interest generally continue until the balance is ...

Filing your federal income-tax return on time can help you avoid unnecessary penalties, interest, and stress. If you received an extension for your 2025 individual return, October 15, 2026, is generally your filing deadline. An extension gives you additional time to file, but it does not provide additional time to pay taxes owed. If you owe taxes and miss the filing deadline, the IRS may charge a failure-to-file penalty. This penalty can be substantially higher than the failure-to-pay penalty. Filing on time—even when you cannot pay the entire balance—may help prevent additional charges. After filing, you may be able to request an IRS payment plan for the remaining balance. Filing on time also keeps your tax records current. Tax returns may be needed when applying for a mortgage, business loan, financial assistance, or other programs that require proof of income. Self-employed individuals and small-business owners may also need completed returns when making financial decisions or plann...

October 15 Tax Extension Deadline: What Tennessee Taxpayers Need to Know  If you received an extension for your 2025 individual federal income-tax return, October 15, 2026, is generally your final filing deadline. If your return is still unfinished, you do not have to handle it alone. Tax Services of Tennessee can help you organize your documents, review your income and deductions, and prepare an accurate federal tax return before the deadline. Tax Services of Tennessee works with individuals, families, self-employed taxpayers, rental-property owners, and small-business owners. Whether you have Forms W-2 and 1099, business income and expenses, rental properties, investment income, or estimated tax payments, Sherrie Jenkins will help you understand what information is needed to complete your return. Tax Services of Tennessee also provides bookkeeping and QuickBooks assistance when business records need to be organized before the return can be prepared. Waiting until the last minute ...

 Taxpayers who received an extension for their 2025 individual federal income-tax return generally have until October 15, 2026, to file. If you have not yet completed your return, now is the time to gather your records. Waiting until the last minute could make it harder to locate missing documents, verify income, and claim all the deductions and credits for which you may qualify. Common documents include Forms W-2 and 1099, Social Security income statements, retirement distributions, investment statements, mortgage-interest statements, charitable-contribution records, estimated tax payments, and information for dependents. Rental-property owners should gather their rental income, repairs, property taxes, insurance, mortgage interest, management fees, and other property expenses. Self-employed individuals and business owners may also need bank and credit-card statements, bookkeeping reports, mileage records, equipment purchases, loan-interest statements, contractor payments, and rec...

 If you received an extension for your 2025 individual federal income-tax return, October 15, 2026, is generally your deadline to file. An extension gives you additional time to submit your return, but it does not provide additional time to pay your taxes. Any federal tax owed was generally due by April 15, 2026, and penalties and interest may continue to accumulate on an unpaid balance. Do not wait until the final days to gather your documents. Make sure you have your Forms W-2 and 1099, business income and expenses, rental-property records, investment statements, estimated tax payments, and information supporting your deductions and credits. Self-employed individuals and business owners should also confirm that their bookkeeping is complete and that loans, transfers, and personal deposits have not been incorrectly reported as business income. Even if you cannot pay the entire balance, you should still file your return by the extension deadline. Filing on time may help you avoid a...

 Are Your Business Books Ready for Tax Season? Disorganized bookkeeping can make tax preparation stressful and may cause business owners to overlook valuable deductions. Before filing your return, make sure your income and expenses are properly categorized, bank and credit-card accounts are reconciled, loan deposits are separated from business income, and personal purchases are not included as business expenses. Accurate financial records can also help you understand how profitable your business truly is and prepare for estimated tax payments. Tax Services of Tennessee helps small-business owners in Brentwood, Franklin, Nashville, and throughout Middle Tennessee organize their financial records and prepare accurate tax returns. We offer professional bookkeeping, QuickBooks assistance, business tax preparation, sales-tax services, and year-round tax planning. Do not wait until tax season to discover problems in your books. Visit taxservicesoftennessee.com or call 615-933-8292 to sch...

  Tax Services of Tennessee Reaches $500,000 in Gross Sales and Gives Back to the Community Reaching more than $500,000 in gross sales was an exciting milestone for Tax Services of Tennessee . But for us, success isn't just about the numbers. Our growth has been made possible by the individuals, families, and business owners who have trusted us with their tax preparation and financial needs. That's why reaching this milestone also reminded us of something very important: the importance of giving back to the community that has supported us. Proud to Serve Brentwood and Middle Tennessee Tax Services of Tennessee provides professional tax preparation for individuals and businesses throughout Brentwood, Franklin, Nashville, Spring Hill, Columbia, and Middle Tennessee . As our company has grown, we have remained committed to providing personal service and taking the time to understand each client's individual tax situation. We prepare individual tax returns, self-employe...

  Tennessee Tax Strategy in Brentwood, TN: Don’t Wait Until Tax Season Many taxpayers think about taxes only when it's time to file a return. But by then, many opportunities to make better tax decisions may already be gone. At Tax Services of Tennessee , we believe good tax preparation starts with understanding your tax situation—not simply entering numbers into a return. What Is Tax Strategy? Tax strategy means looking ahead. Maybe your business is growing. Maybe your income has increased. Perhaps you're self-employed, own an S corporation, have investment income, or simply owed much more than expected on your last return. Those are situations where it may make sense to look at your taxes before the end of the year . For self-employed taxpayers and business owners, this can be particularly important because federal taxes generally operate on a pay-as-you-go system, and estimated tax payments may be required during the year. A Bigger Refund Isn't Always the Goal G...

  Business Mileage Could Mean a Bigger Tax Deduction If you're self-employed and use your vehicle for business, you may be overlooking an important tax deduction. Contractors, plumbers, real estate professionals, landscapers, cleaning companies and other small-business owners often spend a lot of time driving for work. Those business miles can add up. Are You Tracking Your Business Miles? One of the biggest problems we see is business owners waiting until tax time to think about mileage. Keeping good records throughout the year can make it much easier to determine what may qualify as a business deduction. But remember: business mileage and personal driving aren't the same thing. Simply driving your vehicle every day doesn't mean every mile is deductible. Mileage or Actual Vehicle Expenses? Depending on your situation, there may be more than one way to calculate your vehicle deduction. Which method is better? That depends on your vehicle, expenses, business use a...

Self-Employed in Tennessee? 7 Tax Mistakes That Can Cost You Thousands Running your own business gives you freedom, but it also means you are responsible for keeping up with taxes throughout the year. At Tax Services of Tennessee , we often work with self-employed individuals and small-business owners who are surprised by how much they owe at tax time. In many cases, the problem isn't that the business owner did something terrible. It's that nobody explained what they should have been doing during the year. Here are seven common tax mistakes self-employed taxpayers should watch for. 1. Treating Every Bank Deposit as Business Income If you deposit money into your business account, that doesn't automatically mean it is taxable sales. Your bank account may contain: Customer payments Transfers between your own accounts Loan proceeds Refunds Personal money contributed to the business Good bookkeeping means identifying what the deposits actually represent rather than simply addin...

  Owe the IRS Money? Get Tax Help in Brentwood, TN Getting a letter from the IRS or finding out you owe more than expected can be stressful—but ignoring the problem usually doesn't make it go away . Whether you're dealing with unpaid taxes, an IRS notice, missing tax returns, or a balance you can't pay all at once, understanding your options is an important first step. Don't Handle an IRS Problem Alone Every tax situation is different. Depending on the circumstances, there may be options available for addressing an outstanding tax balance or IRS issue. The important thing is to deal with the problem early rather than waiting for it to become more serious . Need Tax Help in Brentwood? Tax Services of Tennessee helps individuals and business owners understand their tax situations and determine what steps to take next. If you've received an IRS notice, owe back taxes, or simply don't know where to start, call us and let's talk about it. 📍 Tax Service...

  Looking for Tax Preparation in Brentwood, TN? If you're searching for tax preparation in Brentwood, TN , choosing the right tax professional is an important decision. Tax preparation isn't just about entering numbers into a tax return. You want someone who takes the time to understand your situation, answer your questions, and help make sure your return is prepared accurately. Tax Help for Individuals and Business Owners Tax Services of Tennessee provides professional tax services to individuals and business owners in Brentwood and throughout Middle Tennessee. We believe in personal service, clear communication, and building long-term relationships with our clients. Client satisfaction is extremely important to us, and we're proud of the trust our clients place in our services. Whether you need help preparing a tax return, organizing your business finances, or dealing with an IRS tax issue, we're here to help. Need Tax Help in Brentwood? If you've been searching ...

  Local Tax Help in Brentwood Tax Services of Tennessee proudly serves individuals and business owners in Brentwood and throughout Middle Tennessee. Our services include tax preparation, bookkeeping, tax planning, IRS tax resolution, and business consulting. Client satisfaction is extremely important to us, and we’re proud of the high level of satisfaction and trust our clients have shown in our services. We believe in providing personal attention, clear communication, and professional service—not simply preparing a return and sending you on your way. Our goal is to build long-term relationships and help clients stay organized and prepared throughout the year. Looking for Tax Help? If you're searching for a trusted tax professional in Brentwood, Tennessee , we'd be happy to talk with you about your situation. 📍 Tax Services of Tennessee 7110 Town Center Way, Suite 201-A Brentwood, TN 37027 👉 Visit TaxServicesOfTennessee.com to learn more or schedule a consultatio...

  Are You Keeping Your Business Receipts? You paid for it with your business card, so you don't need the receipt—right? Not necessarily. Bank and credit-card statements can show that money was spent, but they may not always show exactly what was purchased or why it was a business expense . Good Records Matter Keeping receipts and supporting documents can help you: Identify business expenses Properly categorize purchases Answer questions about a transaction Prepare for tax season Support deductions when necessary Digital receipts are fine for many recordkeeping purposes, so you don't necessarily need boxes full of paper. The important thing is having an organized system. Don't Try to Recreate a Year of Expenses Waiting until tax season to figure out what you purchased months ago can lead to missed expenses and unnecessary headaches. Good tax preparation starts long before the tax return is filed. Need help getting your business records ready? 👉 Visit ...

  Are You Mixing Business and Personal Expenses? It happens all the time. You stop for business supplies and accidentally use your personal card—or pay a personal expense from the business account. One transaction may not seem like a big deal, but over an entire year, mixing business and personal expenses can make your records difficult to understand. Keep It Separate Whenever possible, use dedicated business accounts for your business activity. Keeping things separate can make it easier to: Track business expenses Understand how much your business is actually spending Prepare accurate financial records Identify potential tax deductions Get organized for tax season Clean It Up Before Tax Season If you've already mixed business and personal transactions, don't ignore them. Take time to review and properly categorize your transactions before you're trying to prepare a tax return . Not sure where to start? Tax Services of Tennessee can help you get your ...

  Get Your Business Records in Order Before Tax Season Waiting until tax season to organize an entire year of business records can create unnecessary stress—and may even cause you to overlook important expenses. A little organization throughout the year can make a big difference. What Should You Keep Organized? Start with the basics: Business income Business expenses and receipts Bank and credit-card statements Mileage records Loan and financing statements Payroll and contractor information Equipment and major purchases You don't need to wait until tax season to find out something is missing. Keep Business and Personal Separate One of the easiest ways to create confusion is mixing personal and business transactions. Using separate business accounts and keeping good records makes it easier to understand what your business actually earned and spent . Don't Wait Until the Last Minute Good records can make tax preparation easier and help ensure legitimate ...

  Making More Money This Year? Don’t Let Your Tax Bill Surprise You Business is going well. Sales are up, customers are coming in, and you're making more money than last year. That's great—but higher profits can also mean a higher tax bill. One mistake small business owners make is assuming they'll deal with taxes when the return is filed. For many self-employed taxpayers, however, taxes are pay-as-you-go , and estimated tax payments may be required during the year. More Money Doesn't Always Mean More Money in Your Pocket Your business may bring in more revenue this year, but revenue isn't the same as profit . Your income, expenses, deductions, and business structure can all affect your tax situation. That's why periodically reviewing your numbers is so important. Don't Find Out in April If your business income has increased significantly, don't wait until tax season to find out what that could mean. A tax professional can review your numbers du...

  Don’t Wait Until Tax Time: Look at Your Business Numbers Every Month Running a successful business isn't just about making sales. You also need to know where your money is going and what you're actually making . At the end of each month, take a few minutes to review your business numbers. What Should You Look At? Start with a few basics: Total income Business expenses Profit for the month Money owed to you Upcoming bills and expenses Estimated taxes you may need to prepare for You don't have to be an accountant to notice when something doesn't look right. If sales are increasing but your bank balance isn't, where is the money going? If expenses suddenly increased, what changed? And if your business is having a great year, are you prepared for the potential tax bill? A Monthly Checkup Can Prevent Year-End Surprises Waiting until tax season to look at an entire year's worth of numbers can make it much harder to make good business an...