Tax Tips from Tax Services of Tennessee

Waiting until the last minute to prepare your taxes can create unnecessary stress and costly mistakes. Missing documents, overlooked deductions, and unexpected tax balances are much easier to address when you start early. At Tax Services of Tennessee , we encourage individuals and business owners to plan ahead. Early tax preparation gives you time to organize your records, understand what you may owe, and address potential tax issues before a deadline arrives. Whether you need an individual return, Schedule C, partnership, S corporation, C corporation, rental property, estate, trust, or nonprofit return , getting started early can make the process much easier. Don't wait until the last minute. Let us help you get prepared. Tax Services of Tennessee 📞 615-933-8292 🌐 taxservicesoftennessee.com WE PLAN. YOU PROSPER.

Partnership tax returns can become complicated quickly, especially when multiple owners are involved. At Tax Services of Tennessee , we help partnerships and multi-member LLCs throughout Brentwood, Franklin, Nashville, and Middle Tennessee with professional tax preparation. We prepare Form 1065 partnership returns and Schedule K-1s and help business owners understand partner contributions, distributions, business expenses, and other partnership tax matters. If you and a business partner own a company together, proper tax preparation can help keep the business—and each partner's individual tax reporting—on track. Need help with a partnership or multi-member LLC? Tax Services of Tennessee 📞 615-933-8292 🌐 taxservicesoftennessee.com WE PLAN. YOU PROSPER.

Church Tax Services in Brentwood and Nashville TN

Churches and ministries have unique tax and financial responsibilities. At Tax Services of Tennessee , we help churches and religious organizations throughout Brentwood, Franklin, Nashville, and Middle Tennessee with tax compliance, bookkeeping, and financial reporting. Although churches are generally not required to file an annual Form 990, they may still have responsibilities involving payroll, W-2s, 1099s, minister compensation, housing allowances, unrelated business income, and proper recordkeeping . Having accurate books and understanding the special tax rules that apply to churches can help church leaders avoid costly mistakes and stay focused on their ministry. Need help with your church or ministry? “We also provide nonprofit tax preparation for charities, ministries, and other tax-exempt organizations.” Tax Services of Tennessee 📞 615-933-8292 🌐 taxservicesoftennessee.com Non Profit Tax Preparation WE PLAN. YOU PROSPER

Nonprofit Tax Preparation in Brentwood, TN

Nonprofit organizations have important tax and reporting responsibilities. At Tax Services of Tennessee , we help nonprofits, charities, ministries, and tax-exempt organizations throughout Brentwood, Franklin, Nashville, and Middle Tennessee stay compliant and organized. We assist with Form 990, 990-EZ, 990-N, 990-PF, and 990-T , along with nonprofit bookkeeping and tax compliance. Churches have special tax rules and are generally not required to file an annual Form 990, but they may still need assistance with bookkeeping, payroll reporting, W-2s, 1099s, and other tax matters. Need help with your nonprofit or ministry? Tax Services of Tennessee 📞 615-933-8292 🌐 taxservicesoftennessee.com WE PLAN. YOU PROSPER.

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...