Key Actions

February is the month to clean up what was missed, get organized, and start planning ahead before tax season peaks. Use this month to:

• Finalize prior year documents if anything was missed. Confirm all W2s and 1099s were sent by January 31. If something was missed or incorrect, handle it now to reduce penalties.
• Gather and organize records. Pull together income reports, expense receipts, bank statements, and tax documents into organized folders or your accounting software.
• Review estimated tax payments. Work with a professional to calculate current year estimates so you are not caught off guard by underpayment penalties later.
• Look for missed deductions. Identify opportunities like charitable contributions, obsolete inventory write offs, or bad debt that may still apply.
• Consult your tax professional early. February is the ideal time to discuss business structure, retirement contributions, and tax saving strategies while you still have options.

Upcoming Tax Deadlines

February 2, 2026

• Deadline for employers to furnish W-2s and most 1099s for 2025

March 16, 2026

• Deadline for S-corporations and Partnerships (Form 1065) to file 2025 returns

April 15, 2026

• Deadline to file 2025 federal income tax returns, pay any tax owed
• Last day to contribute to IRAs/HSAs for the 2025 tax year
• Deadline for C-corporations (Form 1120) to file 2025 returns
• First estimated tax payment due for 2026. This first payment applies to income earned from January 1 through March 31, 2026.

Final Thoughts from the Founder

February is the perfect time to build on January’s momentum by tightening up your organization, reviewing your early Q1 numbers, and solidifying your financial goals for the year. With tax season now in full swing, we are here to help ensure your records are up to date and your accounts are prepared for the months ahead.

This is the time to finalize last year’s bookkeeping, address any outstanding invoices, and confirm your cash flow is on track. Taking care of these items now can prevent unnecessary stress as deadlines approach. If you have questions, please do not hesitate to reach out. This is a busy time for both business owners and accountants, so we encourage you to schedule your time now if you need support.

See you next week!

Marnie Roberts ​​​