Extensions…Not a Blank Check
Now that April 15th has come and gone, it is time to dig deep down and pull all of your personal information together. If you are among the millions who extended the due date of filing their return legally from April 15 to October 15th, you should be in no less of a rush to file and pay all 2007 taxes because:
- A delay to file is not a delay to pay as both the IRS and individual states access a late payment fee/penalty and interest for all monies paid after April 15th
- Now is the time to see what you can begin to do to legally lower your 2008 tax bill rather than being past oriented. There’s a reason for many success’s of business owners and that is their ability to think and plan ahead. A good steward is always contemplating what comes next and how to always be prepared.
Tax planning is not for the meek or ill prepared so be sure to get all past filings done today so that you can focus on the success’s and planning for 2008 and beyond.
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