The 2025 tax season is here, and for small business owners, preparation is key. Staying ahead of your tax obligations reduces stress and can save you money in the long run. Whether you’re managing taxes in-house or working with a trusted partner like Overdrive Accounting, this checklist will help you confidently navigate the season.

Why Preparation Matters

The IRS isn’t forgiving about missed deadlines or incomplete documentation. By staying organized and proactive, your business can avoid costly penalties, benefit from available deductions, and focus on what matters: growth.

Your 2025 Business Tax Season Checklist 

Use this streamlined list to make sure you’re ready for filing:

• Gather and Review Financial Statements
  Profit & loss statements, balance sheets, and cash flow reports should be accurate and current.
• Organize Receipts and Expense Records
  Keep all receipts related to business expenses. Digital tools can help categorize them.
• Reconcile Bank and Credit Card Statements
  Make sure every transaction is accounted for and matches your records.
• Issue 1099s and W-2s
  Businesses must send 1099-NEC forms to contractors and W-2s to employees by the IRS deadlines.
• Update Payroll Records
  Confirm that all employee data, tax withholdings, and benefits are correctly recorded.
• Review Asset Purchases and Depreciation
  These can significantly impact your tax liability.
• Check for Available Tax Deductions and Credits
  Don’t overlook deductions for home offices, startup costs, or equipment purchases.
• Consult with Your Accountant
  A professional review can uncover savings and ensure compliance.

Partner With Overdrive Accounting for a Smooth Tax Season

At Overdrive Accounting, we help businesses like yours stay ahead of tax season chaos. Our experienced team provides:

• Full-Service Tax Preparation
  From filings to forms, we handle it all.
• Proactive Tax Planning
  We help you make smart moves before tax deadlines hit.
• Year-Round Support
  Unlike seasonal tax firms, we’re available year-round to assist with financial questions and planning.

Explore more on our blog or access free tools in our resource library.

Don’t Wait Until the Last Minute!

Ensure your business is ready for the 2025 tax season. Schedule a free consultation with Overdrive Accounting today and start the season strong.