Is Your Business Ready for Tax Season? Your 2025 Tax Prep Checklist
- Lavsha King
- Aug 4
- 2 min read
Updated: Aug 6
🧠 Quick Question for You
What’s your biggest stress during tax season?
0% Understanding deductions
0% Meeting IRS deadlines
0% All of the above
You can vote for more than one answer.
⚠️ Don’t Let Tax Season Sneak Up on You
If you're a small business owner in Birmingham or anywhere in Alabama, tax season can feel overwhelming.
Whether you're a solo entrepreneur or managing a growing team, preparing early helps you:
❌ Avoid IRS penalties
❌ Prevent overpayments
❌ Maximize your refund
❌ Reduce stress
That’s why King Financials created this 2025 Business Tax Prep Checklist — so you can file confidently and on time.
✅ Your 2025 Business Tax Prep Checklist
Use this interactive-style checklist to stay organized and ready for tax season:
📁 1. Gather Your Financial Records
Make sure you have the following documents prepared:
✅ Profit & Loss (P&L) Statement
✅ Balance Sheet
✅ Receipts for deductible business expenses
✅ Payroll records (if you have employees)
✅ Mileage logs (if you use a personal or business vehicle)
📌 Tip: Use a cloud-based folder labeled “2025 Tax Docs” and organize files by category.
🏢 2. Verify EIN and Business Structure
Double-check your:
Employer Identification Number (EIN)
Legal business name and type (LLC, S-Corp, Sole Proprietor, etc.)
State and federal registration documents
Your tax filings must match what’s on file with the IRS. Don’t let a typo delay your return.
📝 3. Organize 1099s and W-2s
If you’ve paid contractors or employees in 2024:
✅ Issue 1099-NEC to contractors paid over $600
✅ Send W-2s to employees
✅ File both with the IRS and SSA by January 31, 2025
📌 Use accounting software or payroll services to make this easier.
💰 4. Review Estimated Tax Payments
If you made quarterly estimated tax payments:
✅ Confirm payment dates and amounts
✅ Check for underpayments to avoid IRS penalties
✅ Adjust Q4 payment if needed
📌 Didn’t make quarterly payments? Let’s discuss your options before year-end.
🧾 5. Identify Tax Deductions & Credits
This is where many small businesses leave money on the table. Work with a professional to identify:
🏠 Home office deduction
💻 Software subscriptions
🛠 Equipment depreciation (Section 179)
👨👩👧👦 Employee Retention Credit (ERC)
🚘 Vehicle expenses
💊 Self-employed health insurance deduction
📌 Let King Financials help you find every deduction you qualify for.
💼 How King Financials Helps Small Businesses in Alabama
You don't have to tackle tax season alone. At King Financials, we help Alabama businesses prepare, file, and plan their taxes with confidence.
Here’s what we offer:
🗂 Full document organization
💸 Deduction & credit discovery
🧾 Clean, IRS-compliant filings
🛡 Audit support if needed
📊 Year-round tax planning
💬 “We don’t just crunch numbers — we help you understand them so you can grow your business smarter.”
📞 Book Your 2025 Tax Strategy Call Today
📣 Join the Conversation
💬 What’s something you always forget during tax season?
Drop your answers in the comments — or share your best tip using #TaxReadyWithKing on Facebook or Instagram. We'll feature your tips!
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