BRIEFING
DIY or Hire a Pro? Choose the filing method that fits your situation: • DIY Filing: Great for simple returns. Free IRS tools or affordable software makes filing easy. • Professional Help: The more complex your tax filing, the more you will benefit from using a pro. Best for complex cases like retirement, buying a home, permanent change of station (PCS) moves or transitioning out of the military. Reduce Your Tax Burden with an IRA An IRA can reduce your taxes while helping you save for retirement: • Traditional IRA: Contributions may be deductible, reducing your taxable income. • Roth IRA: Contributions aren’t deductible, but earnings grow tax-free. You still have time! Make your 2024 IRA contributions by April 15, 2025. Start saving with a Frontwave IRA — visit us online or stop by a branch today!
Avoid These Common Tax Mistakes Avoid these costly errors: • Missed Deductions: Like student loan interest, charitable deductions or uniform expenses. • Misreporting Income: Include all income, like side gigs or rental earnings. • Procrastination: Filing early gives you time to correct errors. Open a Dedicated Savings Account for Taxes Stay prepared year-round with a savings account exclusively for your tax needs: 1. Open Your Account: Online or at a branch 2. Automate Savings: Schedule transfers for hassle-free saving 3. Watch It Grow: Build your tax fund and avoid last-minute stress
Mark Key Deadlines Get ready for tax season like a pro. Tax season is coming, but it doesn’t have to be stressful. A little preparation now can make the process smoother, less intimidating and even rewarding. Follow these steps to tackle tax season with confidence. Organize Your Documents A hassle-free tax season starts with having all your paperwork ready: • Income Statements: W-2s for employees and 1099s for freelance or side income. • Receipts: Donations, medical expenses, childcare and education costs.
Avoid penalties by tracking these dates: • Federal Tax Deadline: April 15, 2025. Active duty in a combat zone may qualify you for an extension. • Quarterly Estimated Taxes: Self-employed members must stay on top of these deadlines. Need extra time? File for an extension by April 15, but remember, extensions don’t delay payment deadlines.
• Military-Specific Documents: PCS orders, combat pay records or housing allowance statements. • Previous Year’s Tax Return: A helpful reference for deductions and credits. Keep everything in one spot — physical or digital.
Pro Tip: Start a folder for 2025 now to collect receipts throughout the year.
Take Action Today
season doesn’t have to be a burden. Read our blog post for more tips, and let’s make this tax season your most successful yet.
Tax season is your chance to take control of your finances. Start organizing, set deadlines and explore your options. With the right tools and resources, tax
Take advantage of free tax resources.
Together we scared away hunger — thanks to you!
Thanks to your incredible support, our Scare Away Hunger drive was a spooky success! We collected more than 200 pounds of peanut butter, enough to make over 3,000 sandwiches for families in our community. Your generosity proves we can make a real difference when we come together. A heartfelt thank you from everyone at Frontwave and the North County Food Bank for joining us in scaring away hunger. Stay tuned for more ways to get involved and spread kindness in the months ahead.
Free tax preparations options can save you money: • IRS Free File: Free online prep for Adjustable Gross Income (AGI) of $73,000 or less. • VITA: Free tax prep for those earning $67,000 or less, people with disabilities and limited English speakers. • TCE: Free assistance for seniors (60+), focusing on retirement issues. • MilTax: Free e-filing and expert support for military members and veterans. • Free File Fillable Forms: Basic e-filing for confident DIY filers. Visit the IRS website for helpful tax filing information.
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