Get ready: Two tax bills, one deadline.
If you're the type of person who loves a good reset (and let's be real, who doesn't love a color-coded calendar, restocked desk supplies, and a freshly organized desktop?!), I've got a studio spring cleaning checklist for you:
Review your recurring payments.
Basically, I want you to open up your [QuickBooks/Xero/preferred software] and scroll for subscriptions you aren't using anymore. Keep an eye out for the usual suspects (aka “free" trials that turned into paid without you noticing).
Categorize EVERYTHING in your uncategorized transactions.
If you've got auto rules on in your bookkeeping software, make sure you double-check that the category is actually accurate before accepting the transaction.
Refresh your synced accounts.
Some banks actually require you to re-sync your accounts every few months, so it's never a bad idea to make sure all of your bank accounts and credit cards are actively synced.
Here's the whole reason I want your business finances to be totally organized… April 15th is coming, and with it comes a double-upped due date: your 2025 tax bill and your Q1 2026 estimated tax payment.
OOF! I know, it's no fun, but I'm trying to lessen the sting by making sure you can start planning now.
Tax Day can be extra painful for studios who don't plan for estimated taxes. That’s why my March freebie makes sure you know exactly who needs to pay estimated taxes, how much to pay, when to pay, and what you're risking if you don't pay them.
Oh, and one last reminder! For S corporations and partnerships, March 16th is the filing deadline. If you won’t be able to file by then, don’t forget to extend.