Lions, lambs, warning Ides and luck all apply to March taxes

March 1, 2015

Are you a tax lion, aggressively hunting down tax breaks? Or are you a tax lamb, cowering before the complicated Internal Revenue Code?

Lion-and-lamb-March

Whatever your March tax persona, this last full month of the tax-filing season offers plenty of time and ways to cut your 2014 tax bill. It's also a good month to make some moves to lower your coming 2015 tax debt.

Business focus: Business filers need to take care, as the start and middle of the month are critical deadlines.

Farmers and fishermen who didn't make their final estimated tax payment on Jan. 15 must file and pay any due tax by Monday, March 2. 

The next business tax deadline comes about two weeks later. But this year, corporate taxpayers get an extra day. Because the normal March 15 filing deadline for corporations is on Sunday, the tax day this year is Monday, March 16.

Beware, be lucky, be warm: Other special March dates also offer some tax ideas.

We're facing yet another Friday the 13th this month, but don't let it scare you. And don't fall for some common tax myths and misperceptions.

And definitely don't depend on lucky charms to cut you tax bill. Instead, check out these 17 ways to save on your taxes. Even better, they're good even beyond St. Patrick's Day.

Then there's the welcome arrival of spring.

The only thing better than warmer weather is a way to reduce your coming 2015 tax bill. That's a definite possibility when you spring cleaning leads to tax-deductible donations.

March_tax_moves_160More March tax moves: These are just a few ways to deal with your 2014 filing and plan for lower 2015 taxes.

More tax tasks are listed in the March Tax Moves over in the ol' blog's right column.

Just scroll down a bit and look for the red lettering under the countdown clock that's keeping track of how long until we reach the April 15 filing deadline.

And whether you're a lion or lamb, take advantage of all of March's 31 days to make money-saving tax moves.

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Happy New Tax Year! Are you ready to file your 2025 tax return? I know, too early to ask. But Tax Day 2026 will be here before we realize it. The Internal Revenue Service deadline to file and pay any tax we owe is the regular April 15 date this year. It’s also Tax Day for most of the states that collect income taxes from their residents, which is most of the states! If that seems too far away right now, don’t worry. As is the case every tax season, the ol’ blog’s tips and other tax reminders should help all of us meet our state and federal responsibilities. Procrastinators also will want to keep an eye on the countdown clock just below. It tracks how much time we have until April’s Tax Day, just in case we put off our annual tax task until the absolutely final hours and decide we need to instead get an extension request into the IRS by that date. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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