Tax Tips & Resources
Essential tax tips and resources from F&P Business Center's licensed tax professionals. 35 years of experience helping NYC residents and businesses with tax preparation and planning.
Essential Tax Tips
Professional advice from our licensed tax preparers to help you maximize your refunds and stay compliant.
Start Early
Don't wait until the last minute. Start gathering your documents in January to avoid the rush and ensure accuracy.
- Gather W-2s and 1099s
- Organize receipts and documents
- Review last year's return
- Update personal information
Keep Good Records
Maintain organized records throughout the year to maximize deductions and ensure accurate filing.
- Save all receipts
- Track business expenses
- Document charitable donations
- Keep mileage logs
Maximize Deductions
Take advantage of all available deductions to reduce your tax liability and increase your refund.
- Business expenses
- Medical expenses
- Charitable contributions
- Education expenses
Quarterly Payments
If you're self-employed or have irregular income, consider making quarterly estimated tax payments.
- Avoid penalties
- Better cash flow management
- Reduced year-end stress
- Professional guidance available
Common Tax Deductions
Don't miss out on these frequently overlooked deductions that could save you money.
Business Expenses
- Home office expenses
- Business meals and travel
- Professional development
- Equipment and supplies
- Business insurance
Personal Deductions
- Medical and dental expenses
- Charitable contributions
- Mortgage interest
- Property taxes
- Student loan interest
Education & Training
- Tuition and fees
- Student loan interest
- Lifetime learning credit
- American opportunity credit
- Professional development
Investment & Retirement
- IRA contributions
- 401(k) contributions
- Investment fees
- Capital losses
- Rental property expenses
Year-Round Tax Planning
Effective tax planning throughout the year can help you minimize your tax liability and maximize your savings.
January - March
- File previous year's taxes
- Review tax withholdings
- Plan estimated payments
- Organize tax documents
April - June
- Make Q1 estimated payment
- Review investment strategies
- Plan charitable giving
- Update business records
July - September
- Make Q2 estimated payment
- Review mid-year finances
- Plan year-end strategies
- Update retirement contributions
October - December
- Make Q3 estimated payment
- Year-end tax planning
- Maximize deductions
- Prepare for next year
Need Professional Tax Help?
Our licensed tax professionals can help you maximize your deductions, minimize your tax liability, and ensure compliance with all IRS requirements.