With the year drawing to a close, now is the time to start thinking about your 2024 income tax return and getting all of your documentation to your accountant in a timely fashion.

Preparing your tax returns early offers several advantages, the most obvious being getting a tax refund early, if you are due a refund.

If you owe taxes, early preparation gives you more time to budget and make arrangements for payment.

If you miss the tax deadline, you may face penalties and interest on any unpaid taxes. Filing early reduces the risk of late filing, helping you avoid unnecessary fees.

Waiting until the last minute to file can be stressful, especially if you’re gathering paperwork or dealing with complicated deductions. Filing early gives you time to carefully review your return and ensure everything is accurate.

For more information contact McGowan Accountancy Services on on (090) 66 25818 or email nuala@mcgowanaccountancy.com