Paying Your Taxes in 2025: A Step-by-Step Guide
Knowing how to pay your taxes correctly is important if you want to avoid penalties or paying more than you should. No matter how many times you’ve filed your taxes in the past, the entire process can still feel confusing.
Keep reading to learn more about how to pay taxes in 2025 to help you save money and prevent headaches with the IRS.
How To File Taxes on Your Own
Filling your own taxes can be a tricky process because you need to pay careful attention to details. Here’s a step-by-step guide you can follow to pay your taxes this year:
1. Find Out if You Need To File Your Taxes
Before you start filing your taxes, the first thing to do is check if you even need to. For most people in the U.S., filing a tax return depends on how much you make, your age, and your filing status. For example:
- If you’re single and under 65, you need to file if you made at least $14,600 in the previous year.
- If you’re married but filing separately, you have to file if you made a gross income of $5 and above.
- If you’re a business owner paying taxes, you must file if your earnings after expenses are at least $400. Even if you don’t reach this amount, other factors might still require you to file, so it’s important to check.
To make sure you get the maximum refund or pay the right amount, consider working with a Weslaco tax accountant to guide you through the process.
2. Gather All Your Important Tax Papers
When preparing to file your taxes, it’s important to have all your tax documents ready. Doing so will help you save time and avoid mistakes that could delay your refund process.
Here is a non-exhaustive list of important documents you need to prepare to file taxes in Weslaco:
- Personal Information– This information can include your Social Security number, Individual Taxpayer Identification Number, and identity protection PIN.
- Income Documents– These documents can include W-2 forms, 1099 forms, and 1099-NEC.
- Deductions Documentation– These documents can include receipts for donations to charity, mortgage interest statements, and property tax records.
- Self-Employment and Side Job Records– These documents can include income statements from banks, payment apps, or online platforms.
Keep in mind that each of these categories includes many other specific types of documentation that are not listed above. For more information, you can check out the IRS site or reach out to our experienced Weslaco accountants.
3. Check for Credits or Deductions
Understanding how to pay taxes isn’t just about filing your return; it’s also about legally reducing what you owe. By taking advantage of tax credits and deductions, you can lower your tax bill or even increase your refund. Below are some tax credits you might qualify for:
- Child tax credit
- Earned income tax credit
- Family and dependent credits
- Homeowner credits
- Health care credits
To learn more about the deductions and credits you may qualify for, you can check out the IRS site or get help from Gonzalez & Arrambide, Inc.
4. Send in Your Tax Form
After getting your documents in line, you can prepare to file your tax return. For this year, the tax return deadline is April 15, 2025. But, if you’re filing during a fiscal year, you can find your deadline here. If you can’t make the deadline, you may be allowed to file your taxes late if:
- You were impacted by a disaster declared by the federal government.
- You are residing outside the country when taxes are due.
However, if neither of the cases above apply to you but you still need an extension, you will need to request an extension before the filing deadline. You can work with an accountant to stay on track and avoid the stress of last-minute extensions. They’ll make sure your taxes are filed correctly and on time.
5. Get a Refund
If you’ve paid more in taxes than you owe, you may be eligible for a refund. Even if you didn’t owe taxes, you could still receive a refund if you qualify for certain refundable credits. The fastest way to get your refund is through direct deposit, which typically takes up to 21 days for electronically filed returns.
If you’re not sure whether you qualify for a refund, an accountant can help review your return, track its status, and ensure you claim what you’re owed. You can also use the IRS “Where’s My Refund?” tool to check for your refund.
Why You Should File Taxes With Help From a Weslaco Tax Accountant
No matter what your employment status is, filing your taxes yourself can be complicated. So, to ensure you pay taxes in Weslaco with ease, working with a tax accountant is key. Here’s why:
- Tax Planning– Good tax planning isn’t just for the rich; it helps everyday people keep more of their hard-earned money. An accountant can show you smart ways to reduce your taxes now and in the future.
- Tax Consulting– Not sure if you’re making the right tax decisions? A tax professional can help you understand your options and find ways to lower what you owe.
- Tax Preparation– When filing your taxes, even small mistakes can cost you money. A tax accountant makes sure your forms are filled out correctly and that you’re getting the best refund possible.
- Audit Assistance– If the IRS ever questions your tax return, having an accountant on your side can give you peace of mind. They’ll help you respond correctly and avoid penalties.
Work With a Weslaco Certified Public Accountant To Pay Your Taxes
Having an idea of how to pay your taxes properly is important to avoid penalties and ensure you get any refunds you’re entitled to. Unfortunately, tax laws are incredibly complicated.
A Weslaco CPA at Gonzalez & Arrambide, Inc., can help you file your taxes correctly and ensure you meet all deadlines. Whether you’re a business owner, self-employed, or you just want to make sure you’re doing things right, professional guidance can save you time and stress.
