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🍂 FM Accounting Monthly Newsletter

October 2025 | Guiding You Through Year-End Success
📍 Chicago, IL | Trusted Partner for Small Businesses & Individuals

🔹 Firm Update – Year-End Planning Sessions

As the year winds down, it's the perfect time to get ahead of your 2025 tax strategy. Our Year-End Tax Planning Sessions help you optimize deductions, review your income and expenses, and prepare your financials before December 31st. Taking action now can save you significant money come tax season.

👉 Book Your Year-End Planning Session

🔹 Key Tax Deadlines – October 2025

October is a busy month for tax deadlines. Don't miss these important dates that may apply to you or your business:

📅 October 15, 2025 – Last chance to file 2024 individual tax returns (Form 1040) if you filed an extension.
📅 October 15, 2025 – Extended deadline for C-corporation tax returns (Form 1120).
📅 October 31, 2025 – Quarterly payroll tax returns (Form 941) are due.

📌 Resource: IRS Tax Calendar for Businesses

🔹 Tax Tip of the Month – Charitable Contributions

With the holiday season around the corner, charitable giving can be a meaningful way to support your community while also lowering your taxable income. Qualified donations made before December 31st may be deductible, whether in cash or appreciated assets.

💡 Pro Tip: Keep detailed records of all charitable contributions, including receipts and acknowledgment letters from organizations.

📖 Resource: IRS Charitable Contribution Rules

🔹 Illinois Business Incentives Highlight

Illinois offers valuable programs to encourage business growth. If you're investing in research, workforce training, or expansion, you may qualify for credits that lower your tax liability. Taking advantage of these incentives can free up resources to reinvest in your company.

🏢 Available Incentives: Research & Development Credits, Job Training Credits, Enterprise Zone Benefits, and more.

📖 Learn more: Illinois DCEO Incentives

🔹 Resource Highlight – Year-End Checklist

Don't let year-end tasks sneak up on you. Use our checklist to make sure your finances are in order: review income and expenses, maximize retirement contributions, finalize payroll, and keep your records organized.

✅ Checklist Includes: Income review, expense categorization, retirement planning, payroll finalization, and document organization.
📅 Gather your documents

🔹 Quick Reminder – Business Structure Review

As your business grows, your structure should grow with it. Reviewing whether an LLC, S-Corp, or other entity type fits your business can provide tax savings and legal protection. Now is the best time to make changes before the new year begins.

🏗️ Structure Options: LLC, S-Corporation, C-Corporation, Partnership - each with unique tax advantages.
👉 Schedule a Business Structure Consultation

Closing Note from FM Accounting

The last quarter is your opportunity to finish strong and set up for success in 2026. Let's work together to ensure your financial plan is optimized for savings, growth, and peace of mind.