Tax Planning
Filing a return tells you what you owe. Planning is how you change the number while there’s still time to do something about it.
By April, the year is already decided
Most people only talk to an accountant when the return is due. At that point every decision that could have changed the outcome has already been made, and all that’s left is reporting it accurately.
Planning moves the conversation earlier, to the point where your choices still matter.
Estimated tax planning
Quarterly payments calculated properly, so you know what’s coming and avoid underpayment penalties instead of discovering them.
Savings review
A real look at where you may be leaving money on the table: entity structure, timing, retirement contributions, equipment, and deductions you may not know apply to you.
Planning is worth most if…
You’re self-employed
Nobody’s withholding tax for you. Estimated payments are your responsibility, and getting them wrong costs penalties on top of the tax.
Your income changed
A good year, a bad year, a business sale, a new revenue stream. Big swings are exactly when planning pays for itself.
You were surprised last April
If the bill was bigger than you expected, that is not going to fix itself. Something in the plan needs to change.
Tax planning FAQs
Preparation is reporting what already happened. By the time you’re filing, the year is closed and your options are mostly gone. Planning happens while there’s still time to change the outcome.
Anyone whose income isn’t having tax withheld from it: self-employed people, business owners, contractors, and anyone with significant investment or rental income.
Ideally before the year ends. Autumn is a good time, because there’s still room to act. For estimated payments it’s quarterly and ongoing.
Quote-based, because the work varies with the complexity of your situation. Call me and we’ll talk about what’s involved before anything starts.
Bookkeeping plans include preparation of your return, and the Growth and Complete plans include review calls where planning naturally comes up. Formal planning work beyond that is quoted separately.
Let’s look at this before the year closes.
Planning only works while there’s still time to act. Book a call and we’ll go through your situation.