A year-end tax planning meeting with your accountant is similar to a regular oil change, a yearly physical with your doctor, or a maintenance checkup on your AC/heater every six months. In these cases, experts diagnose any issues with the current system and, just as importantly, give suggestions for improvement going forward.
Learn why a year-end tax planning meeting with your accountant or tax expert should be on your calendar right now.
Saves You Money in the Long Run
Frankly speaking, clients sometimes object to our suggestion for a year-end tax planning meeting due to the cost. While cost is always a consideration, most clients learn ways to save more money in taxes than they pay for the meeting with one of our accountants. Any type of maintenance – for our cars, our physical health, and, yes, for our financial health – costs money.
But the benefits outweigh the costs.
Keeps You Informed
You hire an accountant because that person is the expert. You have no desire to know the ins and outs of tax law, and we applaud you for staying in your lane! We do encourage you, though, to be informed about taxes as they pertain to your business.
By attending a year-end tax planning meeting, your accountant can share tips specific to you and your business. No need to read the tax code. Simply meet with an expert to learn what rules and deductions apply to you.
Gives You Time to Act
We suggest you schedule with your accountant between October and Christmas each year. These dates give you time to heed the expert advice and see benefits on your tax bill for the current year.
Morgan & Associates are Ready to Meet with You Now
Whether you’re already a client or a small business owner looking for a savvy, responsible CPA firm to help with taxes, we’d love to meet with you for year-end tax planning. Let’s talk soon!