Year End Tax Saving & Planning
Do you know what time it is?
It's TAX PLANNING time!!!
COMMON MISCONCEPTIONS:
Tax Planning is meeting with your accountant in March/April...that is Tax FILING (NOT planning)
That the goal is to pay less taxes THIS year...that is WRONG!
The GOAL is to pay less taxes over your LIFETIME!
So what does that mean?
Some years, you will strategically INCREASE your tax liability...in the hopes that over time that will reduce your taxes significantly in the future.
It's both an art and a science since nobody has a crystal ball what tax rates will be 10, 20 or 40 years from now.
But the one thing that we do know...
...Nov & Dec are Tax Planning Months!
After 12/31/XX...most tax planning ideas are gone for the current year.
AGAIN...tax saving season is NOT March/April when you file your taxes. (that's tax filing season)
If your accountant isn't contacting you right now to do this planning... book a call with us right now!
We have 110+ Tax Saving Strategies that we run your business & personal finances through!!
Best
Pat
Disclaimer: This is educational ONLY. This is NOT advice for your specific situation. Please speak with a qualified financial and tax professional before making any changes to your financial or tax situation