If You Think Tax Season Exists Only in April, Think Again...

The ‘busy” season approaches, and I look forward to it.  Some think that the "busy” season for tax work is January through April 15. Literature supports that concept. However, it is not.

For us, September 1 is the start of the “busy” season.  Why may you ask? Our clients are focused on reducing their taxes and saving cash. No matter how good your accountant is. If you wait till April 15 to identify a way to save money by reducing your taxes, it is too late. Cash saving is accomplished by planning. September 1 is the start of the “busy” planning season.

Some individuals are curious about how they did last year and want to know if they missed anything. Others want to know what else they could do to keep more of their hard-earned cash. For these questions, we offer the Discovery Session designed to identify mistakes and missed opportunities that cause you to waste dollars paying taxes you do not owe.

Our clients have a detailed tax plan which tells them what to do, when to do it, how to do it and why to do it. With their plan in place, they are interested in measuring the results of their tax reduction efforts and cash savings. If it is important to accomplish, you should measure it.

Our maintenance program offers a detailed estimate forecast of their tax obligation. This estimate is performed after September 1 but prior to the end of the year so they can implement ideas to reduce their taxes before it is too late. This project is more detailed than scratching a few numbers on the back of a napkin.

The clients provide us with their updated financial records and estimates of what they expect to happen before the end of the year.  With this information and using the current tax rules, we can calculate their expected tax amount due. Not just for this year but future tax years.  We can estimate the tax impact of each of your decisions so you can see the impact of what your decisions have on what you pay.

Knowledge is power.  When you can see the impact of your decisions on the taxes you pay, you have power to reduce your taxes and save cash. You work hard to earn your money; don’t you deserve to keep it?

Does it work? Yes. The proof of concept is the amount of cash savings realized by our clients. For the 2020 tax season, our clients saved $572,026 in cash. Since we began the detailed tax planning, our clients have saved $7,247,023 in cash. You should get some of that too.

Do not miss this “busy” season. To find out more about how you may reduce your taxes and save cash – especially now with increasing inflation and risks of real estate investing, ask about our Discovery Session. We will look at your tax situation (previous tax return, current profit and loss, and business plans) to identify mistakes and missed opportunities. Call 970-668-0772 to get more information or to request a Discovery Session.