The 2018 tax season may not be what everybody thinks about in September, but as your CPA and tax specialist, you can bet I’m thinking about it all the time. Here’s a few tips I’ve put together to get you started. Read Tip #1 more than once!
6 Tips for your 2018 tax season you can do right now:
- Prepare for tax law changes. We already know changes are on the horizon, but without knowing what they are, how do you prepare to be prepared? Our approach is strategic positioning which allows our client to be best prepared by having options. My job as your CPA tax specialist (along with my team) is to understand the tax law climate and to help you prepare a strategy that will provide you with options to best protect your exposure to negative tax implications.
- Start tracking everything right now. Just because you haven’t been doing it doesn’t mean it’s too late. If you have a side gig along with your day job, don’t put this off another day. It’s your money you’re protecting!
- Get organized. Who cares about your money more than you? As your CPA and tax professional, along with my tax team of accountants and tax specialists, we care about you almost to the point of being “pushy.” That’s what you hired us for and we won’t let you down.
- Stay proactive. Tax season is continual preparation. In September you meet with your tax team. Review the year and plan the 4th quarter for political, lifestyle or business changes and give yourself time to readjust.
- Strengthen your relationship. Your CPA, tax specialists and accounts are your team. Never hesitate to contact us.
- Establish your relationship. If you don’t have a CPA with a specialized tax team yet, now is the time to contact us.
2018 tax season is no time to be preparing taxes when you should be filing your tax returns.
Tax preparation isn’t something you want to do when its time to file your tax returns. A lot of my tax clients have been with me for many years. They’ve experienced the unique relationship of working with us and our tax team and they understand the proactive tax position we help them maintain throughout the year. Our clients are able to stay in control and adjust their strategies during the year. When it comes time to file their taxes, they don’t worry about last minute surprises.
Many of my tax clients are individual and business clients we meet for the first time when it’s time to file their taxes. Sometimes it’s their first experience with a CPA tax specialist who has a full tax team. Most of the time, these new clients become full-service clients as we help them with other issues in their personal lives or handling their business accounting and financial issues.
Tax preparation and tax filing.
Tax preparation is an ongoing process practiced every day in your small business and your personal financial lives. September is a good time to meet with your tax preparer to determine what adjustments you may need to make before it’s time to file your taxes. Bring your stuff with you. Ask questions, refocus, explore your options, make a plan and get with it! This might even take more than one appointment, but when it’s time to file your tax returns, you’re prepared. Tax preparation has already been done. The very last thing you need when your taxes are filed is a surprise that isn’t very pretty.
Tax preparation can be boiled down to “putting yourself in your best position to present your information to the IRS.” In other words, be prepared before it’s time to file your tax returns.
What’s the bottom line?
If you haven’t already established yourself with a CPA tax specialist, now is the time to do it. Prepare yourself for the 2018 tax season. It’s not going away. Call our offices 479-478-6831
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