Why Knowing the Rules is Key to Reducing Your Tax Bill
As a business owner, you can’t put a price on the feeling of knowing you’re prepared going into tax season. Knowing the rules and keeping up with ever-changing regulations within the tax code can be time consuming, and downright overwhelming at times. You already spend so much time agonizing over every other aspect of your business, and taxes are just the icing on top of that many, MANY layered cake. Even if you have an accountant, tax season can still be a stressful time if you’re kept in the dark on how much you owe until it’s basically time to pay. The penalty for not knowing the rules can be costly.
Feel Prepared
To minimize stress and avoid any surprises at tax time, you should be planning with your accountant now. If your accountant has not told you by the end of October what you will owe next Spring, you should be shopping for a new accountant. At Money Mastery, there are no surprises; every one of our clients knows by November 1st what they will owe.
Save Money
With Money Mastery, you can count on accurate, thorough reporting and ethical adherence to tax regulations. We know the rules backwards and forwards, but we also know that the key to stress free taxes is being as prepared as possible as soon as possible. Knowing the rules is half the battle– it’s just as important that you know ASAP whether or not you’ve been following them correctly. A proactive approach to tax planning not only helps you feel prepared and more at ease during tax time; it can help you save money, too. Knowing the rules and getting the guidance you need early on will reduce missed opportunities and oversights that could otherwise lead to you paying more on your tax bill. We want to reduce your business's tax bill by taking action now!
Our concern isn’t just about cutting your bill this year, though— it’s developing a multi-year planning strategy. We believe that positioning yourself for financial success is like setting yourself up to win in chess: you can never start too soon, and it takes strategy. Not all accounting firms will help you plan strategically to meet your long term business goals, but we do!Don’t Stop at Proactive Tax Planning
Not exactly sure what your financial goals are? If you want to get a general idea of what to work toward, here’s what we recommended going into this year (although the advice still holds up even with 2024 looming ever nearer).
If you’re looking for more personalized guidance, we offer that too, through our financial planning services. We’ll help you identify long-term financial goals for your business and provide you with professional advice and financial reporting to best help you grow your company. Your plan will be customized specifically for your business, and designed to fit your company’s vision and objectives.
Tax planning and financial planning aren’t the only ways we can help you feel prepared and in control of your business, either. We also offer a wide range of personalized professional accounting services. Much like our approach to tax planning, the goal of all our services is to identify and eliminate any costly errors as early on as possible, and in doing so, provide you peace of mind.
Take Charge
So many stressors can be taken out of the equation with the initiative and proactive attitude that Money Mastery brings to the table— especially the stressors associated with tax time. Remember: if you’re still in the dark and haven't been told what you owe by the end of October, you need a new accountant. There is a better way out there, so contact us today and discover the difference for yourself!