#nickneedsU2know about Tax Planning as part of your annual financial planning strategy. I've been a strong believer in tax planning for 20 years. Everybody can benefit, but it is especially critical for small business owners, who have more flexibility when managing expenses. The idea is that by the end of November your year should be shaping up with pretty good visibility and you can meet with your CPA and figure out what you think you will owe. If everything looks good, you don't necessarily need to take any action. But if you have tax issues, you still have a month to take action to reduce your tax liability. If you wait until Jan 1, you lose much of this flexibility. Click the video for 60 seconds of fun!
And if you want more, we have two tax podcasts for your listening pleasure! The tax planning podcast features John Dawson, CPA and the new tax law podcast features JJ Sovinsky, CPA.