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Christmas in July? Or, Tax Planning

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Christmas in July? Or, Tax Planning

Its summertime-- you’re out enjoying the summer sunshine, backyard BBQ, or a weekend at the lake…. the last thing you are thinking about is tax planning.  Here’s the deal, there is no better time than now to start looking at and projecting out tax liabilities for the year.  We are roughly at the mid-year point, so to get finances and taxes aligned now allows for a more educated tax plan, rather than to be at year end with anxiety of how to minimize the tax burden before the ball drops.

It is good practice to do an overall review of the business near year end to help develop sound tax strategies and help minimize the tax burden.

But it is also a great idea to do this now, to allow time and planning for business solutions towards that year end goal.

Other great times to consider tax planning:

                Adding or removing a business partner

                You are considering selling some land or rental property

                Considering a purchase or acquisition

                Becoming Self-employed

                                                …and the list goes on.

Give us a call; we are here to help you along the way, no matter what time of year it may be.