
Donna Bordeaux explains why waiting until December to plan taxes is too late. Real tax planning happens in August and September so you know what to do by early December. By mid-December, everything should already be running on autopilot.
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Hi, I'm Donna Bordeaux with Calculated Moves here at the end of the year we often get questions about should I make these last minute moves? Should I pay a bunch of expenses? Should I buy a new vehicle? I want to talk to you about the structure of how we work. First off, the last five days of the year are not the time to be doing tax planning. That time has long passed and should have been done in August, September, October. We do all of our tax planning in August and September. So you will always have all of the knowledge of what you need to do for the end of the year. If there's anything at all. We don't want you to stop the world and think, oh my goodness, what should I do? It's the last few days of the year. I don't know if I should be paying down some expenses or buying more inventory. All of those questions are long gone and done. Okay, if you know anything about how we work. Nothing is a last minute effort. Everything is planned out so that you have a list of what it is you need to accomplish and when it needs to be done. There's no big questions that should be answered in the last two weeks of the year. For that matter, continue after December 10th or 15th that everything should be on autopilot. At that point, nothing left to surprise. So I hope this helps you rethink how you deal with the end of the year and with your tax planning. If you are not getting your tax planning in place in September, August area, let me know and let's talk about how we can change that for you. The world has come to a different place where we do planning long in advance and not just in the last three or four days of the year. I'm Donna Bordeaux with calculated moves.










