Daniel HonanFounder, Profitable Painter CPA PLLC · I help painting contractors increase profits & cash flow while reducing taxes♦ Bookkeeping ♦ Tax

Painting Business Owners: Curious on what tax planning looks like at Bookkeeping For Painters (BFP).

Name: Painting Business Owners: Curious on what tax planning looks like at Bookkeeping For Painters (BFP).
Uploaded: 2024-04-24T12:45:00+00:00
Duration: 27 s
Channel: Daniel Honan
Description: In this brief video, the speaker urges painting business owners to consult their tax professional about tax‑planning services. He explains that at…

24 Apr 2024 · 0 min

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In this brief video, the speaker urges painting business owners to consult their tax professional about tax‑planning services. He explains that at Bookkeeping For Painters (BFP) tax planning is performed daily for clients, even though each client is not seen every day. He recommends that each client schedule at least two formal tax‑planning meetings each year—one in the summer and one in the fall—so the business’s current position can be reviewed and year‑end tax‑saving moves can be identified and executed.

Definitely talk to your tax professional, see if tax planning is something they offer. It's something that I am doing with our clients almost every single day. I'm not working with the same client every single day. I'm doing tax planning every single day. I recommend with our clients, I like to have at least 2 formal tax planning meetings, one in the summer and one in the fall, so that we can see where their business is and understand what moves we want to make before the end of the year.