A tax advisor explains why year-end planning meetings matter. Once December 31 passes, the prior year is locked in. Regular check-ins help clients actually implement strategies like the Augusta Rule that they've been putting off, so they don't leave tax savings on the table.
What is the year-end planning session and why do I need one? When the year ends, December 31st passes and now it's January 1st. Think of that previous tax year now as locked in. So we want to meet now so that if there's anything that we can do, we still have time to minimize taxes. We want to review strategies that we've already told them about that maybe they haven't implemented yet. So it's kind of a follow-up because I get it. I'd like to think that We're important. We keep money in our clients' pockets. But I also know that as soon as our client leaves the meeting with us, their life starts to happen. And sometimes some of the things that we talked about can get lost. The Augusta Rule or the corporate rent rule, we have a lot of content on it already. I've had clients that for 2, 3 years in a row, they didn't get it implemented. And every time we met, we reminded them and it just took them that long. But if we didn't have these type of meetings, the reminders wouldn't have happened and another opportunity for them to get the strategy implemented wouldn't have happened.
