Get your bookkeeping accurate before a tax planning meeting. Pull complete financial statements from your accounting software and verify them. Inaccurate books lead most clients to overpay taxes, but fixing them can save you real money.
Let's talk about taxes for next year. How do you prepare for a year-end planning meeting? How do you prepare your taxes now so that you're ready to go come tax season next year? Get your books in order. When you have business activity, whether you had a good year or a bad year, that often directly correlates to your tax outcome. What we do, one of the number one things we use in preparing a business return with business activity, we pull financial statements from your bookkeeping software. It's kind of important that those are in order and accurate. Can't tell you how many clients come in, we look at their books, there's signs that say they're not accurate, and once we kind of educate the client on that, they go back and sure enough, they were going to overpay in taxes had we not stepped in and showed them, hey, we really need a clear picture here.
