Annual Tax Preparation and Tax Planning
Annual tax preparation and tax planning are two key services designed to help our clients avoid tax problems and keep their tax liability as low as possible.
Annual Tax Preparation
Annual tax preparation is exactly what it sounds like – doing your yearly taxes. One of the best strategies to stay out tax trouble and avoid having tax problems is to file your taxes every year on time. Strategic Tax Resolution will not only get you on that Road to Resolution, but we can help you stay there through annual tax preparation.
Tax laws change. And as CPAs (as well as Tax Resolution experts), the team at Strategic Tax Resolution stays on top of all the important tax information when it comes to preparing your individual or business tax returns.
You may be wondering what we mean by “tax planning.” All you have to do with taxes is save your receipts, fill out the right forms and send it in by April 15th, right?
Not even close.
Tax planning is a proactive strategy to minimize your tax payment as much as legally possible. It is something that is implemented throughout the year, not just the week before taxes are due. It is making use of all of the best information to structure your financial world in such a way as to reduce your tax liability as much as possible (without any red flags, grey areas or creative accounting).
Tax planning starts with a deep analysis of your income and expenses as well as your financial position. It’s about asking questions like “Are you in the right retirement plans in order to have less tax liability down the road?” and “Is my business organized correctly to minimize my tax expense?” The goal of this analysis is to find every legal deduction, credit and strategy available to you well before you file.
From there, it becomes all about working that plan. The key to saving on your tax expense is to start your strategy early and stick with it.