Tax planning is a proactive process for reviewing and organizing your financial situation in advance of the tax filing deadline to minimize your tax liability and make the most of deductions and credits. The goal of tax planning is to legally and ethically reduce the amount of taxes you have to pay.

Key benefits to tax planning:

  1. Save money on taxes:
    By identifying deductions and credits that you may be eligible for, and by structuring your income and expenses in a tax-efficient manner, you can reduce the amount of taxes you owe.
  2. Avoid underpaying or overpaying taxes:
    By creating a tax projection and regularly reviewing your financial situation, you can ensure that you are paying the right amount of taxes throughout the year, rather than owing a large sum at the end of the year or receiving a smaller refund than you expected.
  3. Stay compliant with tax laws and regulations:
    An accountant or tax professional can assist you in creating a tax plan that keeps you in compliance with all tax laws and regulations, avoiding any potential penalties or fines for non-compliance.
  4. Proactively manage your finances:
    By creating a tax projection and regularly reviewing your financial situation, you can stay on top of your tax responsibilities, better manage your cash flow, plan ahead and make informed decisions.

Start tax planning now

Dunn and Apell Accounting can help you with tax planning by reviewing your financial situation and identifying deductions and credits that you may be eligible for. We can also help you understand the tax laws and regulations that apply to your business or personal finances so that you can make informed decisions about how to structure your income and expenses to minimize your tax liability.

What to expect:

  • Upon request, we can assist in creating a tax projection for the current and next year to help you plan for any potential tax liabilities.
  • We will provide advice on how to legally reduce your tax burden by creating a tax strategy that aligns with your overall financial goals
  • We will ensure that you take advantage of all the deductions and credits you are entitled to.
Schedule an appointment today