Good Tax Planning Happens Before Tax Season.
Tax planning gives you the opportunity to understand the tax consequences of important decisions before you make them. I’ll help you look ahead, explain your options in plain English, and make informed decisions while there’s still time to act.
Tax Preparation and Tax Planning Are Not the Same
Both are important, but they serve different purposes.
Tax Preparation
Looks backward and reports what has already happened.
- Organizes and reports last year’s income and deductions
- Calculates the tax resulting from decisions already made
- Determines the refund or balance due
- Focuses on accurate and timely filing
Tax Planning
Looks forward while there is still an opportunity to make informed decisions.
- Estimates the tax effect of upcoming decisions
- Identifies issues before the year ends
- Helps you evaluate available options
- Reduces the chance of an unpleasant tax-season surprise
How I Can Help
Tax planning is not about chasing every possible deduction. It is about understanding how the tax rules apply to your situation so you can make thoughtful decisions with confidence.
Estimate the Tax Impact
Estimate how a major financial decision may affect your federal and state taxes before you move forward.
Review Your Withholding
We can review withholding and estimated tax payments so you have a clearer idea of whether you are on track.
Explain Your Options
I’ll explain the available choices, the likely tax consequences, and the practical tradeoffs in language you can understand.
When Is It Time to Talk?
The best time to ask about the tax consequences of a decision is usually before the decision is final.
- You are considering retirement or changing jobs
- You expect a large bonus, capital gain, or other unusual income
- You are starting, buying, or selling a business
- You are deciding whether to make a major purchase
- You are considering a Roth conversion or retirement-plan distribution
- Your income or family circumstances have changed
- You were surprised by your most recent tax return
- You simply want confidence that you’re on the right track
What Working Together Looks Like
Tax planning does not need to be complicated. The process begins with understanding your situation and the decision you are trying to make.
STEP 1
Start With the Question
We begin by discussing the decision, concern, or life change that prompted you to reach out.
STEP 2
Review the Numbers
I’ll review the relevant tax information and explain how each available option may affect your taxes.
STEP 3
Make an Informed Decision
You’ll understand the likely tax consequences and can decide how you want to move forward.
Questions I Hear Every Day
These are some of the questions I hear most often before clients make important financial decisions.
Do I need tax planning if my return is not complicated?
Not necessarily every year. But even a relatively straightforward return can benefit from planning when your income, family situation, retirement plans, investments, or business circumstances change.
Does tax planning guarantee that I will pay less tax?
No. Good tax planning is about understanding the rules, evaluating the available choices, and avoiding preventable surprises. Sometimes the best decision is not the one that produces the lowest immediate tax bill.
When should I schedule a tax-planning meeting?
Schedule the conversation before completing a major transaction whenever possible. For general year-end planning, meeting before the year ends provides the opportunity to consider actions that may still be available.
Can you help me decide whether to make a Roth conversion?
I can help estimate the tax consequences of a proposed conversion and explain factors you may want to consider. The final decision may also involve investment, estate-planning, and cash-flow considerations outside the tax calculation.
Can you review whether enough tax is being withheld?
Yes. We can estimate your current-year tax and compare it with your withholding and estimated payments. That can help you decide whether an adjustment may be appropriate.
Don’t Wait Until the Return Is Prepared to Ask the Question.
A conversation before the decision is made can provide clarity, reveal the tax consequences, and help you move forward with confidence.
Let’s talk while you still have time to make informed decisions—with confidence.