Tax Planning - Membership

Tax planning is like putting together a puzzle for small business owners, entrepreneurs, and big companies to make their money matters run smoothly. It's important to plan ahead to get the timing just right. Our Tax Strategists can help you figure out when to make financial moves and how they will affect your taxes. They can also help you think about all the tax stuff you need to consider before making big money decisions. If you work with them all year, they can tell you when new tax rules mean you need to change your plans.

Keep track of your money decisions all year long by saving your receipts. When you do your taxes, you can choose between the standard deduction or itemized deduction to figure out how much of your income is taxable. The standard deduction is a set amount of money that the government lets you subtract from your income without needing to show proof.

But sometimes, your actual expenses might be more than the standard deduction. In that case, you can pay less in taxes by using the itemized deduction method. To do this, you'll need to show receipts and other documents to prove you spent the money you're claiming as tax-deductible.

Find a system to keep your receipts organized and start saving them for possible tax deductions. Even if you go with the standard deduction, it's good to have your receipts handy. That way, you can decide which deduction method will save you the most money when it's time to file your taxes.