Tax planning is about looking at your taxes before the year ends instead of after. We help business owners and families in Mesa and across Arizona plan ahead, so there aren’t any big surprises when it’s time to file.
What does tax planning include?
- A projection of what you’ll owe for the current year
- Ideas to lower your taxes, like retirement plans, equipment timing or choosing the right entity
- Help setting the right estimated payments or withholding
- A plan for big life events, like selling a business, buying a home or receiving a large bonus
When is the best time to plan?
For most people, fall is a great time. There’s still time to make changes before December 31. If your business income moves around a lot, a mid-year check-in can help too.
Who benefits most from tax planning?
Planning helps most when your income changes, you own a business or rental property, or you have a big life event coming up. And if last year’s tax bill caught you off guard, it’s definitely worth a conversation.
Isn’t that the same as tax preparation?
Not quite. Tax preparation reports what already happened. Tax planning helps you make decisions while you can still change the outcome.
How do I get started?
If you’re new to Fox Peterson, we’d love to meet you. Schedule an appointment online and choose “I’m new to Fox Peterson,” or give us a call at (480) 898-7640. Let us know you’re interested in tax planning, and we’ll get you set up with the right person.
Already a client? Just reach out to your Fox Peterson professional.
