Taxpayer Planning

Obtaining professional assistance in setting up your accounting system with a chart of accounts (index to your general ledger also known as your GL) with accounts to record and track your financial progress, and integrate tax compliance requirements for income taxes, payroll taxes, sales & use taxes, and/or other taxes, is a key part of taxpayer planning!
peaceful consultation going between two persons

Keeping your transactions on a napkin or scratch paper, and tallying up figures at the end of the year for a tax preparer, is definitely NOT adequate! Working with an accountant that has a working knowledge of financial accounting, payroll accounting, AND tax accounting, year-round, is the best course of action that any taxpayer could engage in. Jeanine emphasizes the wisdom of businesses, other entities, and high-net-worth individuals/families investing their time, money, and energy, into obtaining year-round tax planning services. Once a year is NOT enough! – to be well-informed about your financial status and to make intelligent decisions about your tax situation.

Owners, managers, and high net-worth families should see their tax accountant, ideally an Enrolled Agent (EA) federally licensed by the US Department of the Treasury, prior to each quarter ending, and in January prior to the income tax season. This is to discuss the status of their accounts, financials, and for the tax accountant to update calculations of estimated taxes due. Planning enables taxpayers to take action before the consequences of not acting set in without any way out of a situation or any way of alleviating an inevitable circumstance. No one should like surprises! – especially surprises that require a large, unexpected drain on their financial resources. Planning can make a difference between an expensive result or a cheaper or non-existent reduction in financial resources.