When is the Right Time to Plan for "Tax Season?"
It’s never too early, but it can be too late.
This “Season” In Review
We tend to think of the season from January to April 15th each year as “tax season.” It is an important and busy time of year for most of us and, thankfully, another year of this “season” has come and gone.
The reality, though, is that “tax season” is year ‘round. As we resurface from “tax season” it may be time to reevaluate your financial plan. Look back on your filing for the 2015 tax year and reflect on the outcome. What changes would you like to make? What differences you would like to see next year?
Time = (Saving) Money
Now is the time to discuss solutions to implement with your CPA and financial planner to be prepared for next “tax season.” When you get ready to file for 2016 in 2017, it will generally be too late to plan or make any changes that will take effect for the “tax season” in question. Make time now!
Talk to your advisors to possibly find ways to save taxes. Saving money on taxes means more money for you to save, invest, give and spend.
Make sure all your advisors on your team are working together to help you maximize your income and lower taxes.