Are you tired of stressing about taxes? Here’s the secret to a stress-free tax season:

Proactive Planning

Having a tax plan takes the mystery out of tax season. Having a plan in place and sticking to it means there are no surprises when the deadline arrives.

We can’t stress enough how important it is to strategize for each year’s taxes BEFORE the year is over. A good plan will estimate what you will owe, what you need to do before year end, and when to pay your taxes. Then when the year is over, your accounting team can execute the plan with no need to rush or stress about deadlines.

The Steps to a Stress-Free Tax Season

STRATEGIZE

A stress-free tax season starts with a meeting with your preparer. A lot goes into this meeting, like:

• A business projection: how much is your business going to make this year?
• Your wages: how much are you expecting to make? How much are you paying yourself through your business?
• Retirement: what are your retirement funding options? What makes the most sense for you?
• Large asset purchases: Are you buying a house? A car? Any large business equipment?
• Family changes: Has there been a recent death or birth? Are you receiving an inheritance? Are you moving?

Basically, this is a review of your ENTIRE financial life. Taking a look at the whole helps us plan for how you’ll be effected on a personal level. And this isn’t just planning for one year – an effective tax plan will set up your financial future well beyond the one year mark.

COMMUNICATE

Your tax preparer helps you make a plan, but may not be the only person who helps in the execution of the plan. To guide you towards a stress-free tax season, you may need to talk to other people on your team like your financial advisor, credit lenders, or attorneys.

If you’re an Encurio client and take advantage of our monthly services, we take this burden off your plate. After putting together a plan, we collaborate with any outside professionals for you. This way, the plan moves forward without a hitch. You don’t have to deal with the mechanics of putting the plan in place.

PAY

Lastly, it’s important to schedule your estimated tax payments. This can look different for each person. If you’re an Encurio monthly client, we handle the timing and execution of these payments for you. No more digging through bank statements trying to figure out what you paid – we keep all the confirmations in our secure portal so we have them for tax time.

Set Yourself up for Success

Being stressed about tax season is normal! A lot goes into making an effective plan, but having a strong team in your corner helps. Good planning is the secret to a stress-free tax season. If you think Encurio might be the team to have in your corner, set a meeting with us to learn more.