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Tax Planning and Preparation Services
Learn how new clients save $50 on their first-year tax preparation fees! Click here for more information Boelman Shaw & Company offers comprehensive tax planning and preparation services to individuals and small businesses. Tax planning is often confused with tax preparation, with thought given to the subject only when preparing your annual tax return. However, little can be done to actually lower your tax bill at that point. If your goal is to reduce taxes, you need to be aware of tax planning opportunities throughout the year. Early in the Year
Take time early in the year, perhaps as part of the tax preparation process, to assess your tax situation, looking for ways to reduce your tax bill. Consider a host of items, such as what kinds of debt you owe, how you're saving for retirement and education expenses, which investments you own, and what tax-deductible expenses you incur. It often helps to discuss these items with a professional who can review strategies you might not have considered.
During the Year During the year, consider the tax consequences before making important financial decisions. This will prevent you from finding out later that there was a better way to handle the transaction. End of the Year Look at your tax situation again in the fall, which gives you plenty of time before year end to implement any additional tax planning strategies. At that point, you'll also have a better idea of your expected income and expenses for the year. You may then want to use strategies you hadn't considered earlier in the year, such as selling investments at a loss to offset capital gains.
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