A Tax-Planning Holiday Story

Jim Tinsley . 12.17.19

It’s year-end tax planning time – an opportunity to sit down with clients and discuss taxes for this year and next. It’s also the perfect time to remember the lessons from Dicken’s classic tale, A Christmas Carol…

The Ghost of Tax-Planning Past:

You spent time with your clients, reviewing your standard list of probing questions, covering everything that might be relevant: taxes, accounting, wills, estate plans, projections for the business and related items.

Thanks to your hard work and diligence last year, your clients received large refunds from the many tax credits you helped implement. They are happy and grateful.

The Ghost of Tax-Planning Present:

This year, you will again take time to identify tax credit opportunities. It’s easy, thanks to TaxCredible and its free, online, Tax Incentive Organizer. After answering a few questions within the organizer, you will uncover additional tax incentive gold nuggets associated with training, cost segregation, R&D and more, for the coming year.

The Ghost of Tax-Planning Future:

You’ve learned the value of keeping in touch regularly, offering expert counsel, and ensuring that your clients see you as so much more than just a “tax preparer.” You are essential to their business success and a part of their future. Client turnover plummets, your firm’s revenue skyrockets.

Charles Dickens would be so proud.

Try this out: Take one of your client’s year-end tax plans, get together with them and complete a Tax Incentive Organizer to determine the potential tax incentives with this goal. The Organizer questions will help with next year’s tax planning. Use this link to our online form here.