Year end meetings are encouraged. In many instances the preparation of a tax return is a reactive process. We strive to make it more of a proactive process. According to one financial advisor, at the time of the appointment the year usually has passed and we work with what already happened in bringing you the highest possible return within the law (one of the few tax-saving strategies after the calendar year is over being related to IRA contributions, as you will have certainly learned if you had taken some tax planning courses).
- One way we make the process more proactive is at the time of the appointment interview. We take the time to talk about the current tax year (to be filed next year) and make projections based on your expectations for income, expenses and other tax-sensitive events. We are available year-round to answer your questions whenever they arise.
- Another way to be more proactive is by encouraging year-end meetings. Such a discussion gives us the benefit to devise a strategy and help you act before January 1st to take advantage of tax-saving strategies in response to recent financial events in your affairs or recent changes in the tax laws. The federal lawmakers historically pass all the tax related changes by October-November and many of them are retroactive to January first of the current year. After these changes are established, we prepare our annual newsletter and send it out to all our clients before the Holidays. The newsletter contains a brief explanation of some of the most important changes and gives you a chance to act before year-end and save some hard-earned dollars.