Let’s face it, keeping on top of your business finances is a JOB of its own! Cash flow, budgets, retirement, best investment strategies…you get it, a lot to keep track of. And if you get lucky enough to have a good Financial Adviser and a good Tax Accountant, you can have the best advice that both sides can offer.

Two is Better Than One

But why do we even need to have “two sides”? Why can’t we just find one professional that can offer the tax strategies to proactively reduce tax AND a financial advisor to advise you on investments?

The answer is simple, but yet not so simple. There’s a new breed of accountants that are emerging. An accountant that not only files taxes but advises you along the way with your taxes, finances, cash flow and budgets. When you get an accountant that practices that type of forward facing service you bridge that gap between taxes and investments. This is called Advisory.

But you still need a licensed financial advisor to sell you investment products. So while you may be able get the whole enchilada from one place, you won’t get really great advise. So you do need a Tax Advisor and Financial Advisor.

The Perfect Accountant 👌🏽

Let me paint a picture of how a perfect accountant relationship works.

  1. Your accountant creates a formal Tax Plan for you that takes into consideration all aspects of your finances
  2. Each month, they’re reviewing your budget and goals with you and advising you on how to stay on track
  3. Each quarter they’re reviewing the tax plan strategies and making sure they’re still working in your favor
  4. Each quarter you’re reviewing your retirement strategies to make sure you’re on track
  5. The accountant can actually talk to and work with your financial advisor
  6. Each quarter your estimated tax payments are adjusted to only pay what you need to
  7. End of the year your tax returns are filed
  8. Your bookkeeping and financial reports are also taken care of for you throughout the year

Sound like the perfect relationship? We think it’s pretty close…

Tax Planning Explained

In case you’re wondering what “Tax Planning” is I’ll give it to you in a nutshell:

Tax Planning is the process of applying specific tax strategies to legally reduce tax. It’s a formal process that starts with diagnosis and then delivers an actual report with a plan. While everything starts with an initial tax plan, tax planning really takes place throughout the year.

Get Introduced to Tax Planning

I mean come on, why isn’t this industry standard already? And where can you, a Business Owner, find something like this?

I’m here to tell you that you CAN get it 😉. And you’re looking at the company that can deliver this type of relationship to you. Reach out and we’ll chat to see if we can help!

p.s. I wrote this entire blog post from my phone while sitting at the pool! Isn’t technology great?!

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