It's the time of year where we are preparing for filling last year's taxes and should be planning better for this year. Let's do that. Let's start planning now while it is on our mind and we don't forget the lessons learned, as they are still on our minds.
As a 17 year veteran of the New York City Police Department, Craig Cody knows a thing or two about being proactive. He knows what it means to be prepared and to plan ahead. He has taken that ability to think ahead from the force to the business field. As a CPA and Certified Tax Professional, he is prepared to save business owners real hard earned dollars. In our conversation, a few great points surfaced.
As a small business owner, you must also plan ahead and be proactive in so many areas of your business. Not many are as important as the area of your business finances and specifically your tax planning. Being reactive will certainly find you paying substantially more in taxes than you should be. That could be a significant difference in your overall bottom line.
Some key points to consider:
1. Engage with the right CPA. If your CPA is not coming to you with ways to save you money on your taxes, you likely need to find another.
2. Plan. Simply invest time to craft ideas and make changes where needed to take advantage of the tax saving opportunities.
3. Don't wait and don't delay. Start now so you can make it happen this year.
4. Open lines of communication with all parties involved. This includes your CPA, your Financial Planner, your Business Advisor and your Attorney. If you don't have one of each of these on your team, you are missing expert advice.
5. Understand and stay abreast of the recent tax code changes. And guess what? The changes will keep coming, so engage with the experts.
These are just a few of the points from this episode. Listen in and enjoy the free resource that Craig has provided.
Enjoy the Journey!!
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