The 2020 tax season is coming to an end. And now it’s time to get a strategy together for this year’s taxes. No, it isn’t too soon.
At OTB Tax, our clients start and end their journey with us each tax season with a Tax Strategy Session. The first one goes over the previous year’s tax information, and the second one is to get a clear plan on what can be done differently to save even more money on the next tax return.
Strategy for Your Business Structure
So, where do we begin with your strategy? Let’s start with understanding if you filed under the correct tax structure. Are you going to need to move from an LLC to an S-Corp for 2021? Do you fall into a different structure altogether?
Check out this link for my video on Tax Structures. If none of that makes much sense to you, know that our team at OTB Tax prides itself on educating people on taxes every day!
Create a Bookkeeping Strategy
How well did you keep your books for the 2020 tax season? If the answer to that question is not so hot, it’s time for a bookkeeping strategy! And no, this isn’t the time to start throwing receipts into a shoebox or start an excel spreadsheet.
I’m talking about actual bookkeeping software that can track your mileage and connect to your bank account and credit cards. This way, you have everything in one place, and it makes tax preparation easier for you and your tax preparer! Let me explain here: Why Bookkeeping is Important.
How to Get Tax Strategy Help
Do you feel like you’d rather do laundry or go to the dentist than try to develop the best strategy for your business on your own?
Don’t worry! Our team at OTB Tax is here to help! You can book a Tax Strategy Session, and we can help get you on the path to a more relaxing and less taxing 2021 tax season!
Click here: Book a Tax Strategy Session With OTB Tax Team.