In my mind, as you read that sentence, you were thinking “Are you kidding? I just paid
THIS year’s taxes. Why are we talking about 2019 taxes already?” Which of course is my
point. If you’d like to pay less tax than you did this past year, you can’t wait to until late
December to put some strategies in place.
I find that most agency owners have very conservative tax preparers. They’re much more
concerned about making it easy for them than they are in actually giving you good advice about how
to structure your business in the most tax advantageous way. I had a CPA like that and
paid through the nose for years. Fortunately, I realized the mistake I was making about a
decade ago and have cut my tax liability to a fraction of what I used to pay.
There’s no reason why you can’t do that too. We will talk tax strategies in our owner workshop this fall (October) if that’s of interest.
Whether you join us or not — it’s time to evaluate your tax prep pro. If he/she isn’t actively
meeting with you every quarter to review your financials and look for ways for you to protect
yourself from unnecessary taxes, it’s time to go shopping.
We all have to pay taxes but it shouldn’t add up to more than we need to pay.
