Would you like to know if you are going to have a tax bill next April?
We are offering a fixed-price Mid-Year Review to clients who want to estimate their tax results ahead of time.
We gather information about your year-to-date financial results, and, using some assumptions and your expectations for the remainder of the year, we extrapolate what the total year will look like. From that we evaluate the total tax payable for the entire year versus the expected tax paid during the year and identify if there is a shortfall or a surplus for you. It is not an exact science, but we have had a lot of success helping clients plan for a tax bill with eight months’ lead time!
We have found that small businesses benefit from this the most as they generally don’t pay a lot of tax through the year. The real benefit is having the time to come up with a strategy to address the upcoming bill.
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