Why Outsource Tax Planning? 3 Things You Should Know

There’s always a collective sigh of relief you can hear from small businesses once tax season is over.

There’s no more scrambling for documents, hoping you haven’t missed any deductions, or fear of a letter from the IRS—but there’s also the thought that, “I won’t do this to myself next year,” and “I need to organize this before next tax season.”

But, year over year, as your business grows you’re left with less time to manage your bookkeeping and plan for taxes and you deal with the same thing the following tax season.

When you outsource your tax planning, that doesn’t happen anymore. Before you take the step to outsource, here are some things you need to know and consider:

3 Things You Need to Know About Outsourcing Your Tax Planning

Outsourcing your tax planning saves you both time and money, but there are a few things that you need to consider before you outsource. For example, is your bookkeeping accurate? If it’s not, the suggestions, recommendations, and strategy your tax expert presents won’t be accurate, either.

But accuracy isn’t the only thing to consider. Here’s what you need to know about outsourcing your tax planning:

#1. You’re Always Up to Date

One of the main requirements of a tax consultant is to keep you (their client) current with the constantly changing tax laws, regulations, and requirements.

Tax consultants and experts have specialized knowledge that can uncover deductions and strategies you might miss when filing or preparing on your own. For example, when they announced (and then retracted) the BOI filing requirements this past year and the constant changes left business owners like you unsure of their obligations and overwhelmed with it all.

#2. Less Stress, Less Time

Did you know that the average small business spends over 82 hours on tax compliance? That’s over two full-time work weeks. Working with a tax expert can cut this time in more than HALF.

Add this to the time you save stress-free thanks to professional tax planning and you could plan a two week vacation instead.

#3. Proactive vs. Reactive

Tax planning isn’t limited to tax season—it’s year-round. A tax expert can look at your financial history and performance to help you plan your quarterly tax payments, end-of-year filing, and create a plan for better tax savings.

Having a tax expert allows you to take a proactive approach to taxes vs. the usual reactive.

How to Outsource Tax Planning with a Tax Consultant

Ready to make this past tax season your last stressful tax season? It’s time to outsource! Start by looking for someone who specializes in businesses like yours—they’ll have a better understanding of your industry’s unique challenges and opportunities.

Most importantly, schedule a consultation to see if they’re a good fit. The right tax expert will explain their services clearly, help you understand what accurate bookkeeping looks like, and show you exactly how they’ll save you time and money!

Don’t let another tax season catch you off guard—your future self (and your stress levels) will thank you for taking action now. Want to see if we’re a good fit? Apply and book your consultation here.