The time has changed, the temperatures are dropping and the beaches are now empty. In just a matter of days we’ll smell turkey in the air while enjoying the company of friends and family. But all of this seasonal joy also means something else not nearly as warm or comforting – TAX SEASON. 

Yes indeed – it’s just about that time again! Although Top 2 Bottom does not provide end of year tax services, our team wants to help you better understand the differences between tax planning, tax preparation and tax return filings. As usual, if you have questions you can click the Contact Us link above and ask any questions you might have!

Tax Planning: This is a special service that allows you to optimize the consequences of your financial gains for the year. Proper tax planning requires good financial books to make the most of your planning sessions. Business owners should go into tax season already having met with their CPA or tax professional and have a game plan in place.

Tax Preparation: This process goes beyond just filing in forms – true tax preparation extends into general financial planning. For this reason, professional tax preparers need clean financials to work from in order to deliver accurate tax returns. It’s very common for our Top 2 Bottom team to work directly with our client’s tax professionals to make sure they have everything needed to make tax preparation easy and affordable too. 

Tax Returns: Once you’ve got clean books for the year (thanks to Top 2 Bottom), and your tax plan is established and your tax preparations are complete, then it’s time to work on those tax return filings. If getting your tax returns filed is getting more expensive each year, it might be because poor preparations means more time and effort spent on your returns. We don’t want to cause any undue I.R.S. fears, but inaccurate tax returns can also bring an extra level of attention that most business owners want to do without! 

You don’t already have a good tax preparer? Let the T2B team know! They have plenty of responsive & experienced contacts that they’ve vetted that could fit your business perfectly. 

If you don’t know exactly where to start, get in touch with your T2B representative and schedule some time to talk. If you are not already a T2B client, NOW is the ideal time to reach out! Do not wait until early 2023 to get ready for tax season – now is the time.

Tis the season!