While your business might still be recovering from the recent tax season and its many new policies, it’s already time to start thinking about your financial planning for next year. And although the 2019 year is shaping up to be much quieter in terms of big tax-law changes, you can’t afford to get complacent. Here to discuss the 2019 financial strategies your business should be focusing on is David Lerner, Ascent CPA Group.
Time is already ticking away on the 2019 fiscal year, and now is the time to start planning for tax season. A lot of lessons were learned in 2018 with the tax overhaul, and David’s firm had to implement several new strategies with their clients. This is the time of year that businesses should be looking at what they’ve done so far, and start projecting where they will be at the end of the year. They need to start planning for transactions now as opposed to waiting. According to David, pre-planning is the easiest way to mitigate the tax burden.
David advises to at least start the conversation now with your tax planner, so you the appropriate steps can be taken. A lot of David’s clients find that once they begin to peel back the layers of the favorable tax law, they find that they no longer want to pursue that plan of action.
To hear more of David’s tips for successful tax planning and preparations, be sure to watch our entire interview above.
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This has been a JBF Business Media production.