What exactly is year-end tax planning? This phrase comes up as something important to do, something business owners must do, but no one ever tells you how HOW to do it. It can make the time between Thanksgiving and the New Year something to dread, especially when you feel like you should be doing more, yet you're unsure what that "more" is.
I want to simplify that for you. Here are my 3 quick tips to simplify year-end tax planning for your business along with the reasons tax planning matters.
1. Focus on what you can control now
Whether it has been a better or worse year through November 30, the truth is there are only a few things you can do between now and the clock striking midnight on December 31 that will make a difference in your bottom line.
Here are a couple: