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Avoid Being a Victim at Tax Time
By Sherri F. Mahoney-Battles, EA
For over twenty-five years I have been preparing tax returns for small business owners. My goal has always been to minimize the stress that many people associate with their income taxes, and empower these clients so that they do not feel like victims at filing time.
The best way to avoid feeling like a victim at tax time is to be armed with knowledge.
Learn what your tax deductions are. Learn also what your filing requirements are and find a tax advisor that you trust who will keep you informed about deadlines and tax law changes. Tax planning allows you to make beneficial decisions that could end up saving you thousands of dollars on your tax return. When you learn how you are being taxed you will learn how the business purchases that you make before the end of the year can drastically reduce your tax bill.
A large focus of my tax practice has been devoted towards educating taxpayers. The more I have educated and empowered clients the more I have developed long lasting and trusting relationships. Clients call with questions and schedule regular meetings to review their tax situation. Most importantly, I view each client’s tax situation as an opportunity to plan and inform.
Tax preparation is more than just the filing completed during tax season, it’s the planning we do during the year that culminates in a successful filing during tax season. When a taxpayer is informed and prepared their stress is reduced, they make informed decisions, and they are no longer victims of their tax situations.
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