Whether you’ve been in business for years or are filing small business taxes for the first time, you’ve got ideas of wealth and a dream of what you want to do with it that likely has nothing to do with paying taxes. We get it. It’s a necessary part of doing business, but it doesn’t have to be an exercise that’s exclusive of a wealth building exercise.
In fact, if you want to achieve your goals faster and more effectively, it should be integrated with tax preparation. Have you ever stopped to ask yourself the following question: Is my small business tax preparer prioritizing my long-term wealth building plan? It’s a good question – one that doesn’t have to have a scary or unclear response.
Well, that’s actually a pretty straight forward thing to figure out. It comes down to a few questions, ones for you and ones they may or may not be asking you.
First let’s start with some questions.
Has your small business tax preparer asked about your long-term goals?
Have you co-created a plan to get there?
Have they brought to you fresh and innovative ideas about tax savings, wealth-building, investment options and ideas for retirement?
Are you hearing from your small business tax preparer throughout the year, and not only during ‘tax time?’
Now, let’s look at the results you’ve seen since beginning to work with them.
The real opportunity that is often missed is having someone prepare your taxes that has a strategic mindset about making your money work for you. And that can and should start from the very beginning of your small business. Tax preparers can also be thought of as your business’s personal internal auditor, ever diligent in making sure your money is performing the way it can and should be for you.
Are they following up periodically on the plan you co-created and assessing any adjustments that may need to be made?
Are they bringing you new investment opportunities and strategies when the market shifts and proactively predicting changes that may positively or negatively impact your money performance?
Do you have a collaborative relationship, one where they listen and respond to your concerns and questions and provide you with the right level of detail for your peace of mind?
On the other hand, if you’ve been in business for years – it’s never too late to start getting innovative with your investment strategy. At Clem Collaborative, we bring together the tax expertise and investment strategies that integrate past and present compliance with short and long-term future returns. Can you say that about your current small business tax preparer?
Now, if filing small business taxes for the first time, you may right now be only interested in what’s right in front of you. That’s understandable, but it’s also a very common mistake. Learning how to file taxes for small business owners shouldn’t only be about gathering documentation and putting numbers on forms because that perspective only deals with the past – it’s simply getting your business into compliance.
No matter if your primary reason for choosing your line of work has to do with the money it brings in or following your passion, you still chose a for-profit venture so that it could sustain and support both your life and the work that you love. Make sure that you are working with a small business tax preparer that understands your goals and is helping to make your money work for you so that you can focus on what you’re great at.
At Clem Collaborative, tax planning and preparation, financial planning, and money coaching is what we’re great at. We enjoy problem resolution. It’s exciting seeing how all the strategy comes together and creates a bigger value picture for our clients. We care about our clients and all the reasons behind doing what they do. We’d love to find out what that is for you.
Give us a call at 843.214.2747 or schedule an appointment to see whether we should collaborate. A simple conversation might be just what you need to feel a sense of empowerment with your money – which is exactly where we want each and every small business owner to be.