Today, Shannon discusses the importance of having a strong collaboration between tax and accounting professionals in order to maximize finances. She explains the distinctions between tax professionals and accountants, emphasizing the need for bookkeeping and financial statements to be properly managed and shared with the tax pro. Shannon highlights the value of consistent financial updates throughout the year, likening it to regular weigh-ins for a successful weight loss program. She explores the pros and cons of sourcing both tax and accounting services from the same place, and advises listeners on how to prioritize industry focus or end-to-end service. Tune in to gain valuable insights on optimizing your financial operations.

What you'll hear in this episode:

05:39 Procrastination complicates professionals' workflow, creates urgency. 06:57 Consistent bookkeeping enables informed decision making. 12:46 Decide industry focus or service-based approach. 14:18 Choose selectively who handles your financial affairs.

If you like this episode, check out:

Unlocking Business Success: Mastering the Art of the Accountable Plan

The Truth Behind TikTok Tax Strategies

Harness the Benefits of an Accountable Plan in Your Business

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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.