Tax planning often slips to the bottom of our financial to-do lists—until a surprise bill or missed opportunity crops up. But behind the scenes, the right process for an ongoing tax strategy can put you leagues ahead, reducing uncertainty and helping you capitalize on changes. On the show this week, we'll walk through the seven stages of tax planning, highlighting key insights and practical actions you can take.

Outline of This Episode

• 00:00 Holistic Tax Planning Overview
• 01:56 Understanding clients' overall current situation and future goals
• [03:11] Importance of staying up-to-date for maximizing client opportunities
• [05:05] Importance of gathering detailed, current financial information:
• [06:50] Identifying tax planning opportunities and potential pitfalls by life stage
• [09:53] Adjusting withholding, making estimated payments, and managing expectations
• [13:19] Identifying and quantifying strategic tax planning actions
• [18:34] Examples of in-year tax planning

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📰 See the full show notes here

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