Planning Ahead: The Undeniable Importance of Tax Planning Over Preparation for Business Owners

Send us a text Have you ever wondered how tax planning can significantly reduce your business's tax liability compared to just tax preparation? In this episode, Mike discusses the difference between tax planning and tax preparation. Tax preparation is important and required by law. It only involves reporting your business' previous year's activity to the IRS or your state agency. Tax planning, on the other hand, is a strategic activity done throughout the year that can help reduce the...