Business By The Books with Danielle Hayden The Secret to a Stress-Free Tax Season for Your Business - Ep 179
Does tax season sneak up on you every year? Consistent communication with your CPA can save you both time and money, and Sarah Quinlan and Kelsey Chester of KSA Tax Partners join CEO Danielle Hayden in this episode to explain how. They discuss the importance of tax prep calls and mid-year check-ins to ensure your business is ready to tackle tax season, capturing all deductions, and complying with IRS guidelines.
By the end of this episode, you'll know how to access your reasonable compensation report, avoid costly tax mistakes, and work effectively with a tax advisor. Tune in now!
Key Takeaways:
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Learn the KSA Tax Partners framework for strategic tax planning and client engagement.
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Find out how mid-year check-ins can help you avoid tax liabilities and optimize your financial strategy for the rest of the year.
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Understand reasonable compensation, how to get your reasonable compensation report, and ensure you meet IRS requirements to maximize tax benefits.
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Discover your role in preparing your business for tax season and communication with your tax team.
Topics Discussed:
The purpose and benefits of tax prep calls (1:12)
Why KSA Tax Partners does client return reviews (5:47)
Leveraging mid-year check-ins to plan ahead and manage tax liabilities (9:04)
What to expect from a mid-year tax check-in call (12:52)
The importance of reasonable compensation (15:09)
Utilizing the benefits of being an S Corp (17:29)
How to be proactive in your business's tax planning strategy (19:38)
Resources:
Learn more about the services at KSA Tax Partners! https://ksataxpartners.com/
Connect with Kickstart Accounting Inc.:
Instagram | https://www.instagram.com/Kickstartaccounting