Hello Reader,

What takes a bit of planning?

Honestly, everything. Every little bit that happens takes at least a little bit of planning. From the mundane, daily, small choices (what creamer do I want in my coffee? Do I want sweetener? Sugar, honey, or something else? Will I need a sweater today?) to the bigger, more esoteric questions of life, the universe, and everything. It all takes a little bit of planning.

Tax return preparation is no different. From sending an engagement letter to building up how documents are gathered to inputting the information into tax prep software to delivery, every aspect of preparing a tax return takes a bit of planning.

I plan all of this for resiliency - for myself and my clients to be less than perfect. Less than ideal. To need more help and support. To need more things explained more thoroughly. Nothing is ever perfect, and that's okay.

Even with this baked in resiliency, tax season and tax return preparation in general is bound to get bumpy.

When tax season and tax return preparation gets bumpy, it's sometimes because there's a true, unpredictable surprise. But, more often than not, a client needed support during the year but didn't take advantage of it. New clients especially may not have had access to that additional support in their past.

From mid-year check-ins to projections and planning to coordinating with their financial advisor to recording their transactions in the most best right manner, these small and sometimes irritating necessities need to be addressed. It will make tax season smoother for them.

I want my clients and you, Reader, to take advantage of planning opportunities. Even if you're not a client, don't intend to become a client, have always and will always self-prepare, I still want you to think ahead just a little bit to next tax season so you're not having to make big changes when you're trying to prepare and file your tax return:

• make sure all of your bookkeeping is at/with your bookkeeper;
• if you have a life event that may necessitate a filing status change, talk to your tax professional now;
• are you understanding that S-Corp election you made and how it impacts you?;
• are you meeting your retirement savings goals?;
• do you have follow-up on estate planning, including planned gifting, to do?;
• and so very much more.

Asking these questions now, as summer approaches and there's plenty of year ahead of us, gives you the ability to make informed decisions on these and other actions.

Clients who work with me on their planning get small actions they can take now that are immediately relevant to them and that ease their tax return preparation next year.

Planning takes the sting out of what needs to be done. It sets us up for success. It also makes those bumps that happen easier to navigate.

It doesn't just give this to me though. It gives it to my clients, too.

While at least some of the tax industry is moving toward, "forced planning," or required annual/monthly subscriptions to work with a firm and there's many sticking with the once a year tax return preparation and planning as necessary, I'm sure there must be something in between. Something that reduces surprises for both sides of the equation while not over-burdening clients with services they don't value and/or feel they need or want. Do you know what that is? Are you also exploring or contemplating an in between?

For now, I'm back to tax returns for the afternoon. Maybe I'll uncover a bit of brilliance.

Until next time (next week-ish? Same place. I always have coffee.)

Megan