Business Tax Planning

Year-Round Tax Advisory Services: The Key to Business Success

Year-Round Tax Advisory Services: The Key to Business Success

As January approaches, there's no better time to begin thinking about hiring a firm to help you with tax advisory services all year, not just during tax season. Year-round tax advisory services can be a game-changer for businesses, providing strategic insights and financial planning options that extend far beyond the annual tax season crunch.

The IRS changes the tax code every year and this, combined with economic shifts, can make it next to impossible for business owners to keep up. The value of having a dedicated tax advisor throughout the year cannot be overstated. Year-round tax advisory services are the hallmark of a comprehensive approach to business financial management -- the majority of these packages include proactive planning, risk management, and bespoke financial forecasting tailored to the unique needs of your industry and business goals.

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Credit: Sturti/Getty Images

One of the main advantages of engaging year-round tax advisory services is continuous financial planning. Instead of being caught in the frenzy of meeting tax deadlines, your business can take a proactive stance, implementing strategic tax-saving initiatives well in advance. This forward-thinking approach facilitates the identification of potential tax advantages, optimization of your overall tax position, and the eploration of avenues for cost savings.

Furthermore, year-round tax advisors are much more than service providers. Your firm will keep a watchful eye on changes in tax regulations and economic trends that could impact your business. This ongoing diligence ensures that your company remains both compliant and well-prepared to adapt to any shifts in the financial landscape. Given the fact that tax regulations change frequently, businesses need to stay agile, and a year-round tax advisor provides the necessary expertise to deal with challenges and capitalize on emerging opportunities.

Collaborating with a tax advisor throughout the year fosters a deeper understanding of your business's financial life -- including any complexities that may need to be addressed. This familiarity empowers the advisor to tailor their services to address specific challenges and aspirations you have. The result is a bespoke approach to tax planning that seamlessly aligns with your business goals, allowing you to achieve more of your dreams.

Some business owners initially balk at investing in year-round tax advisory services because they fear the cost. However, this investment may make or break the long-term success of your business. A tax advisor who develops a relationship with your company will be an invaluable resource for you for year to come. The decision to work with a tax strategist is not about mere compliance; it is a strategic commitment to financial optimization and positioning. 

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Credit: Ariel Skelley/Getty Images

As you embark on the journey of a new year, consider the impact of having a dedicated tax advisor by your side – a partner who not only adeptly manages your taxes but actively contributes to the growth and prosperity of your business.

Feature Image Credit: Grace Cary/Getty Images

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Earl B.  Shanken

Earl B. Shanken

Earl B. Shanken has been a CPA in Arizona for over twenty years. After completing his bachelor's degree in accounting at the University of Arizona, he worked in public accounting in the Phoenix area. Eventually he became a supervisor in the small business division of the firm. He started his own business in 1990 with the intent of creating a firm to provide comprehensive services for small businesses. Earl has devoted his time to establishing that type of service for his clients. He has received the Certificate of Educational Achievement in Estate Planning offered through the Arizona Society of Certified Public Accountants. He is a former member of the board of directors of the Chandler Chamber of Commerce and was recently named "Volunteer of the Month".

MARTINEZ & SHANKEN, PLLC
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