Tax planning

Tax preparation reports what already happened. Tax planning looks ahead: what income and expenses to expect, what tax that may produce and what choices you have before the year ends.

AD Accounting offers planning for individuals and for businesses. Planning depends on your facts and on current tax law, and outcomes cannot be promised.

• Self-employed people and business owners with income that varies
• Households with income not subject to withholding
• People expecting a major change such as a new job, a sale of property or a business launch
• Business owners who want to see an expected tax picture before year-end

Estimated tax payments

If tax is not fully withheld, estimated payments during the year may be required. We help estimate amounts and review the schedule.

A year that looks different

A raise, a bonus, a business sale or a drop in income can change the tax outcome. A projection helps you see it early.

Business decisions with tax effects

Equipment purchases, hiring, owner compensation and entity choices can have tax consequences worth understanding before acting.

Surprises at filing time

A mid-year review can reduce the chance of an unexpected balance due.

1. Understand the year so far

   We review income, expenses, withholding and payments made to date.

2. Project the year

   Using what is known and reasonable expectations for the rest of the year, we build an estimate of the likely result.

3. Discuss options

   We explain the choices available to you and what each could mean, so you decide with the facts in front of you.

4. Revisit

   Planning is most useful when it is repeated as circumstances change.

The purpose of planning is to make informed decisions and avoid surprises. We do not guarantee a particular amount of tax savings, and results depend on your facts and on the tax law in effect.

Projections are only as accurate as the information behind them. Up-to-date bookkeeping makes planning for a business much more reliable.