Happy Labor Day weekend! As we kick off the unofficial start of fall, reminder that NOW is the best time to get your 2024 tax planning done. Proactive tax strategies can help you potentially put more money in your pocket and minimize your tax liability. Your CPA, financial coach and cash flow will thank you!

What are the steps to take?

Get a 2024 tax estimate NOW. Reach out to your dental specific CPA and get a checklist of what she needs from you to get you an accurate tax estimate.

Review tax-reducing strategies. These should include a qualified retirement plan. If you already have a plan, get calculations from your third-party administrator (TPA). If you don’t have a retirement plan, no problem! You can set one up. Ask your CPA if it makes sense for you. AND there may be tax credits available to help offset the startup costs AND contributions!

Review your investments. The silver lining of having losses is to harvest them to offset potential taxes.

Current tax laws can help you! Including Secure Act 2.0 that can help offset your retirement plan costs.

Reach out to schedule your free consultation.

We’re here to help you implement these and other strategies on how to finish 2024 strong and set you up for a fantastic 2025!