How tax planning can benefit your business this year


What is tax planning?

Tax planning is the analysis and strategy of a person’s or businesses financial situation to maximize tax breaks and minimize liabilities in a legal and efficient manner.

Why should you do yearly planning?

If you dread to see the “taxes due” amount on your tax return, then tax planning should be something to investigate. Simply, it can save you money. By working with an accountant, you can create a tax strategy that ensures that you are minimizing your tax obligations in every way. Avoid costly mistakes like missed tax payments and late filings.

The more efficient your business is the more profitable it becomes. Keep every hard-earned penny!

How does tax planning work?

By working with an accountant, they will walk you through a process, which typically consists of the following:

1. Planning – Review of your current situation. Find the gaps and inefficiencies where tax and money can be saved.

2. Implement the best planning option for you and your business

3. Preparation of your tax Returns.

Some things to consider are timing of planning, amount of income, business size, as well as expected purchases or expenses before year-end.

Tax strategies vary but some can include reviewing your entity type and tax filing status.

When should it be done?

Tax planning really should be done well before your tax returns are prepared and filed. We tax plan at the midway point of the year (June/July) and review it again at year-end (October-December). This is because it gives you time to set up, implement and review your tax strategy.

If you think you can tax plan right before or during your return being prepared, you have got it wrong. Timing is a huge factor in tax planning. Planning for your business should be a year-round activity, with your tax returns being the result of a year’s worth of hard work and planning. Be proactive and avoid planning at the last minute before it is too late to make any adjustments to save money.

We always suggest planning and to act early to save later.

Here is an example we had with two clients that cut their tax bill down by over 90%

Disclaimer: This is a real example with real clients,  but everyone’s tax situation is different, so you can not expect to see the same exact results, but you can still expect a much more efficient tax year when you do planning!

Do you think you would benefit from tax planning: set up an appointment with us today 


Your Guide to Set Up Subcontractors the Right Way

Are you having trouble collecting information from your subcontractors? Download our “Subcontractor Checklist Packet” to know what you need from them for 1099’s, workman’s comp, and liability audits. We’ve even included a contract for reduced liability!

Justice Bragg

Business Development Specialist, Florida

At work, Justice is passionate about helping the team make decisions and connections that propel the business forward. He prioritizes client satisfaction by serving as a medium to facilitate communication to the proper channels making sure every issue is properly addressed.

Outside of work, Justice enjoys exercising by going to the gym and playing pickleball with his friends. He is a self-proclaimed foodie who can’t say no to trying a new restaurant, sometimes even immediately regretting it.

Zachary Williams

Staff Accountant, Florida

At Level Accounting, Zach is responsible for bookkeeping & payroll. He is dedicated to ensuring financial success for our clients.

Beyond the office walls, Zach’s weekends are filled with adventure, whether he’s exploring Florida’s hidden gems with his wife or battling it out in tournaments. When it’s time to unwind, you’ll find him at the movies or casting his line out for a relaxing fishing session.

Melanie Jerome, MBA


Meet Melanie J, one of our senior staff accountants! Melanie ensures your financial health with precision and expertise. Beyond the office, she’s a true crime enthusiast who loves traveling and outdoor adventures. Whether she’s balancing books or exploring new trails, MJ’s dedication and skill set the standard for excellence in our team.

Seren Lunsford, MBA


Meet Seren, one of our dedicated staff accountants here at level accounting! She is responsible for bookkeeping & payroll. Outside of the office, you can find her on the sidelines of a soccer pitch, karting track, or baseball diamond, cheering on her two active boys. Seren is also a proud owner of two gentle giants, her beloved Great Danes. In her downtime, she channels her creativity into baking and decorating sugar cookies, always eager to experiment with new baked goods ideas and recipes. With her expertise in accounting and her passion for family, pets, and baking, Seren brings a unique blend of professionalism and warmth to our team.

Ivette Rivera


Ivette Rivera is our Executive Assistant at Level Accounting, juggling schedules and keeping things running smooth.

When she’s not crushing it at work, Ivette is an avid participant in her church community. As a mom, she’s all about those quality moments, whether it’s baking up a storm, hitting the water for some kayaking fun, or just chilling with a good book or binge-worthy show. And let’s not forget her partners in crime at home: Harley Quinn, the fridge-raiding pit bull, and Atlas, the cat who rules the roost. Ivette’s all about that balance between work hustle and personal bliss.