'Tis the season to start tax planning discussions with your CPA if you own a small business. No matter the size of your business, think big and think long-term. What do you want this business to look like in 2, 5, or even 10 years? Have you talked to professionals to lay that financial and legal groundwork from day one? I tell all of my small business clients that the first 10 months of the year should be solely focused on growing your business and making it as profitable as possible, with minor tax discussions along the way. In the final two months, we then focus on tax planning and making decisions that have to be made before the clock strikes midnight on December 31st. I hate tax surprises as much as the next guy and the last conversation I want to have with clients is one about a large tax bill in March that we could have planned for in November.
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