Plan your taxes before December, not after April

It is a review of your year while there is still time to change the outcome. Preparing a return records what already happened. Planning looks at the decisions still open: when income and expenses land, retirement contributions, withholding, estimated payments and, for owners, how the business is set up.

The firm's mission puts it simply: lower your taxes, increase your profits, and help you control your cash flow. Planning is where that work starts, and the goal is fewer surprises rather than clever tricks. Most of it comes down to ordinary, legal choices about timing and structure. Read more on the tax planning page.

People whose year looks different from the last one. That includes anyone who:

• started or sold a business
• moved from a salaried job to contract work
• expects a large bonus, a home sale or a retirement distribution
• owns rental property or an S corporation
• paid an IRS penalty last year and wants to avoid another

Even one change on that list can move your tax further than you might expect.

Contractors and freelancers can find more on quarterly payments on the self-employed page.

Earlier beats later, and the autumn months suit many people. By then you know most of the year's income, and there is still time to act. A second check after a major event, like a sale or a new hire, keeps the plan current. If you only have time for one meeting, pick the one before December, not the one after.

Waiting until filing season leaves only the choices the return itself allows.

A simple rhythm is one meeting in the fall and a short follow-up before December 31. Owners with uneven income may want a quick check each quarter as well, so estimated payments track what the business actually earns.

For owners, most planning choices show up on the business return first. Entity type, owner pay, retirement plans and equipment purchases all change the figures that flow to your personal return. Blaga prepares business tax returns as well, so the plan and the filing come from one person. A meeting can also test what-if questions, such as buying a vehicle for the business this year or next, before you commit.

Clean books make all of this easier. If your records are behind, begin with bookkeeping.

Planning for an owner also covers cash flow. Knowing what tax will be due, and when, means the money is set aside before the bill arrives.

Yes, by making sure the right amounts are paid on time so penalties never start. Tax left unpaid after the due date picks up a penalty of half a percent a month, capped at 25% (IRS failure to pay penalty). For 2025 and later returns, the IRS's new Automatic Exemption from Penalty may also apply on its own to some first penalties (IRS administrative penalty relief). A plan aims to keep you from needing either.

If a penalty already landed this year, Blaga can review whether it can be removed. See penalty abatement for how that request works.