- Do you review tax strategy before the year is over?
- Does your advisor understand your entity structure?
- Does anyone model business decisions before you make them?
- Do you know how much personal profit you can safely take home?
- Are investment decisions coordinated with tax reality?
- Are retirement contributions connected to your business cash flow?
- Do your CPA and advisor communicate proactively?
How to use the checklist
Mark each question as “yes,” “no,” or “unclear,” then identify who owns the follow-up. A “no” does not prove that a tax opportunity was missed. It shows that the planning process may need a clearer owner, deadline, or handoff.
Compliance and planning are different jobs
Tax preparation generally records what already happened. Tax-aware financial planning looks ahead at cash needs, account types, investment gains and losses, retirement contributions, charitable decisions, and business choices. The CPA, advisor, attorney, and business team may each hold part of the answer; coordination is what keeps the parts from working at cross-purposes.
Three questions to assign before year-end
- What decision must happen before December 31? Name the decision, the data needed, and the responsible professional.
- What does the advisor need from the CPA? This may include the latest return, estimated income, carryforwards, basis information, or entity changes.
- What does the CPA need from the advisor? This may include realized gains, planned transactions, contribution amounts, and withdrawal needs.
The point is to use the numbers to build more freedom, not more financial noise. Continue with why an advisor may need to review your tax return and how CPA and advisor roles differ.
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