4 questions to ask your CPA now that your taxes are done

In the world of sports, games are won and lost on the practice field. We do not think it is a stretch to say that the same is true for taxes. It is about preparation.

Now that tax season is over, and before you shelve your tax return for the next 9 months, we suggest you do a little work to prepare yourself financially for this year.

Here are 4 questions you should ask your CPA now that tax season is over.

  • What is my adjusted gross income and marginal tax rate?
  • Do I have any remaining loss carry forwards?
  • Am I eligible for a ROTH IRA conversion?
  • Am I effectively utilizing charitable giving to reduce my taxes?

Tax season is a time of reflection. A rear-facing view (or accounting) of where you have been and what you have done financially.

To take control of your finances, you need to look forward. That is where financial planning comes in.

We are not tax professional, and we can’t do your taxes for you. But when you get the answers to these questions, we are  happy to have a conversation about financial planning strategies.

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