Tax Planning for Small Business Owners Who does small business tax planning
Owners get tax help from preparers, accounting firms and Tax CFOs. Here's what each one does, so you can pick the help that fits.
Your choices
A tax preparer files your return after the year ends. Many do good work on the return itself. Planning during the year is usually a separate service, if it's offered.
An accounting firm may offer returns, bookkeeping, planning and signed reports such as audits. Larger firms often price planning as a project.
A Tax CFO plans your taxes through the year, keeps the books current so the plan uses real numbers, and prepares the return from the same books. Steven Palmieri works this way.
What to look for
Ask when they'll look at your year: before December 31, or only in the spring. Ask whether the plan is written down with amounts and dates. Ask who keeps your books, because a plan built on books someone else keeps can drift. And ask what it costs before you start.
What the first call decides
On the free 30-minute call, Steven looks at last year's return and this year's numbers with you. You hear which moves fit: the entity, the salary, a retirement plan, the QBI deduction, estimates, an accountable plan, family payroll and year-end timing. You leave knowing which ones still count this year.
What it costs
There's no fee for the first call. After that, most owners choose a monthly retainer that covers the books, the plan and the year's check-ins, and some choose a fixed-fee project. You see the price before any work starts, and the engagement letter lists what's included.
Questions owners ask about choosing help
Can I keep my current preparer? Yes. We can plan the year with you and share the numbers with your preparer at filing time, or prepare the return ourselves.
Do I need someone local? Most planning happens by video and shared books, so you can work with a Tax CFO anywhere in the country. Steven can also meet in person when it helps.
How you start
Book a time, or send a note from the form below. You can also call the number at the bottom of the page. More about the person on your work is on about Steven Palmieri.
Want to see what a Tax CFO would change?
Tell us what the business does and who helps with your taxes today.
You will be talking to the Steven Palmieri practice.