📊 October Is a Great Time for a Tax Checkup

Tax season may still seem months away, but October can be one of the most valuable times of the year to take a closer look at your taxes. Waiting until tax season to discover a problem often means your options are limited. Reviewing your finances before the end of the year gives you time to make informed decisions while there may still be opportunities to act.

Howard Dagley, CPA helps individuals and businesses throughout the Santa Clarita Valley, San Fernando Valley and Los Angeles take a proactive approach to taxes and financial planning.

Don’t Wait Until December 31

A year-end tax checkup starts with understanding where you stand today. Has your income changed? Are your estimated tax payments on track? Have you kept up with deductible business expenses and financial records?

October gives you time to review those questions without the pressure of an approaching filing deadline.

For individuals, a tax review may include looking at income, withholding, estimated payments, retirement contributions and significant financial changes that occurred during the year.

For business owners, the conversation can include income and expenses, bookkeeping, estimated taxes, equipment purchases and other year-end decisions that could affect the business tax return.

💼 Business Owners: Know Your Numbers

Accurate financial records aren’t just for tax season. They can help you understand how your business is performing throughout the year.

Howard Dagley can assist with bookkeeping and financial statements, helping business owners get a clearer picture of income, expenses and overall financial performance.

October is also a good time to discuss whether your current business structure continues to make sense. Howard provides guidance regarding LLCs, S-Corporations, C-Corporations and 501(c)(3) organizations, depending on the circumstances and goals of the business.

💰 Review Your Quarterly Estimated Taxes

If you’re self-employed, own a business or receive income that isn’t subject to regular withholding, estimated tax payments can be an important part of your tax planning.

Rather than discovering a large unexpected balance when you file, reviewing your estimated payments before year-end can help determine whether adjustments may be appropriate.

A little planning now can make April considerably less surprising.

🗂️ Get Your Records Organized Now

Tax preparation becomes much easier when your financial information is organized before filing season arrives.

Use the final months of the year to gather receipts, review business expenses, reconcile financial records and identify anything that’s missing. Business owners should make sure their bookkeeping accurately reflects what has happened during the year rather than trying to reconstruct everything months later.

Think of October as the dress rehearsal for tax season. It’s much easier to fix the scenery before opening night.

📅 Tax Planning Should Be a Year-Round Conversation

Tax preparation looks backward at what already happened. Tax planning looks forward at what you may still be able to do.

That’s an important distinction.

Working with an experienced CPA before year-end can help you better understand your financial position, prepare for upcoming tax obligations and make decisions based on your individual circumstances.

Howard Dagley, CPA Can Help With:

Personal & Business Tax Preparation • Quarterly Estimated Tax Planning • Business Entity Selection • LLC • S-Corp • C-Corp • 501(c)(3) • Bookkeeping • Financial Statements • Year-Round Tax Planning

📍 Serving Santa Clarita Valley • San Fernando Valley • Los Angeles

📞 Call Howard Dagley, CPA at 1-661-255-8627

DON’T JUST PREPARE YOUR TAXES. PLAN FOR THEM. 📊

October is a great time for a tax checkup. Make the call now, while there’s still time left in the year to plan.

Howard has also consulted for a number of extremely notable companies and brands such as Tiger Air, House of Fabrics, Johnny Rockets, Authentic Fitness (Speedo), Uncle Milton’s Ant Farms and Lucky Brand Jeans. Howard Dagley is proudly serving businesses & Individual tax payers in the Santa Clarita Valley, San Fernando Valley & Los Angeles areas. He provides one on one tax, accounting and business related services to SoCal residents.

CPA In Santa Clarita, San Fernando & Los Angeles – Howard Dagley, CPA: | 1-661-255-8627 | cpasantaclarita.com