Mid-Year Tax Check-in? — Fox Tax Newsletter

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TAX PLANNING TIME!

We love seeing your faces during tax season, but we love it even more when we can help you plan ahead and optimize tax strategies during the current year. It might be suggesting an adjustment to pre-tax benefits or withholdings at your job, timing of big business purchases OR helping you analyze whether there is a better choice of entity for your growing business.

Having an exceptionally good (financial) year?
We'll look for ways to lower income in those higher tax brackets.

Having an unusually low earning year?
We'll look for ways to improve your cash flow NOW! We'll also check if it's a good time to convert some pre-tax retirement savings to Roth (post-tax) to save money in the long-term.

BOOK A CONSULT WITH YOUR ACCOUNTANT NOW

Send us a message via our Online Portal with a little summary of any big changes this year. Please attach any of the following that apply to your situation:

Recent paystubs with YTD summary,
Business Financial reports for the 1st half of 2024
- Or estimates of income/expenses,
Any other items of note:
- New house/spouse/child
- New business or rental properties
- Big changes expected in the 2nd half of the year vs the first

With that, we can set up a projection of your 2024 taxes and find a time to discuss any tax savings opportunities we find.*

Sales Tax Report Deadline: July 20th

If you collect and file sales tax monthly or quarterly, please remember to do so by July 20th. Reach out if you need help filing your report on MN E-services.

ONLINE PORTAL

*Standard hourly consulting rates will apply for tax planning services.