Want to stop treating taxes as something you deal with after the year is over?

On the latest episode of Jet Setting Wealth Advisory, David T. Yu speaks with Steven Jarvis, CPA and CEO of Retirement Tax Services, for an insightful conversation on proactive tax planning, tax strategy, and the importance of integrating taxes into a comprehensive financial plan. Steven explains the difference between tax preparation and tax planning, why every taxpayer needs a tax plan, and how business owners and high-income earners can benefit from planning before year-end or a major liquidity event. The conversation also explores tax strategy red flags, aircraft bonus depreciation, donor advised funds, and how financial advisors and CPAs can work together to create better outcomes for clients.

Key Takeaways:

→ Tax preparation looks backward, while proactive tax planning looks ahead

→ Every taxpayer has a tax plan, whether intentional or accidental

→ Business owners should begin planning well before a liquidity event

→ Tax strategies should be evaluated for both their benefits and potential risks

→ Strong collaboration between financial advisors and CPAs can improve client outcomes

More from Steven Jarvis and Retirement Tax Services:

Website:retirementtaxservices.com

LinkedIn: linkedin.com/in/stevenajarvis

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Visit: DTY Wealth Planning Solutions