Tax Planning
Checklist
by Irving L. Blackman
Year-end tax planning is always a
good idea. It might be compared to
fertilizer: It makes your tax savings
grow. It works best when you have
either a new law or a change in tax
rates. This year, you have both.
Three things are essential to
successful business year-end tax
planning session. You should:
Arrange your meeting away from
the office where the tax planning.
team-usually the company's top
decision maker, controller, and
outside tax adviser-will have
enough time to pinpoint financial
and tax objectives and thoroughly
analyze how to meet them.
Gather the essential financial
information-last year's financial
statement and tax return; projected
year-end financial statements for the
current year; and a projected profitand-
loss