The tax planning world has been evolving very quickly in the last few months. Needless to say, anyone who felt they had a handle on being proactive is now working with at least one hand behind their back (maybe even two). Accountants that are proactive (a small subset of the overall group) have been very actively communicating with clients who own businesses; self-employed, independent contractors, partnerships and formal corporations. The non-planners have been taking phone calls, the planners have been making phone calls. Later, when the PPP and SBA applications are finished, those same proactive accountants will start working with charitable clients around the new rules that allow for up to 100% of AGI to be taken as deductions. Then, calls to clients with muni bonds, discussing default rates, and on and on. The reactive non-planners will wait for you to call them, and hope the calls slow down. The proactive planners will be calling you with much to discuss . Ask yourself this year; how many calls, emails, texts did I receive from my accountant? If the answer is zero…it’s time for a change! If it’s one or two, think about a second opinion. Proactive planners are what you need. And as the world economy nosedives, you yourself need to step up and be proactive. Good enough is no longer good enough.
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