Your Business Has Grown. Has Your Tax Plan Kept Up?
Your consulting business is having its best year. Clients are renewing, referrals are coming in, and you’re earning more than you did last year.
But you still don’t know how much you can safely pay yourself, what to reserve for taxes, or which decisions need attention before December.
For profitable independent professionals in Atlanta, that’s a reason to start a tax-planning conversation while there’s still time to act.
What should you do before tax season if your business is growing?
Review your current profit, projected annual income, tax payments, and upcoming business decisions before year-end. An accurate return starts with good records; a useful tax plan connects those records to what you intend to do next.
Consider a hypothetical Atlanta consultant expecting $350,000 in annual revenue and $140,000 in business expenses. That leaves $210,000 before taxes and other adjustments.
She’s considering a $25,000 software and equipment investment. She also wants to contribute more toward retirement.
The questions become specific:
- How much should she save for taxes based on her projected income and payments already made?
- How would the purchase affect both cash flow and taxes?
- Which retirement plan options fit her business and goals?
- Does her current business structure still make sense?
The dollar figures illustrate a planning conversation, not a promised tax result. Her answers depend on her full financial circumstances. How Strategic Tax Preparation in Atlanta Creates Long-Term Financial Value
How is tax planning different from tax preparation?
Tax preparation reports what happened. Tax planning helps you evaluate decisions before they happen.
If your income has increased, last year’s payment amounts may need another look. Self-employed professionals may need estimated payments covering income tax and self-employment tax. Reviewing those payments during the year can help identify a shortfall sooner.
At Abundant Returns, tax planning includes reviewing business structure, income, investments, and long-term goals, with quarterly check-ins and year-round access as part of its planning service.
A tax-planning review can be especially useful for Atlanta consultants, agency owners, medical professionals, and other service-based business owners whose income has increased, whose tax payments feel unpredictable, or who are making significant business or personal financial decisions before year-end.
What makes Larisa Humphrey’s approach different?
Larisa brings experience as a former IRS employee, an Enrolled Agent, and a tax strategist serving business owners and medical professionals since 1991.
Her biography also highlights her advanced training through the American Institute of Certified Tax Planners and displays Certified Tax Strategist, Certified Tax Coach, and Certified Tax Planner credentials.
Her Enrolled Agent credential matters: enrolled agents have unlimited representation rights before the IRS, including matters involving audits, collections, and appeals.
Clients also describe the value of understanding their finances. As client Bertina B. puts it:
“Each year I feel like I am learning more and more and I am more empowered.”
What should you bring to a tax-planning consultation?
Bring your most recent tax return, current profit-and-loss statement, estimated payment records, and a list of upcoming decisions.
Include the questions keeping you up at night: Can I afford support? What can I pay myself? How do I plan for retirement while keeping cash available?
Your business has grown. Has your tax plan kept up?
If you’re looking for tax planning in Atlanta, request a consultation with Abundant Returns to discuss how your current income, business decisions, and financial goals fit together.
