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How Often Should You Meet With Your Tax Accountant?

Think you should meet your tax accountant just once a year? While that might work for some tax-savvy individuals, many find that only meeting during tax season can lead to stress and extra tasks.

At STA, we champion regular check-ins, whether you're a business owner or filing individually. Dive into this post to discover the benefits!


Business Taxes: Monthly, Quarterly, or Yearly?

For business owners, the frequency of meetings with your tax accountant can vary depending on the size and complexity of your business. For example, the number of employees, level of cash flow, etc.

Let's say, you own a small jewelry boutique specializing in handmade pieces. In what events would you need to meet with your tax accountant monthly? quarterly? annually?


Monthly Meetings:

  1. Cash Flow Management: Monthly meetings help closely monitor cash flow, which is crucial for ensuring you have enough funds to cover expenses like materials, rent, and payroll.

  2. Tax Deductions: Monthly meetings ensure that you maximize tax deductions, including expenses related to materials, equipment, and other business-related costs, which can reduce your overall tax liability.

  3. Ongoing Financial Health: Maintain continuous communication with your tax accountant to monitor the financial health of your business and make informed decisions.


Quarterly Meetings:

  1. Cash Flow Analysis: Quarterly meetings offer an opportunity to analyze cash flow over a three-month period, identify trends, and make necessary adjustments.

  2. Estimated Taxes: For regions requiring quarterly estimated tax payments, these meetings ensure compliance with these payments and help manage cash flow accordingly.

  3. Ongoing Communication: Keep open communication with your tax accountant to stay informed about your business's financial status and make informed decisions.


Yearly Meetings:

  1. Year-End Tax Deductions: Annual meetings provide a comprehensive review of available tax deductions, ensuring you've accounted for all expenses that can reduce your tax liability.

  2. Annual Cash Flow Review: It's the ideal time to review your annual cash flow, make strategic financial decisions, and prepare for the upcoming year.

  3. Adaptability: Be adaptable and willing to adjust the meeting schedule as your business's financial needs and complexity change over time.

In this scenario, the jewelry business can benefit from monthly meetings to manage cash flow and tax deductions.

Quarterly meetings provide an overview of cash flow trends and ensure compliance.

Annual meetings focus on comprehensive tax preparation and year-end financial reviews, with open communication and adaptability being key to maintaining the financial health of the business.

The ideal meeting frequency can evolve as your business grows and changes


Individual Taxes:

For individual tax filers, an annual meeting schedule is most common. Annual meetings can be very sufficient as they

  • Align with the standard tax cycle

  • Allow for a comprehensive review of your financial records and tax documents

  • Provide enough time for tax planning and strategizing (tax saving strategies, deductions, credits, etc)

Regular meetings with your accountant ease the process of tax preparation, making it less overwhelming when tax season arrives.

The frequency of meetings with your tax accountant is a choice influenced by your financial situation.

Some individuals with complex financial situations, significant investments, or frequent life changes may benefit from more frequent meetings, such as quarterly or even semi-annually.

It is very important to find the timeline that best suits you to allow your taxpayer to aid you in any way possible!


While business owners can choose from monthly, quarterly, or annual meetings based on their needs, for individual taxpayers, an annual meeting is often the norm. However, as tax accountants, we want to hear from you! Open communication and well-organized records are vital.

These meetings are essential for maximizing tax efficiency and ensuring YOUR financial well-being. Therefore, we hope you have a heart-to-heart with your tax accountant throughout the year because when it comes to your finances, we're all ears, not just during tax season!


Schedule a FREE 15-minute consultation to get connected with a Tax Accountant TODAY

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