Question of the Week
Help With Your Mid-Year Tax Review
Hey all! Happy Friday!!
I can’t believe we’re nearing the end of the month and will be halfway through 2023 in a couple of weeks. You know I’m a big fan of the mid-year review. In particular, I think it’s a great time to compare where you are in 2023 to your 2022 tax return.
I know, I know…looking at your tax return is one of the last things you want to do right now, but it’s a good guide to help you get to where you want to be. How does your gross and net income compare to last year? Are there expenses that you can eliminate, reduce or increase? Have you made enough in estimated tax payments?
You can glean so much information from your return. To help you do that, I’ve recorded two MDB episodes that walk you through your 1120-S and 1040 tax returns. Hopefully, that will make reviewing and assessing your tax return much easier.
Quote of the Week
“From the moment you start tidying, you will be compelled to reset your life.” – Marie Kondo
Task of the Week
Take 40 minutes sometime within the next week to listen to the 1120-S and 1040 review episodes and see what information you can get from your tax return that you may have missed before. And don’t forget the middle of the year is a great time to assess where you are and make any necessary changes. And if you’re feeling extra ambitious, you can listen to my previous mid-year review episode here.