Tax Preparation vs. Tax Planning
Most taxpayers don’t realize there are two very different tax seasons: Tax Preparation Season and Tax Planning Season.
Tax Preparation Season
This is what most people are familiar with. You gather all your tax documents, send them to your accountant, and find out what you owe or what your refund will be. At this stage, the year is already over, which means your options to reduce your tax bill are extremely limited.
Tax Planning Season
Tax Planning Season is when you work proactively with a qualified CPA or tax professional throughout the year to implement advanced tax strategies, not just react to the past.
The wealthiest individuals in the world aren’t waiting until February to think about taxes. They’re planning right now. The reason is simple. The best tax-saving strategies take time to execute properly.
Here are a few examples:
- Paying your kids through your business (the right way) requires structure and documentation.
- Leveraging short-term rental strategies can dramatically reduce or even eliminate your tax bill, but only if set up correctly and ahead of time.
- Setting up investment and retirement accounts for your business helps you build wealth for the future while reducing what you owe to Uncle Sam.
- Using a 1031 Exchange can help defer capital gains taxes when selling and reinvesting in real estate but it requires careful planning and timing.
The common theme? These strategies must be planned and implemented throughout the year, not after it ends.
Why Most Taxpayers Miss Out
Despite tax planning being the most important season, most taxpayers wait until tax prep season to ask, “How can I reduce my taxes from last year?” Unfortunately, by that point, the options are minimal, especially for high-income earners and small business owners.
That’s why at Wiggs CPA Tax and Accounting, we emphasize proactive tax planning all year long.
How We Help
At Wiggs CPA, we go beyond tax preparation. We specialize in working with service-based business owners and real estate investors who want to:
✅ Reduce their tax liability
✅ Stay compliant with IRS regulations
✅ Free up time to focus on growing their business
Our Tax Planning Program includes:
- Quarterly Tax Planning Calls to estimate your upcoming tax liability and identify new savings opportunities
- Ongoing CPA Consultations so you can ask questions year-round and make informed decisions
- Bookkeeping and Payroll Support to ensure your financials are accurate and strategy-ready
This proactive approach allows us to help you implement strategies throughout the year instead of scrambling at tax time.
Our Vision
Our mission is simple: to make sure business owners understand and use every tax strategy they legally qualify for.
The biggest tax you pay is the tax of not knowing. That’s why at Wiggs CPA Tax and Accounting, our goal is to help you:
- Save more money through proactive planning
- Save more time by simplifying your financial processes
- Gain peace of mind knowing you’re always compliant
Ready to Take Control of Your Taxes?
If you’re a six-figure service-based business owner or real estate investor who’s tired of overpaying Uncle Sam, we’d love to help.
Reach out to Wiggs CPA Tax and Accounting today to schedule an introductory consultation and see if our services are a great fit for you.
Stay Connected
Follow @WiggsCPA for tax tips, LLC best practices, and invitations to upcoming webinars.
📅 Next Webinar: Year-End Tax Strategies for Small Business Owners — November 11, 2025
💻 Visit WiggsCPA.com to ask a question or schedule your consultation.
At Wiggs CPA Tax and Accounting, we help you stay organized, informed, and prepared.
Thanks for reading, and see you in the next blog post!
