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"Do I owe taxes this year, and how much?"
That’s usually the first question we hear. And it’s a fair one. For us at ConnectCPA, year-end meetings aren’t simply diving into what’s owed. It’s a chance to step back, zoom out, and turn a client’s financial results into a forward-looking strategy.
Here’s how we approach these meetings and why clients often leave with more than just answers. Our hope is that they leave with clarity, confidence, and in some cases, unexpected opportunities.
1. Preparation That Adds Value
We typically schedule year-end meetings 1-3 months after year-end. By then, reconciliations are complete and statements are ready.
Traditionally, corporate tax returns aren’t due until six months after year-end, which means many firms wait until close to the deadline to file. We prefer to be proactive. Our goal is to get business owners their financial information quickly so they can make decisions with fresh numbers.
Because we manage the full financial process for many of our clients - bookkeeping, payroll, taxes, and more - we’re able to keep things reliable, on time, and moving smoothly. That control means we can close the loop faster, run reports sooner, and file without delay.
On our end, we prepare differently than most firms: we bring both numbers and context. That means we’re ready to connect financial results with the realities of each client’s business.
For example, we:
- Review how the business performed compared to past years
- Analyze budgets or forecasts clients share with us
- Connect the dots across other departments, if it’s reasonable to do so: bookkeeping, tax, payroll/payables and controllership - so that advice doesn’t come from one angle only
Instead of reciting what’s already in the statements, we come ready to interpret, advise, and strategize.
That way, when the meeting starts, we’re not just reading numbers off a page. We’re ready to give context, advice, and ideas that can hopefully make a difference.
2. How the Meeting Flows
The meeting itself is always client-first. We start with their questions. Then we walk through the financials at a high level before zooming (no pun intended) in on anything that needs attention.
Some clients like to review their statements and tax returns ahead of time, while others prefer walking through it live. Since we’re fully remote, we use Zoom and screen-sharing. It makes the meeting flexible; clients don’t need to come into an office, and we can drill into reports together on the spot.
Because our cloud-based tools are all at our fingertips, we can even dive deep and navigate back to the accounting system and source documents if there are specific questions that need granular details/answers.
3. The Topics That Always Come Up
The same themes surface mostly every year, but the answers are never the same:
- Taxes owing - We clarify what’s due, reconcile against payments already made, and walk through installment schedules so there are no surprises.
- Bank or loan covenants - Some clients have little margin for error, while others have more breathing room. In both cases, we help present their best case to lenders and strategize for the years ahead.
- Earnings and performance - We highlight shifts from prior years and pinpoint the drivers behind those changes.
- Shareholder remuneration and personal taxes - From day-to-day expenses to major life purchases, we map out tax-efficient ways to draw funds while keeping personal goals aligned with the business.
4. Why Clients Value It
From an engagement standpoint, these meetings are designed to be interactive. As mentioned, we screen-share financials, drill into Xero, QBO or other reports, and model ‘what if’ scenarios live. In some cases, we may have to get back to a client but in many situations, we can solve answers on the spot using the variety of tools at our disposal.
From a compliance standpoint, many clients leave the meeting with clarity, relief, and a plan they feel good about. They also have the confidence that their tax returns are ready to be filed for another year. That gives them the clarity to focus on running their business in the present.
5. Why We Do It Differently
Some firms don’t even hold a formal year-end meeting. For us, it’s essential. It’s the moment where we:
- Make sure compliance is covered
- Address immediate and tough questions head-on
- Spot planning opportunities for the year ahead
But just as important, it’s a chance to get ahead. We’d rather flag issues early, talk through options, and set a plan before the year is already rolling.
6. A Real Example of Impact
In one recent meeting, a client was staring down a significant personal tax bill after heavy personal spending. As we dug in, we discovered they also held a substantial personal investment portfolio.
That opened the door to a tax-saving strategy: transferring the investments into their corporation on a tax-deferred basis. This resulted in a major reduction in their tax liability - an opportunity that only surfaced because of that year-end discussion.
Final Thoughts
Year-end isn’t meant to feel like a box-checking exercise; it’s one of the most valuable conversations of the year. By preparing thoroughly, tailoring each discussion, and staying proactive, we help clients review the past, but also plan smarter for what’s next. Book a no-pressure consultation to see how we can help make your next year-end your most valuable one yet.
